SARS: 

• Guides (new, updated & issued): 

  • Updated VAT 404: Guide for vendors 

• Binding Rulings (Private/Class/General) issued: 

  • BPR 336 – Liquidation distribution   

• Notices and other publications issued: 

  • The validity period of the Confirmation of Diagnosis of Disability (ITR-DD) form has been extended 

• Tax Court cases: 

  • IT 24614 – Whether the Appellant was entitled to a deduction for what SARS regarded as a loan 

  • IT 14157 – Whether the Appellant was an independent contractor that was not obliged to deduct SDL & PAYE 

• High Court cases: 

  • Red Ant Security Relocation and Eviction Services (Pty) Ltd v CSARS (2999/18) – Whether applicant entitled to urgent interim interdictory relief in respect of withdrawal of tax compliance status by SARS 

  • CSARS v Spur Group (Pty) Ltd – Whether contribution to employee share incentive trust in the production of income and hence deductible under section 11(a) 

• Supreme Court of Appeal cases: 

  • CSARS v Danwet 202 (Pty) Ltd – Condonation for late filing of an appeal against an assessment    

  • CSARS v Pieters and Others (1026/17) – Contracts of employees terminated; awards to employees not subject to PAYE 

  • Africa Cash & Carry vs CSARS – Whether SARS proved that the methods of assessment used were reasonable; whether the tax court ought to have remitted the assessment; section 89quat interest 

  • CSARS v Langholm Farms (Pty) Ltd – Whether court appropriately exercised its discretion in circumstances where Commissioner for the South African Revenue Service had not issued a final assessment 

  • CSARS vs Clicks Retailers (Pty) Ltd – Whether amount received from earlier sales used to finance future expenditure on same contract 

IFRS: 

• Standards – What’s new? 

  • IFRS Monthly news summary 

IRBA: 

• Guidance:  

  • Proposed Guide for Registered Auditors: Joint Audit Engagements 

CIPC: 

• Notices and Practice Notes issued (enforcement and to customers): 

  • Guidance Note 2 of 2019 – Time Periods for Filing Annual Returns and Annual Financial Statements  

  • Notice 79 of 2019 – Disqualified directors’ letters 

  • SAICA highlights CIPC Compliance checklist challenges  

• Companies Tribunal: 

  • 3 Decisions reached on cases heard (2 Name disputes, 1 AGM, 0 Exemptions from SEC, 0 Directorship dispute, 0 Reviews) 

Labour Law: 

• Employment law: 

  • Update on Parental Benefits in terms of the BCEA – effective 1 January 2020 

Other Laws & Regulations affecting your client AND impact on NOCLAR: 

• Other Acts and articles: 

  • 6 planned laws for South Africa you should know about in 2020 

Regulator news: 

• IRBA News & press releases: 

  • IRBA Issues a New CPD Policy and Related Guidance 

  • IRBA launches Audit Quality Indicators: Evaluating audit quality and promoting transparency of audit firms  

• SAICA press releases & other publications: 

  • SAICA’s latest developments in the auditing profession 

• 5 interesting articles that also affect SMEs 

  • SAICA SMP Q3 Newsletter 

  • Audit Requirements relating to the Business Accounts of Legal Practitioners now clarified 

  • SAICA’s new CPD Policy 

• Companies Tribunal:  

  • Domain Name Disputes: Does the Tribunal have jurisdiction over Domain Names? 

• FIC Advisory & Guidance:  

  • PCC41: Awareness on protecting NPO sector from Money Laundering and Terrorist Financing 

  • Call for comments: Draft PCC 102 on Supervisory Body Access to STR and STR Information 

  • Call for comments on South Africa’s Targeted Financial Sanctions Regime Draft Document PCC 104 

  • FIC Supervisory Body: SARB fines Standard Bank R30m & imposes penalties on 4 other banks 

  • Media release: Public Private Sector Partnership to assist in Combating Financial Crime 

• CGSO & National Consumer Commission:  

  • CGSO Annual report released 

  • CGSO Press release – Rights & Responsibilities of Consumers & Suppliers during Black Friday  

  • The National Consumer Commission slaps Ford Motor Company of Southern Africa with a fine of R35m 

  • Slow or no justice for buyers of dodgy cars despite Consumer Tribunal 'help' 

• FSCA publications & press releases: 

  • FSCA Update on public warning regarding Karatbars International GmbH 

  • FSCA provisionally withdraw the licence of Exclusive Life Financial Services (Pty) Ltd 

  • FSCA eNewsletter – FSCA Bulletin 2019/2020 

  • 2 Warnings issued to the public against fraudulent FSPs 

General Announcements / News Releases: 

• Media articles:  

  • The end of annoying marketing calls in South Africa 

  • Here’s when you are allowed to drive in the emergency lane in South Africa