VEVA Consultants

VEVA Consultants Specialists in accounting, tax, auditing, and financial reporting for individuals and corporates.

Helping businesses and entrepreneurs grow with smart tax structuring, accurate audits, and trusted finance strategies.

📅 VAT DEADLINE: 25 JUNE 2026Monthly VAT vendors - your VAT201 return and payment for the May 2026 tax period must be sub...
24/06/2026

📅 VAT DEADLINE: 25 JUNE 2026

Monthly VAT vendors - your VAT201 return and payment for the May 2026 tax period must be submitted and the funds must clear to the SARS account by 25 June 2026.

Late submission consequences under the Value-Added Tax Act 89 of 1991 and the Tax Administration Act 28 of 2011:
• 10% penalty on the VAT payable for late submission
• Interest on any outstanding VAT liability from the due date
• Repeated non-compliance triggers progressive administrative penalties under section 210 of the TAA

Ensure before you submit:
• All output tax correctly calculated at 15% on all standard-rated taxable supplies
• All input tax claims supported by valid tax invoices meeting the requirements of section 20 of the VAT Act
• Zero-rated and exempt supplies correctly separated and reported
• EFT payment initiated early enough to clear by 25 June - allow 1–2 business days
• Submission via SARS eFiling - paper VAT201 returns are not accepted

Don't risk a 10% penalty. Let VEVA handle your VAT compliance.

📩 [email protected] | 073 671 2163 | https://veva-con.co.za

⚠️ SARS Has Questions. We Have Answers.SARS audit activity typically increases in Q2 and Q3 as prior-year returns are pr...
23/06/2026

⚠️ SARS Has Questions. We Have Answers.
SARS audit activity typically increases in Q2 and Q3 as prior-year returns are processed and third-party data from the Crypto-Asset Reporting Framework, CRS, and employer reconciliations are matched against filed returns. If you receive a SARS verification request, audit notification, or letter of demand, time is your most critical resource

How we assist:
• SARS Audit Support: we represent you throughout the SARS audit process - gathering supporting evidence, drafting formal responses, and protecting your rights under sections 42–60 of the Tax Administration Act, 28 of 2011
• Objections: where SARS has raised an incorrect or unsupported assessment, we file a formal objection under section 104 of the TAA - within the 30-business-day window
• Appeals: if your objection is disallowed, we take your case to the Tax Board or Tax Court under section 107 of the TAA
• Voluntary Disclosure Programme: if you have undisclosed income, assets, or transactions, the VDP under sections 226–232 of the TAA offers partial or complete relief from understatement penalties - but only while SARS has not yet commenced an audit or enquiry

Important deadlines you cannot miss:
• SARS audit response letters typically carry 21-business-day deadlines - do not let these lapse
• Section 104 objections must be filed within 30 business days of the assessment date - late objections require condonation
• VDP applications must be submitted before SARS has issued a notice of audit or initiated a criminal investigation

Contact us the day you receive the letter. Every day of delay costs you options.
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📩 [email protected] | 083 357 5129 | https://veva-con.co.za

⏳ Your First Provisional Tax Payment Is Due 31 August 2026. Plan in June. Not July.The first provisional tax return (IRP...
22/06/2026

⏳ Your First Provisional Tax Payment Is Due 31 August 2026. Plan in June. Not July.

The first provisional tax return (IRP6) for the 2027 tax year is due on 31 August 2026. Planning your estimate now - rather than in late July - gives you the time to calculate accurately, optimise your position, and avoid the most common and most expensive provisional tax mistake: underestimating.

The underestimate penalty - paragraph 20 of the Fourth Schedule:
• If your first provisional estimate is more than 20% below your actual taxable income, SARS imposes an automatic penalty
• The penalty is calculated as 20% of the difference between the tax on the underestimate and the tax on the correct amount
• This penalty applies even if you subsequently pay the correct tax - it is a penalty for the inaccurate estimate, not for non-payment

Who must submit a provisional tax return:
• Any person who receives income other than a salary - business income, rental income, freelance income, directorship fees
• Any company or close corporation
• Any individual whose taxable income exceeds a threshold and who receives non-salary income

What we do:
• Calculate your estimated taxable income for the 2027 year based on your actual year-to-date figures and projections
• Complete your IRP6 return with an accurate, defensible estimate
• Submit via SARS eFiling on or before 31 August 2026

An accurate first provisional payment protects your cash flow and avoids a penalty trap in February.

📩 [email protected] | 083 357 5129 | https://veva-con.co.za

📊 Half-Year Done. Do You Know Where You Stand?June marks mid-year for calendar-year businesses - and financial year-end ...
17/06/2026

📊 Half-Year Done. Do You Know Where You Stand?

June marks mid-year for calendar-year businesses - and financial year-end for thousands of South African companies. Either way, now is the moment your numbers tell you the truth. Management accounts give you the clarity to make confident decisions while there is still time to act.

The difference between a business that reacts to its results and one that plans ahead is the regularity and quality of its financial reporting. Monthly management accounts are the foundation of every good business decision.

What VEVA's management accounts include:
• Profit & Loss statement - month-on-month comparison and year-to-date performance against budget
• Cash flow review - where your cash is going and what your next 90 days look like
• Balance sheet - net asset value, debtor aging, creditor obligations, and working capital position
• KPI dashboard - tailored to your business model and growth objectives
• H2 forecast - forward-looking projections so you plan ahead, not after the fact

Know your numbers. Grow your business.

📩 [email protected] | 073 671 2163 | https://veva-con.co.za

🔍 June Year-End Is Closing. Is Your Auditor Already Booked?June is the second most common financial year-end in South Af...
15/06/2026

🔍 June Year-End Is Closing. Is Your Auditor Already Booked?

June is the second most common financial year-end in South Africa. Boards and directors that commission their assurance engagements now - rather than in August - get better service, faster turnaround, fewer surprises, and more time to act on the findings.

Which assurance engagement does your company need?
• Independent Review: required for owner-managed companies and private companies where a full audit is not legally required - provides creditors, banks, and shareholders with professional assurance on the financial statements
• Statutory Audit: required under the Companies Act 71 of 2008 for public companies, state-owned entities, and companies meeting the public interest score threshold under Regulation 26 - conducted by an IRBA-registered auditor
• Agreed-Upon Procedures: targeted assurance on specific financial matters - ideal for lender covenant testing, franchise reporting requirements, regulatory submissions, and grant funding compliance
• Compilation Engagement: preparation of financial statements from management-provided information - suitable for internal reporting and smaller entities not requiring external assurance

Charlotte Nel, CA(SA) - co-founder and Director of VEVA - brings 15+ years of SME and unlisted company experience and expertise in Caseware and data analytics to every engagement.
Book your June year-end engagement now - before the queue builds.

📩 [email protected] | 073 671 2163 | https://veva-con.co.za

📈 Dividends. Rental Income. Interest. Capital Gains. All Taxable. All Declarable.Investment income is one of the most co...
15/06/2026

📈 Dividends. Rental Income. Interest. Capital Gains. All Taxable. All Declarable.

Investment income is one of the most common sources of errors - and SARS penalties - in the South African ITR12 filing season. SARS receives third-party data from your bank, stockbroker, fund manager, and property management agents. If your return does not match, SARS will query it.

Investment income - what applies to you:
• Capital gains: net capital gain included at 40% for individuals - maximum effective CGT rate is 18%; annual exclusion is R50,000 per year (from 1 March 2026)
• Rental income: gross rental less all deductible expenses - repairs, maintenance, rates, levies, bond interest, insurance, depreciation on qualifying assets
• Interest: taxable at marginal rate - annual interest exemption of R23,800 (under 65) or R34,500 (65 and over)
• Local dividends: taxed at 20% dividends withholding tax at source - generally exempt in the hands of individual shareholders but still declarable on the ITR12
• Foreign dividends: taxed under section 10B - 25/45 of the dividend is exempt for natural persons; foreign withholding tax credit available under section 6quat
Common mistakes we fix every season:
• Declaring the gross rental without deducting allowable expenses - leaving money on the table
• Omitting offshore brokerage gains or interest - now visible to SARS via CRS exchange
• Incorrectly applying the primary residence exclusion to a property that was rented for part of the ownership period
Your numbers are already with SARS. Make sure your return tells the complete story.

📩 [email protected] | 083 357 5129 | https://veva-con.co.za

✈️ Working Abroad? Your SA Tax Obligation Did Not Leave With You.South African tax residents remain liable for South Afr...
15/06/2026

✈️ Working Abroad? Your SA Tax Obligation Did Not Leave With You.

South African tax residents remain liable for South African income tax on their worldwide income. Section 10(1)(o)(ii) of the Income Tax Act provides an exemption for qualifying foreign employment income - but the exemption is capped at R1.25 million per year and has been frozen since 1 March 2020.

For South Africans working in zero-tax jurisdictions - the UAE, Saudi Arabia, Bahrain, Qatar - income above R1.25 million faces the full South African marginal rate of up to 45%, with no section 6quat foreign tax credit available because no foreign tax was paid.

Qualifying conditions for the section 10(1)(o)(ii) exemption:
• More than 183 days outside South Africa in any 12-month period
• At least 60 of those days must be consecutive
• Services must be rendered as an employee outside SA
• Maximum exempt amount: R1.25 million - any excess is fully taxable in South Africa
Important: include your foreign income in your 2026 ITR12:
• Foreign employment income must be declared even if fully exempt - SARS needs to see the exemption calculation
• Use source code 3651 for foreign employment income and 4051 for the section 10(1)(o)(ii) exemption
• SARS receives your foreign financial data from 100+ jurisdictions under the Common Reporting Standard - non-disclosure is increasingly detectable

File correctly. File completely. Avoid an audit.

📩 [email protected] | 083 357 5129 | https://veva-con.co.za

📋 Tax Season 2026 Is Opening on 13 July 2026. File Your ITR12 Right - The First Time.SARS has opened the 2026 individual...
15/06/2026

📋 Tax Season 2026 Is Opening on 13 July 2026. File Your ITR12 Right - The First Time.

SARS has opened the 2026 individual income tax filing season, with auto assessments starting soon. Your employer, bank, medical aid, and retirement fund have already submitted your financial data to SARS. Your ITR12 must agree with that data - and must claim every deduction you are lawfully entitled to.

What most taxpayers miss:
• Medical expense deductions - out-of-pocket expenses exceeding 7.5% of taxable income plus qualifying disability costs
• Retirement fund contributions - section 11F deduction of up to 27.5% of the greater of remuneration or taxable income, capped at R350,000
• Home office deduction - if you work from home for more than 50% of your time and have a dedicated workspace
• Travel allowance - logbook required; only business kilometres qualify against the 80/20 deemed private use rule
• Section 18A donations - qualifying donations to approved PBOs are fully deductible
Auto-assessments - read before you accept:
• SARS issues auto-assessments to many taxpayers. Accepting without reviewing may mean leaving a refund unclaimed or inadvertently accepting an incorrect liability
• You have 40 business days to edit or reject an auto-assessment

A tax return is not a form - it is your opportunity. Let us make sure you claim everything you are entitled to.

📩 [email protected] | 083 357 5129 | https://veva-con.co.za

📊 480 Data Points. Three Interconnected Sections. One Deadline. Have You Started?The GloBE Information Return is unlike ...
03/06/2026

📊 480 Data Points. Three Interconnected Sections. One Deadline. Have You Started?

The GloBE Information Return is unlike any compliance document your tax team has prepared before. Traditional tax returns report what you owe. The GIR reports how you calculated it - in granular, auditable detail across every jurisdiction where your group operates.

The data challenge most groups are not talking about:
• Entity-level P&L data before consolidation eliminations - financial data at a granularity most finance systems have never been asked to produce
• Payroll by constituent entity and jurisdiction - required for the Substance-Based Income Exclusion calculation
• Tangible asset data by constituent entity - separate from the group fixed asset register
• Deferred tax tracked by DTL category - not the standard IFRS 12-month reversal approach
• Approximately 480 data points across three interconnected sections - ETR calculations for every jurisdiction

The SARS eFiling GloBE functionality launched on 16 March 2026. Groups with December 2024 year-ends have until 30 June 2026 to submit. This information will be automatically exchanged between tax authorities - SARS will see your global picture, and so will every other implementing jurisdiction.

Most groups spent 2024 and 2025 watching. The window to act is now.

📩 [email protected] | 083 357 5129 | https://veva-con.co.za

🌍 15%. That is the Global Minimum Effective Tax Rate. Is Your Group Above It?The OECD's Pillar Two GloBE Rules impose a ...
02/06/2026

🌍 15%. That is the Global Minimum Effective Tax Rate. Is Your Group Above It?

The OECD's Pillar Two GloBE Rules impose a 15% global minimum effective tax rate on in-scope multinational groups. South Africa has implemented the framework through the Global Minimum Tax Act 46 of 2024, with three key mechanisms:
• Income Inclusion Rule (IIR): SA parent entities pay top-up tax on low-taxed income earned by foreign subsidiaries where the effective tax rate in that jurisdiction falls below 15%
• Qualified Domestic Minimum Top-up Tax (QDMTT): SARS collects top-up tax from in-scope constituent entities operating in South Africa where SA profits are taxed at an effective rate below 15%
• No UTPR in SA: South Africa has expressly excluded Articles 2.4–2.6 of the Model Rules - SA entities will not face domestic UTPR charges. However, other implementing jurisdictions may levy UTPR on SA-source profits

The effective tax rate calculation under GloBE is not the same as your statutory corporate tax rate. It requires a jurisdiction-by-jurisdiction calculation of GloBE Income and GloBE Covered Tax Expense - adjusted for deferred taxes, substance-based income exclusions, and various elections.

Don't assume your group is below the threshold until you have done the calculation.

📩 [email protected] | 083 357 5129 | https://veva-con.co.za

Address

670 Turf Street
Pretoria East
0081

Opening Hours

Monday 08:00 - 17:00
Tuesday 08:00 - 17:00
Wednesday 08:00 - 17:00
Thursday 08:00 - 17:00
Friday 08:00 - 17:00

Telephone

+27736712163

Website

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