Tax Measures to combat the COVID-19 Pandemic

National Treasury and the South African Revenue Service (SARS) published, for public comment, the revised 2020 Draft Disaster Management Tax Relief Bill and 2020 Draft Disaster Management Tax Relief Administration Bill. These Bills give effect to the media statement...

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IFRS 15 and revenue recognition 5-step model

Background: In May 2014, the International Accounting Standards Board (Board) issued a new IFRS® Standard to provide clear principles on when—and how much—revenue should be recognised. IFRS 15 Revenue from Contracts with Customers replaces IAS 18 Revenue and IAS...

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