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SARS Expedited Tax Debt Compromise
SARS Expedited Tax Debt Compromise
At R&V Accountants, we are committed to providing our clients with the latest updates and support in navigating tax compliance and debt resolution. Following our recent training session held on 16 October 2025, we are pleased to inform you that we can now assist you with the new Expedited Debt Compromise process introduced by SARS.
Section 45 Requirements for Intra-Group Loans
Section 45 Requirements for Intra-Group Loans
This article aims to clarify the key aspects of Section 45 of the Companies Act, 2008, relating to intra-group financial assistance, and provide practical guidance for companies to ensure compliance and mitigate legal risks.
Intra-group financial assistance, such as loans, guarantees, or securities, is a common practice within corporate structures. However, directors must be aware that these transactions are subject to strict legal provisions under Section 45, which aims to prevent inappropriate or risky financial support between related entities.
Manual Mayhem: Why Your Business Is Losing Money Without Automation
Manual Mayhem: Why Your Business Is Losing Money Without Automation
As a business owner, you know how time-consuming manual tasks can be—tracking sales, updating inventory, calculating payroll, and more. These repetitive processes might seem manageable, but they can secretly be costing you time, money, and opportunities to grow. The good news is, automation offers a way to work smarter, not harder.
Financial assistance in terms of section 45 of the Companies Act
Section 45 of the Companies Act 71 of 2008 (Companies Act) governs direct and indirect financial assistance to directors and prescribed officers as well as certain companies and corporations, with the purpose of protecting shareholder and creditor interests by preventing the board of a company from exploiting its power of providing financial assistance which may unduly burden the company for the benefit of directors.
Financial assistance in terms of section 45 of the Companies Act
South Africa: The new subsection 45 (2A) of the Companies Act – Striking the right balance
South Africa: The new subsection 45 (2A) of the Companies Act – Striking the right balance
On 26 July 2024, President Cyril Ramaphosa signed into law the Companies Amendment Bill and the Companies Second Amendment Bill, introducing significant changes to the Companies Act 71 of 2008. Effective from 27 December 2024, one key change is the new subsection 45(2A), which exempts financial assistance provided by a company to its subsidiaries from the stringent requirements of Section 45.
SARS Commits to Expedited Tax-Debt Compromise Process
The South African Revenue Service (SARS) is always ready to assist taxpayers to fulfil their legal obligations. Taxpayers who owe tax debt may often find it difficult to settle their debt due to financial challenges. SARS has various mechanisms to collect outstanding debt. To explore this matter further, SARS met with the Recognised Controlling Bodies (RCBs) to look at various ways in which taxpayers can be assisted to pay their debts to the fiscus.
SARS Commits to Expedited Tax-Debt Compromise Process
SARS promises four-week turnaround in expedited debt process
SARS promises four-week turnaround in expedited debt process
The revenue service laid out details of the new tax debt process as well as existing debt relief options for indebted taxpayers.
Only undisputed tax debt will be eligible for compromise.
Many taxpayers with outstanding tax debt will soon have an opportunity to participate in an “expedited” tax-debt compromise process with the South African Revenue Service (Sars).
Only undisputed tax debt will be eligible for compromise.
