Section 200 of the Tax Administration Act (“TAA”) deals with the Compromises on Debt owed by individuals, trusts, close corporations and companies. It allows a senior SARS official to compromise a tax debt which could be comprised of taxes, penalties, interest and even additional tax if certain requirements are met. The Term “Compromise” Is Defined…
Below are some of the signs, as part of the procedures that corporates must follow, to assess if the company is in financial distress. Looking and analysing the following and other indicators of financial distress could assist the company to detect the risks and costs that could occur. A financial distress report would then include…
In Community of Property Out of Community of Property Out of Community of Property with accrual. IN COMMUNITY OF PROPERTY: If you are married in community of property, this means that current and future assets are shared equally.
The best way to improve communication is to write a communication policy that outlines your plan to exchange information between clients, vendors and employees. For example, when handling potential clients who have expressed an interest in your services, you may want to create a new client communication policy that defines what steps should be taken…
