| IFRS: |
- IFRS 9: impact of profits (effective 1 January 2018)
- General IFRS update
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| IRBA: |
- Monitoring Group Consultation Paper (comments on global audit standard-setting process)
- Stronger sanctions for improper conduct (changes to Auditing Profession Act and Adjustment of Fines Act)
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| CIPC: |
- Minutes from latest stakeholder meetings
- New notices released (de-registrations on 2 February 2018 and re-instatements)
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| Labour Law: |
- BCEA Sectoral Determinations (new minimum wages effective from 1 January 2018)
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Other Laws & Regulations
affecting your client AND
impact on NOCLAR: |
- Sectional titles : Community Schemes Ombud Service Act (overview of 1st year)
- The Animals Protection Act (Draft Amendment Bill 2017)
- The Competition Act (Draft Amendment Bill 2017)
- The Films and Publications Act (Amendment Bill 2015)
- The Long-term Insurance Act and Short-term Insurance Act (Insurance Bill 2017)
- The Political Party Funding Bill 2017
- Basic Education Laws Amendment Bill 2017 (strengthening of bookkeeping practices)
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| SARS: |
- Extension of deadline to file returns in terms of section 25(7) of the Tax Administration Act 2011
- Multinational Enterprises:
- Extension of deadline for the submission of reports and other returns (by entities with reporting fiscal years beginning before 1 March 2016)
- Jurisdictions contemplated in Article 2(2)(ii)(b) of the regulations specifying the Country-by-Country Reporting Standards
- The Bahamas join international efforts against tax evasion and avoidance
- Acts promulgated in December 2017:
- Taxation Laws Amendment Act 17 2011
- Tax Administration Laws Amendment Act 2017
- The Rates and Monetary Amounts and Amendment of Revenue Laws Act 2017
- Explanatory memorandum : TLAB
- New SARS guides released in December 2017:
- Comprehensive guide to capital gains tax
- Transfer duty guide
- Interpretation Note 73 – Tax Implications of rental income from tank containers
- Interpretation Note 97 - Taxation of REITs and controlled companies
- Interpretation Note 67 – Connected persons
- Binding Private Ruling 287 – Disposal of vacant land in exchange for shares
- Court cases:
- ITC 14055 – Social corporate expenditure
- A win against SARS: late delivery of SARS’s rule 31
- Deductibility of legal expenses
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| Regulator news: |
- FRSC (Financial Reporting Standards Council)
- IRBA Newsletter (December 2017)
- IRBA Integrated Report (2017)
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