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SAIPA Notification: 25 March 2020
COVID-19 Updates – as at 25 March 2020
Since the Presidents announcement on 23 March, our members can be assured that the South African Institute of Professional Accountants (SAIPA) is actively engaging and working with the respective Government departments by making recommendations and submissions on considerations in respect of the impact of COVID-19. We are also waiting to hear on regulations from the respective Ministry departments and will inform all our members accordingly once we receive official communication and direction on these.

Read our response to some frequently asked member questions
SOME DEVELOPMENTS ON PROVIDING RELIEF FROM THE IMPACT OF THE COVID-19 PANDEMIC

Tax benefits (in relation to COVID-19)

On 23 March, President Cyril Ramaphosa announced the tax relief measures, that will apply to certain employers during the next few months, such as:

  • A tax subsidy for private sector employees.
  • The South African Revenue Service (SARS) accelerating the payment of employment tax incentive reimbursements.
  • Tax compliant businesses with a turnover of less than R50 million will be allowed to delay 20% of their employees’ tax liabilities.
  • Exploration of temporary reduction of employer and employee contributions to the Unemployment Insurance Fund (UIF) and employer contributions to the Skills Development Fund.
Click here for more information

Claiming from the UIF guidance

  • Employees who must be self-quarantined for 14 days
  • Forms and documents for reduced work time (short term shut down)
  • Part C of the Unemployment Insurance Act, as amended; (Illness Benefits) and process to follow
  • Employer / Employee confirmation (standard letters for completion)
Click here for more information

Impact of Coronavirus on trade

  • Letter from SARS
Click here for more information

Positions of Neighbouring Countries States - Cross Border Movement in response to the COVID-19

  • Please note that this information populated comes from the statements released by various countries listed. It is by no means an interpretation of such statements.
Click here for more information

We will send you more information as the updates become available.

View contact details for our team: https://bit.ly/TeamSAIPA
Kind regards,
Team SAIPA

#SAIPAproud
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Tel: 011 207 7840 | Fax: 086 682 2077 | connect@saipa.co.za
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