At That Point
  • home
  • about us
  • our services
  • our work
  • your resources
  • SA Industry News

South African Institute of Professional Accountants offers guidance to accountants on COVID-19 economic provisions

2/4/2020

0 Comments

 
Picture
On Monday, 30 March, President Ramaphosa announced measures the government will be taking to minimise the local economic impact of the COVID-19 pandemic. The initiatives are aimed at reducing loss of income for small businesses and protecting jobs.
​
​In direct response to the measures, the South African Institute of Professional Accountants (SAIPA) held a member engagement webinar on 31 March with several subject matter experts from the Institute in attendance to offer guidance.

Offering clarity
According to Faith Ngwenya, Technical and Standards Executive at the Institute, the purpose was to provide its members with clarity around the new proposals and the relief measures that have been implemented by government.
“We realise that fake news and misinformation are spreading rapidly, and we are committed to providing authoritative guidance on the regulations to ensure they are implemented correctly,” she says.

Relief Measures
The webinar was backed by interactive chat that allowed the participants to submit their pressing questions in parallel with the presentations.

The first segment unpacked relief measures offered by the Department of Labour in terms of the proposed Compensation Fund and UIF allowances. This was followed by details on the steps being taken by the Department of Small Business Development to provide support for small businesses. Tax relief around PAYE, Provisional Tax and VAT deferments were also covered.

However, the last speaker emphasised that, although certain concessions were being implemented to protect small business cash flow, tax deadlines remained fixed and needed to be met.

This was punctuated by a senior SARS official, who spontaneously joined the discussion to offer his input.

Essential services
Members expressed several concerns through chat. Many asked how to apply for an essential service permit for clients who were sole traders, as they were not registered on the CIPC website where the permits are obtained.
Small business owners will typically turn to their Professional Accountants to help them submit applications for relief, essential services permit and other matters during this time. Says Ngwenya. “Since many of these submissions must include cash flow statements, other financial reports and supporting documents, it is critical that our members remain informed on the latest requirements.”

Conclusion
Ngwenya says the Institute continues to engage with government bodies at all levels to ensure its members deliver critical accounting and tax services correctly in the public interest.

She invites Professional Accountants and members of the public to visit the SAIPA website at www.saipa.co.za for daily updates on current regulations.

ENDS

MEDIA CONTACT: Stephné du Toit, 084 587 9933, stephne@thatpoint.co.za, www.atthatpoint.co.za 
 
For more information on SAIPA please visit:
Website: www.saipa.co.za
Twitter: @SAIPAcomms
LinkedIn: South African Institute of Professional Accountants Company
Facebook: South African Institute of Professional Accountants

0 Comments



Leave a Reply.

    Welcome to the SAIPA newsroom. For releases prior to August 2014 please click here.

    Archives

    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    October 2020
    September 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    February 2017
    January 2017
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    April 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    April 2015
    February 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014

    Categories

    All
    2014/15 Tax Filing Season
    2016 Tax Administration Laws Amendment Bill
    21 February 2018
    4IR
    Accountability
    Accountancy
    Accountancy Revolution
    Accountants
    Accounting
    Accounting Ethics
    Accounting Institutions
    Accounting Integrity
    Accounting Standards
    Advice For Professional Accountants
    Africa
    Anti-corruption Pledge
    B-BBEEE
    Blockchain
    Bongani Coka
    Brian Purcell
    Bridging The Gap
    Budget 2015
    Budget 2016/17
    Budget Speech 2018
    Business
    Business Budget
    Business Rescue
    Cadre Formation
    Canabis Tax
    Carbon Tax
    Careers
    Centre For Tax Excellence
    CEO
    Code Of Ethics
    Companies Act
    Constitution
    Continuing Professional Development
    CoTE
    CPA Ireland
    CPD
    Cryptocurrencies
    Cryptocurrency
    Cyber Crime
    Cyber Security
    Cyril Ramaphosa
    Darren Gorton
    David Van Rooyen
    Davis Commission
    Debt
    Debt Intervention Bill
    Deloitte
    Department Of Basic Education
    Department Of Home Affairs
    Die Hoërskool DF Malan
    Different Types Of Accountants
    Doctoral
    Donation
    Economic Climate
    Economic Development
    Economic Growth
    Economic Instability
    Economy
    Education
    Empowerment
    Environment
    Estate Planning
    Ethics
    Ettiene Retief
    Exxcellence
    Faith Ngwenya
    Female Entrepreneurs
    FICA
    FICA Bill
    Finance Minister
    Financial Intelligence Centre Act
    Financial Statements
    Fiscus
    Foreign Trade
    Fraud
    Georgina Barrick
    Global Economy
    Global Ethics Day
    Government
    Government Institutions
    Grade 11
    Grade 12
    Grant Thornton
    Health Issues
    Honours Degree
    HSBC
    IFAC
    Infonomics
    Initial Coin Offerings
    International Business Report
    International Federation Of Accountants
    International Standard Of Review Engagements
    IRC Of SA
    Job Creation
    Job Losses
    Juane Cronje
    Kantha Naicker
    Karl Smith
    KPMG
    Kwa-Zulu Natal
    Large Business Centre
    LBC
    Learners
    Legal
    Malusi Gigaba
    Mandela Day
    Mark Kingon
    Marnus Broodryk
    Masters Degree
    Mathematics
    Medium-Term Budget Policy Statement
    Membership
    Mid-term Budget
    Mini Budget
    Moetapele Programme
    Momorandum Of Understanding
    Money Launderers
    Monitoring Females
    MTBPS
    NAO
    National Accounting And Maths Olympiad
    National Accounting Olympiad
    National Budget 2017
    National Consumer Tribunal
    National Credit Amendment Bill
    National Credit Regulator
    National Development Plan
    National Health
    National Imperatives
    National Tax Thesis
    NGO's
    NOCLAR
    Non-compliance
    Non-Compliance With Laws And Regulations
    Norton Rose Fullbright
    Obesity
    PAFA
    Pan African Federation Of Accountants
    Parilament
    Parliament
    Parliament’s Trade And Industry Committee
    Passenger Identity
    Paying Taxes Report 2018
    PE Exam
    Personal Details
    Personal Income Tax
    Phillip Joubert
    Pravin Gordhan
    Prem Govender
    Professional Accountants
    Professional Accountant (SA)
    Professional Accounting
    Professional Evaluation Exam
    Project Achiever
    Project Achiever Extended
    Protection Of Information
    Public Schools
    PWC
    Ragiema Thokan Mahomed
    Ragiema Thokan-Mahomed
    Rashied Small
    Repositioning
    Retirement Funding Reform
    SAIPA
    SAIPA Budget Breakfast
    SAIPA INdaba 2021
    SARS
    School
    School Learners
    Service Delivery
    Shahid Daniels
    Shahied Daniels
    Shirley Olsen
    Sibusiso Thungo
    Skills
    Skills Development
    Skills Retention Plan
    Skills Shortage
    SMEs
    South Africa
    South African
    South African Institute Of Professional Accountants
    South African Institute Of Professional Accountants
    South African Institute Of Tax Professionals
    South African Schools Act
    State Capture
    Struggling Economy
    Students
    Sugar Tax
    Sugary Drinks
    Sustainability
    Sustainibility
    Tax
    Tax & Accounting Thesis Competition
    Tax Administration Act
    Tax Administration Laws Amendment Bill
    Taxation
    Tax Clearance Certificates
    Tax Compliance
    Tax Filing Season
    Tax Indaba 2016
    Tax Law
    Tax Ombud
    Tax Payers
    Tax Practitioner
    Tax Season
    Tax Thesis
    Tax Thesis Competition
    Technology
    Tertiary Education
    The Financial Intelligence Centre Amendment (FIC
    Thesis/dissertations
    The South African Institute Of Professional Accountants
    The South African Revenue Service
    The Tax Administration Act
    Thomas Hoeppli
    Tom Mojane
    Transformation
    Treasury
    Trust
    Trusts
    UCT
    Unemployment
    University Of Cape Town
    Unrest
    Value Added Tax
    VAT
    Wealth Taxes
    Winslyn
    Women
    Women Empowerment
    Women's Month
    Workplace
    World Bank
    Xenophobia
    Youth
    Zobuzwe Ngobese

    RSS Feed

CONTACT US

office [at] atthatpoint [dot] co [dot] za
© COPYRIGHT 2022
ALL RIGHTS RESERVED

  • home
  • about us
  • our services
  • our work
  • your resources
  • SA Industry News