Sars and NPA join forces to combat tax crime 14 May 2021 - 18:51 Image: Reuben Goldberg
The SA Revenue Service (Sars) and the National Prosecuting Authority (NPA) are joining forces to combat tax crime and non-compliance with tax laws, which they say erode the tax revenue base and integrity of the tax system.
The organisations announced in a joint statement on Friday that Sars commissioner Edward Kieswetter and NPA boss Shamila Batohi had agreed to further enhance their collaboration.
This would cover a number of aspects, but the “immediate focus” was on non-compliance by employers who deduct Pay As You Earn (PAYE) but never turn those taxes over to Sars and do not file their returns when required, as well as other general corrupt activities.
BL Research Bureau
Asian Paints, the largest paint maker in the country delivered a good performance in its recent March quarter earnings, driven by strong sales across segments. With economy fully opened (until March this year post which localised lockdowns were implemented), the pick-up in real estate and industrial demand gave a boost to the company. In Q4 FY21, it reported a revenue growth of 43 per cent to ₹6,651 crore when compared to same period last year. Despite the increase in input costs, Asian Paints reported solid earnings growth. Its profit grew 81 per cent to ₹869 crore, partially due to benefit of base effect (Q4 FY20 impacted by lockdown). However, on a sequential basis, while the revenue declined marginally by 2 per cent between March and December quarter of FY21, net profit declined by 31 per cent due to impact of higher raw material costs. Asian Paints stock at ₹ 2,560 (at market close on May 12) trades at 78 times its trailing twelve-month earnings.
Hesitance frustrates Covid-19 vaccination efforts 13 May 2021 - 11:18
Hesitance by citizens to take the jab and delays in delivery of vaccines are the main challenges that the country will have to deal with when it enters the second phase of its vaccination programme on Monday.
This is according to the Anban Pillay, director-general of the department of health who outlined government’s vaccination programme during a GEMS (Government Employees Medical Scheme) virtual symposium on Thursday.
This article is free to read if you register or sign in. If you have already registered or subscribed, please sign in to continue.