by Felmeg Accounting | Jul 30, 2020 | General
At this point, it’s fair to say that South Africa is a total mess. Anybody who disagrees with this assertion is fooling themselves. All economic fundamentals are in terrible shape – and will likely deteriorate further under the governing African National Congress...
by Felmeg Accounting | Dec 4, 2019 | General
Tax revolts date back to biblical times. Throughout the ages they have exhibited similar symptoms of a decline in taxpayer morale and confidence in a government’s ability to manage public finances for the greater good of its citizens. Recent public outcries in...
by Felmeg Accounting | Dec 3, 2019 | General
Recently in a article published, it was said that the Big Four Auditing firms bungled 31% of US audits. Since auditors are paid by the companies they scrutinize, the argument is that they have a incentive to produce reports that please those companies – and,...
by Felmeg Accounting | Oct 17, 2019 | General
There are three types of trusts: 1-Ownership trust–A founder or settlor transfers ownership of assets or property to trustees which are to be held for the benefit of defined or determinable beneficiaries of the trust. 2-Bewind trust–A founder or settlor transfers...
by Felmeg Accounting | Sep 23, 2019 | General
Ensuring that multinational enterprises pay their fair share of tax is a growing concern worldwide. Tax Inspectors Without Borders (TIWB) – a joint initiative of the Organisation for Economic Co-operation and Development (OECD) and the United Nations Development...
by Felmeg Accounting | May 17, 2019 | General
We are always happy to see appointments by qualified and experience personel to the government – this can only promote confidence in the Country and ultimately benefit the South African economy and people. Cronje does have the requisite experience to do the job....
by Felmeg Accounting | May 10, 2019 | General
What is billing fraud? It can be described as an employee creating a fake invoice or inflating an existing one to submit and get paid. Most people think they will never be scammed, and then they are. Non-profits and religious organizations often get hit by billing...
by Felmeg Accounting | Feb 28, 2019 | General
Starting in 2018, there was a spike in South Africans looking for second passports, mostly in Europe. This is not unique to SA, as most developing countries experience high migration flows, particularly among the wealthy The most popular destinations are Malta,...
by Felmeg Accounting | Feb 26, 2019 | General
I am not going to go into detail regards GDP, Gross Public spending or Moodys credit rating that may be effected.. I am going to highlight the R69bn for Eskom restructuring, which is a Provisional figure that will probably increase depending on the size of the tariff...
by Felmeg Accounting | Feb 25, 2019 | General
This is a reminder that your Company Income Tax Return (ITR14) is due on 28 February 2019. It is compulsory for registered companies to submit their income tax returns. Companies are required to submit a tax return in the prescribed form twelve months after their...
by Felmeg Accounting | Feb 8, 2019 | General
With Budget Day fast approaching it is worth dreaming of a better tax system. So, here we go. Hey Tito, how about a flat tax of 20%? It will save the economy, pay for social grants, and get business going again. It would be great if we could hit the reset button and...
by Felmeg Accounting | Oct 26, 2018 | General
The number crunchers at the DA have tallied up the amount of irregular, fruitless and wasteful expenditure in government departments and state-owned entities (SOEs) and it comes to a staggering R100,9 billion. Earlier this month the DA put the figure at about R76...
by Felmeg Accounting | Oct 15, 2018 | General
The country has seen a increase in new lenders in South Africa due to banks been so strict with FICA and the National Credit Act. These lenders offer unsecured credit agreements and are not governed by the NCR or any other government body. Mashonisa is used to...
by Felmeg Accounting | Oct 15, 2018 | General
The role of accountants and auditors will evolve as blockchain starts to embed into accounting practices. Human auditors will no doubt still run the process of defining audit standards and strategies. These will then be coded into a blockchain so transactions are...
by Felmeg Accounting | Oct 4, 2018 | General
Even though many people view cryptocurrencies as a speculative investment, it’s still worth adding it as a payment option if you run an e-commerce store. Several reputable stores already include cryptocurrency payment options, and the number is growing each week. In...
by Felmeg Accounting | Sep 18, 2018 | General
I have been a Tax Practitioner for over 10 Years and this mindset of Government to raise taxes and fuel prices etc are not a solution at all, if everybody were to pay their fair share of taxes there would be more than enough money in the coffers to run the country,...
