General Compliance
We take care of your tax registrations, update your registered details, manage applications to change VAT periods, and handle the related compliance requirements so everything runs smoothly and on time. You stay compliant without the admin burden slowing you down.
Cryptocurrency
We guide you through the implications, engage with the relevant authorities where needed, and prepare the required disclosures and supporting documentation so you stay compliant and avoid costly missteps. You get clarity and control over the tax treatment of your cryptocurrency transactions.
Tax Returns
We prepare, review, and submit your provisional and annual income tax returns, dividends tax returns, and VAT returns, ensuring everything is accurate, timely, and aligned with your obligations. You stay compliant and up to date without the stress of managing multiple deadlines.
Transaction Tax Compliance
We prepare the required tax documentation to support your compliance with South African and Namibian tax law, including applications for tax compliance status letters and non-resident declarations, so everything is accurate, complete, and ready when it matters. You have the right documentation in place when you need it, avoiding delays and unnecessary complications.
Registered Representative
Where your business lacks the capacity or expertise to designate a senior individual, we step in as your registered representative or public officer, ensuring you remain compliant and properly represented. You meet your statutory requirements without needing to appoint an internal resource.
Verifications, Audits & Reviews
We manage the process on your behalf, engage directly with the South African and Namibian tax authorities, and prepare all required submissions, ensuring your position is clearly presented and the process runs as smoothly as possible. You’re supported and prepared at every stage of a verification, audit, or review.
Staying compliant can feel like a moving target. Deadlines, changing requirements, and the risk of penalties or audits create ongoing pressure for both individuals and businesses.
AJM helps clients stay ahead of these demands. We bring structure to the process, manage engagements with the relevant authorities, and ensure that compliance is handled accurately and with confidence.
Frequently
Asked Questions
What is a single discretionary allowance?
An allowance of R2 million per calendar year that a South African private individual may externalise freely from South Africa for travel, investment, etc., without a tax clearance certificate or SARB approval.
What is a foreign investment allowance?
An allowance of R10 million per calendar year that a South African private individual may externalise from South Africa for travel, investment, etc., but requires a tax clearance certificate (AIT). When an individual externalises more than R10 million in any calendar year, they require special clearance from SARB.
I have ceased to be a South African tax resident. Do I require an AIT to externalise funds from South Africa?
Yes, an individual who has ceased to be a South African tax resident no longer has a single discretionary allowance and requires an AIT to externalise funds.
What happens if my TCS status reflects as non-compliant?
A non-compliant TCS status is usually caused by outstanding tax returns, unpaid tax liabilities, or both. It is important to identify and resolve the underlying issue as soon as possible, as this status may affect transactions that require tax compliance verification.
Why has my tax refund not been paid out?
Delays in tax refunds can occur for several reasons, including invalid banking details, outstanding verifications, or administrative restrictions placed on a tax account by SARS. It is important to first confirm that your banking details are correct and verified with SARS. If the issue persists, further engagement with SARS may be required to determine whether additional steps or supporting documentation are needed.
What is CARF?
The Crypto-Asset Reporting Framework (CARF) is an OECD standard for the automatic exchange of tax-relevant information on crypto-asset transactions between participating tax authorities. It requires crypto-asset service providers (CASPs) to collect and report user information to their local tax authority, which is then shared with other jurisdictions.
Do I still need to declare my crypto-asset gains to SARS if my CASP reports under CARF?
Yes. A South African tax resident remains personally obligated to declare all crypto-asset income and capital gains to SARS in their annual tax return, regardless of whether their CASP reports transaction data under CARF. CARF reporting by a CASP does not constitute disclosure on behalf of the taxpayer and does not discharge the individual's own reporting obligations.
Are crypto-assets subject to tax in South Africa?
Yes. SARS regards crypto-assets as intangible assets and not as currency. Gains or losses arising from the disposal of crypto-assets are subject to either Income Tax (if the taxpayer is a trader) or Capital Gains Tax (if held as an investment), depending on the nature and frequency of the transactions.
Do I need to declare crypto-assets held on a foreign platform in my South African tax return?
Yes. A South African tax resident is taxed on their worldwide income and assets. Crypto-assets held on a foreign platform must be declared to SARS, and any income or gains derived from those assets must be included in the taxpayer's annual tax return. Failure to declare foreign crypto holdings may constitute a tax offence.
