News
Understanding Financial Intelligence Centre Act Beneficial Ownership and Targeted Financial Sanctions Obligations
Trust and company service providers (TCSPs) operate in an environment that makes them vulnerable to abuse by entities or individuals who may seek to misuse corporate structures to hide illicit funds and their beneficial owners.
Stay vigilant this tax season: protect yourself against tax scams and eFiling fraud
As the 2025 tax filing season ramps up, taxpayers and tax practitioners must remain alert due to increased scams and fraudulent activity that will leverage and seek to undermine the Tax Filing 2025 Season.
The South African Institute of Chartered Accountants (SAICA) congratulates Blaise Colyvas CA(SA) for his reappointment to serve for a second three-year term starting on 1 July 2025 as member of the SME Implementation Group (SMEIG).
SAICA confirms organisational review: strategic realignment for greater impact
The South African Institute of Chartered Accountants (SAICA) revised its strategy in 2024 and confirms that it has undertaken a review of its Target Operating Model (TOM) to ensure that the organisation is structured to adapt to the rapidly evolving business landscape and deliver on its five-year strategy. The TOM aims to evolve SAICA into a deeply Insight-Driven Organisation (IDO) that accelerates member value, enhances organisational capabilities, remains economically and socially relevant, streamlines some processes and embraces sustainability to operate as a winning organisation.
Improved pass rate and key achievements mark the success of SAICA’s January 2025 IAC
Johannesburg, Friday 04 April 2024 – With the release of the results for the January 2025 Initial Assessment of Competence (IAC), formerly known as the Initial Test of Competence (ITC), the South African Institute of Chartered Accountants (SAICA) has announced a 70% overall pass rate. This marks an improvement from the previous year’s overall pass rate of 67%, reflecting the effectiveness of SAICA’s initiatives aimed at supporting candidates.
Treasury takes aim at foreign pensions
Section 10(1)(gC) of the Income Tax Act currently exempts, among other things, foreign sourced lump sums, pensions and annuities that are received by or accrue to a resident for past employment outside South Africa, except amounts from South African retirement funds or resident long-term insurers. This exemption was introduced into the Act when South Africa moved to a worldwide basis of taxation for residents in 2001.
High Court dismisses Kwinana Review Application against Ruling by SAICA Disciplinary Committee
Johannesburg, Friday, 14 March 2025 – The South African Institute of Chartered Accountants (SAICA) welcomes the High Court Judgment issued on 12 March 2025, which dismissed the review application brought by Ms. Yakhe Kwinana. SAICA considers the dismissal of the review application as confirmation of the robustness and integrity of SAICA’s disciplinary processes in ensuring accountability and upholding the highest ethical standards in the profession.