Author: Staff Writer

The South African Revenue Service (SARS), strives to always clarify and remind taxpayers of their obligation in law, as well as the potential consequences should they not comply. Notwithstanding the legal mandate of SARS to act against taxpayers who fail to comply, it is generally expected that we first remind, and give the taxpayers the opportunity to comply, ahead of SARS commencing legal action. Tax season for non-provisional taxpayers drew to a close on Monday, 23 October 2023. The SMS message that was sent out earlier this week, in relation to outstanding returns, fell short of the high professional standard…

The Greenery, the much-anticipated convenience shopping centre in Polokwane, Limpopo, celebrated its grand opening today. Co-owned and developed by the Moolman Group and Networth Group, the 11,000sqm centre will bring a fresh, upmarket and vibrant neighbourhood shopping experience right to the doorsteps of Polokwane’s residents. Named in tribute to the old municipal nursery that used to be situated on the site, The Greenery opened with 23 handpicked retailers comprising well-known favourites plus a variety of local stores and speciality services. Jannie Moolman, Chairman of Moolman Group, says, “Moolman Group is a family business from Polokwane, and this development is a testament…

AuthentifyIT, a new platform that empowers digital ownership and verification of physical objects and digital assets, announced today its exclusive collaboration with Gilbert, the world’s premier manufacturer of Rugby balls, and distribution partner Legends International, where the company will authenticate 150 replicas of the Rugby World Cup 2023 Final Ball. This collaboration between AuthentifyIT, Gilbert, and Legends preserves the authenticity of the Rugby World Cup 2023 (RWC 2023) Final Ball and also elevates fan engagement to unprecedented levels. By creating a unique digital identity for each product, fans will enjoy a new immersive experience, changing the nature and economics of…

Tata Consultancy Services (TCS) expanded its partnership with the Standard Bank Group (SBG), the largest custodian in Africa, to centralize and standardize its custody and securities settlement operations in over 15 markets with the TCS BaNCS Global Securities Processing Platform. SBG operates the largest custody network in sub-Saharan Africa with USD 635 billion in assets under custody and administration, standing at the forefront of capital market development in the continent. The bank  sought  to upgrade its existing platform and leverage next-generation technologies to further streamline its custody and settlement processes and build greater resilience in its operations by having all…

Nedbank today announced the introduction of innovative generative Artificial Intelligence (AI) technology to employees to revolutionize the way they interact with information and make data-driven decisions. Employees now have access to an AI powered assistant, Microsoft Bing Chat Enterprise, that can help with various tasks such as content generation, data analysis, document summarisation, and skill acquisition. Nedbank’s adoption of this cutting-edge technology signifies its initial step towards providing employees with secure access to generative AI. This strategic move is designed to stimulate innovation, enhance efficiency, and accelerate learning. Nedbank envisions that generative AI’s capabilities will enhance collaboration, decision-making, and innovation…

While September was not a great month for new or used car sales, the used car market in South Africa showed steady year-on-year growth.  According to AutoTrader, the used car market in September 2023 saw a +9.5% year-on-year increase in sales from September 2022, but declined by -9% versus August 2023 used car sales. The accumulative value of used car sales for September rose from R11,6 billion in 2022 to R12,7 billion in 2023. In comparison, according to figures released by naamsa | the Automotive Business Council, the September 2023 new passenger car market – at 29,669 units – registered…

In March this year, MTN SA announced the investment of R1.5billion towards network resilience programme that is aimed at warding off the negative impact and frustration caused by power cuts, theft and vandalism and help enhance network availability and stability over the long-term.   The investment has resulted in an improvement in network availability in line with international benchmarks despite the ongoing bouts of loadshedding.   The investment has seen the company deploying additional sites and doubling its 5G sites in the province.    “Our purpose is to accelerate digital access for as many South Africans as possible and brighten lives through the…

In the wake of its successful launch, MTN South Africa is introducing compelling enhancements to MTN SuperFlex, the transformative mobile offering that aims to reshape the landscape of personalised mobile plans.   These enhancements will ensure an even more versatile and user-centric experience. MTN customers can now enjoy:  Expanded Accessibility: Existing customers or those who have already ported to MTN prepaid now have the seamless ability to enjoy MTN SuperFlex using their current prepaid SIM cards and mobile numbers. This expansion means more users can experience the freedom and customisation that SuperFlex offers. Re-subscription Flexibility: Subscribers can now enjoy the…

The South African Revenue Service (SARS) recently published their requirements for monthly tax certificate reporting, in support of the SARS personal income tax (PIT) modernisation project. ‘ The modernisation project is an ambitious initiative to modernise personal income tax collection, reducing non-compliance and providing taxpayers with a near real-time view of their tax obligations. Employers will be required to submit tax certificate information monthly, as opposed to submitting twice a year. Over time, the need for employer PAYE annual reconciliation is expected to fall away, as well as the requirement for most taxpayers to file personal income tax returns. SARS is…

After an influx of complaints about car repossessions by banks when people fall behind with their vehicle finance repayments, the Ombudsman for Banking Services (OBS), Reana Steyn, says it is necessary to clarify the rights of both consumers and banks in such circumstances. Importantly, she notes that the first legal principle to understand is that under vehicle financing agreements, the vehicle remains the property of the bank until the loan is fully repaid. “With financed vehicles, the bank, as the titleholder, remains the legal owner of the vehicle, and ownership only passes to the buyer on payment of the last…