For any taxpayer or a professional in charge of an entity’s taxes, it is crucial to be aware of the impact of principles that are most commonly used and most often confused. The risk of missing a spot is potentially missing out on tax benefits or underpaying on taxes, both of which is an undesirable position to be in.
ProBeta Training offers a session with a practical approach on these tax principles to guide you past these pitfalls.
This session will address the following:
• Value Added Tax:
o Reconciling to the accounting records
o Distinguishing between zero rating and exempt supplies
o When to use an alternate apportionment method
o Deemed supplies with fringe benefits
o Imports and VAT
o Cost recoveries
o Leases
• Corporate income tax and Employees’ tax:
o Understanding the ITSA and other SARS statements
o Deferred tax
o Tax returns vs annual returns
o Claiming (and proving) tax deductions
o Adjustments between accounting and tax, and what to look out for when auditing tax
o Employees’ tax on certain fringe benefits, tax certificates and IT system considerations
• This course will not cover all of the above in complete detail, but focuses on selected elements.
All taxpayers, those in charge of managing the tax affairs of an entity, tax practitioners, business owners, advisors, auditors and other professionals might benefit from this course.
