What to do if your business owes SARS money
Filing taxes can be stressful and time-consuming at the best of times, and this year small businesses are already in a tough spot. There are a variety of reasons that businesses go into debt with SARS
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Let’s dive into this week in tech but first, you should know the headline has nothing to do with the Nigerian SARS.
Understanding debt is essential if your business hopes to avoid nasty surprises or additional penalties. As part of Xero’s Tax Taskforce program, our firm and three other accounting practices have joined up alongside Xero to help small businesses take on their tax season pain points.
Here is some advice for small businesses that owe SARS money…
According to the World Bank, AfCFTA will lift 30 million people out of extreme poverty and raise the incomes of 68 million more. Intra-African trade was around 2% of the continent’s total trade between 2015 and 2017, while comparative figures for America, Asia, Europe and Oceania were, respectively, 47%, 61%, 67% and 7%. The goal of Africa’s new trade pact is to increase this share within the world’s largest free trade area (in terms of numbers of countries).
There was a massive increase in the value of mergers and acquisitions in sub-Saharan Africa (SSA) in the first half of 2021. This was due, in part, to the post-pandemic boost, where deals that were delayed last year, were able to proceed in 2021. Also spurring investment in SSA was the launch of the African Continental Free Trade Area, strengthening relationships with Africa’s key trading partners, as well as rising demand in key industry sectors such as materials, power and energy, technology and telecommunications.
The increased risk of natural disasters, coupled with sea level rise, which accompanies climate change makes African SIDS particularly vulnerable because their economies are anchored on tourism and fisheries, according to Jean-Paul Adam, Director of Technology, Climate Change and Natural Resource Management at the ECA.
Clubhouse said“When you’re in the audience, you’ll now hear the people around you in 3D, which makes the experience a bit more lifelike and human. It’s also easier for your brain to track who is talking, thanks to subtle spatial cues. Spatial audio works best with headphones, wired or otherwise.”
The IDC says Apple's iOS devices are a bigger portion of that growth (13.8%) than Android devices (6.2%). Emerging markets from Africa to Asia are the primary markets driving the increase in shipments, offsetting negative shipment numbers in the US, Western Europe and China.
In recent remarks to Mills Soko, a professor at a South African university, Kganyago asserts cryptocurrencies like bitcoin only partially meet one of the three key characteristics of a currency.
Taking a break from tech is often billed as a way to boost overall well-being, helping to fight sleeping disorders, anxiety and depression.
But some researchers are sceptical.
Since the beginning of the pandemic, President Macron of France has been a powerful advocate in support of Africa’s need to have equitable access to vaccines and was the first leader to welcome and acknowledge the efforts of the African Union Member States to build institutions like AVAT.
A number of multinational companies from the United States, Japan and Latin America have indicated their eagerness to expand their businesses into Nigeria and other countries in Africa and take advantage of the continent’s market.
The Central Bank of Nigeria (CBN) yesterday announced the formal engagement of global fintech company, Bitt Inc., as technical partner for its proposed digital currency, also known as e-Naira. CBN Governor, Mr. Godwin Emefiele, disclosed this in Abuja.
The wind of Central Bank Digital Currency (CBDC) is currently blowing across the globe with major Central Banks in the process of developing systems that will support digital money. Africa is not left behind as two very significant countries within the African Continental Free Trade Area (“AfCFTA”) have been in the news recently in their race to launch the first CBDC on the continent. Nigeria, the continent’s biggest economy, through the Central Bank Governor, Mr Godwin Emefiele, announced on July 27, 2021, the launch of the pilot phase of the Nigerian CBDC (e-Naira) in October this year (less than two months from now).
The Central Bank of Nigeria (CBN) has released new guidelines on how a state-backed digital currency (e-Naira) will be regulated, designed, and issued. The Central Bank Digital Currency (CBDC) is on schedule to be launched on the 1st of October.
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