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May 2023

New Tax Incentive for Solar Panel Installation

On 22 February 2023, the Minister of Finance introduced a tax incentive to encourage individuals to install solar panels and generate clean electricity. The incentive is designed to alleviate pressure on the grid and promote self-sufficiency in energy production. This article outlines the details of the incentive, including eligibility criteria and the claiming process.

SARS’ New Disclosure Requirements in Order to Remit Funds Abroad

On 24 April 2023, SARS announced changes to its Tax Compliance Status process, with immediate effect. The enhanced current tax clearance status (“TCS”) application form was introduced to consolidate Foreign Investment Allowance (FIA) and emigration applications into a single Approval International Transfer (AIT) application.   It is important to note that the new AIT process only applies for amounts in excess of R1 million for tax residents. Non-tax residents require the AIT for any amount to be remitted abroad. Here’s everything you need to know about how it affects taxpayers.

Time For a Change: Rethinking the Audit Public Interest Score

In the world of business, where change is the only constant, "Helping you thrive in a changing world" is more than just a tagline at Moore South Africa; it's our mission. As part of our commitment to supporting your success, we believe it is time to address a critical issue affecting a significant portion of our clients: the need to reassess the Public Interest Score (PI) in South Africa.