Latest News

October 5, 2018

Valuable insights at the Alliott Africa Conference 2018

MMS Group’s directors recently attended the Alliott Africa Conference at Emperors Palace. The Alliott Group, with whom we proudly associate, is an International Alliance of Accounting and Law Firms. The […]
October 4, 2018

Administrative penalties for Corporate Income Tax (CIT) to be imposed

SARS will be imposing administrative penalties from December 2018 for outstanding Corporate Income Tax (CIT) returns. Administrative penalties will be imposed on companies that receive a final demand to submit […]
August 17, 2018

Celebrate women this month!

In one of the largest demonstrations staged in this country’s history, 20 000 women of all races marched to Pretoria’s Union Buildings on 9 August 1956, to present a petition […]
August 17, 2018

How to survive a SARS audit?

You have submitted your annual tax return and sigh a sigh of relieve as you sit back and plan how you will be spending your SARS refund. BUT WAIT! WHAT?! […]
August 17, 2018

Does my company need to file in iXBRL?

The Companies and Intellectual Property Commission (CIPC) has mandated that from the 1st of July 2018 all qualifying entities will be required to submit their annual financial statements through iXBRL […]
July 12, 2018

Changing banking details with SARS

In order to prevent fraud, the South African Revenue Service (“SARS”) requires confirmation of new or any changes to existing banking details and will only process any refunds due once […]
July 12, 2018

IFRS 15 – Revenue from contracts with customers

IFRS 15 recently became effective for financial periods beginning on or after 1 January 2018. IFRS 15 is only applicable to entities that have implemented International Financial Reporting Standards as […]
July 12, 2018

Medical scheme fees tax credit

Section 6A of the Income Tax Act[1] provides for a medical scheme fees tax credit (“MTC”), or rebate, which reduces the amount of income tax payable by a natural person […]
July 12, 2018

Don’t be insane – Make a change!

“Insanity – Doing the same thing repeatedly and expecting a different result” – Albert Einstein Cash flow can be a big challenge for any business. Does the following scenarios sound […]
June 26, 2018

Don’t delay, submit your 2018 Income Tax Return!

Annual Tax season is here, and Income Tax return submissions starts on the 1st of July 2018. We’ve taken the liberty of answering frequently asked questions individuals may have. The […]
June 14, 2018

WHAT ARE A DIRECTOR’S FIDUCIARY DUTIES?

Fiduciary duty of good faith In terms of the common law, a director’s fiduciary duty means that a director acts in good faith and in the best interests of the […]
December 8, 2016

MMS Joins Alliott Group to Extend Services to the International Market

Dear Reader, MMS, one of Johannesburg’s Top 10 auditing and consulting firms, has been appointed as the local representative member firm in Johannesburg for the Alliott Group. With over 165 […]
September 28, 2016

Removing directors of a company

The Companies Act, 71 of 2008, requires that the business and affairs of any company be managed by or under the direction of its board, which has the authority to […]
October 26, 2015

Minutes of board meetings

Board meetings and the decisions made during these meetings may be determining for the effective functioning of a company. Clients are therefore reminded of the legal requirements relating to board […]
August 12, 2015

Cost management: 7 tips for cutting business expenses

It is important for every business owner to make a maximum profit, both through sales and by maintaining strict financial discipline within the company. Implement sound practices from the start, […]
July 22, 2015

What’s the buzz about business rescue?

If a company/close corporation is in financial trouble and all possible avenues to save the business have been exhausted, there is one last option available to save the business: it […]
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