To claim or not to claim—VAT, that Is…
Some vehicles you cannot claim VAT on, some you can—and knowing the difference can save you a lot of money. When can you claim input VAT on a vehicle? Most businesses that are registered for VAT will be aware that you generally cannot claim input VAT on the purchase of a ‘motor car’ as defined […]
The tax treatment of relocation expenses
Transferring staff? There are tax implications for them … and for you! If your business has branches in different locations, one of the best ways of offering key staff opportunities for career growth is to allow them to relocate. Relocating an existing staff member who has come to know and understand your systems, procedures, and […]
Expert Guidance in Cross-Border Taxation
Zuydam Konsult, originally rooted in Cape Town, has successfully established a significant presence in the Dutch business sector. Strategically located in The Hague, we provide high-quality audit, tax, and advisory services. This location choice reflects our commitment to both local and global business needs, ensuring we deliver reliable expertise and meaningful value to our clients. […]
Beware of Tax-Related Scams
Over the past five years, the SAFPS has seen a steady increase in the number of tax-related scams. Improved efficiency To improve efficiency when it comes to processing tax returns, and to encourage individuals and businesses to file their tax returns timeously, SARS launched its eFiling service in 2000. This allows taxpayers to file their […]
New regulations on compulsory submission of beneficial ownership on all trusts
As part of South Africa’s efforts to combat the country’s grey-listing status, The General Laws (Anti Money Laundering and Combating Terrorism Funding) Amendment Act that was passed in December 2022, has been fast tracked and became effective as from 1 April 2023. These amendments introduced a new definition of a ‘beneficial owner’ into the Trust […]
Renewable energy tax incentives
Government is encouraging investment in renewable energy—but as always, there are caveats While this year’s Budget was largely devoid of surprises, Finance Minister Enoch Godongwana made one announcement that was widely anticipated following President Cyril Ramaphosa’s State of the Nation speech, and will hopefully help taxpayers alleviate some of the pain of dealing with loadshedding. […]
Let us help you manage your taxes the smart way
Zuydam Konsult is a well-established advisory, audit, tax and accounting firm which offers comprehensive business solutions that help clients create exceptional futures. The company was founded by Henk van Zuydam in 2012, and it has grown from its humble beginnings into a leading firm with offices in Belville, Fish Hoek, and The Hague in the […]
Never do things just ‘for tax purposes’
A decision based solely on tax considerations is likely to be the wrong one. “I HATE tax!” These were the words spoken by a director of one of the clients of the audit firm with whom I served articles. Whilst many would agree with this sentiment towards the tax-man, this particular individual’s zeal in devising […]
Bribes, penalties, and fines: Don’t expect help from SARS
The meeting went on longer than you expected, and now you’re rushing to get to your next appointment. It’s a new client, and a successful deal will be lucrative both for your company and this month’s commission cheque. But not five minutes after you get onto the freeway, some plod with a hairdryer in his […]
Section 24C Allowance: Future Expenditure
The nature of a taxpayer’s business may be such that the taxpayer receives amounts under a contract that will be used to finance expenditure to be incurred in future in performing under that contract. Generally, this would result in an inclusion of the amount in that taxpayer’s income in that year of assessment. In contrast, […]