An understatement in accounting refers to business assets given a valuation lower than their fair market value or a devaluation of liabilities to less than their actual cost. Either results in an ...

The annual draft tax bills recently circulated for comment by the National Treasury and the South African Revenue Service contain contentious proposed amendments to ...

When I was a college student in the 1960s, I had the uncommon privilege of learning English from American professors in Korea. By the time I graduated from college, I had become reasonably proficient ...

Few words strike fear into a taxpayer’s heart quite like “SARS understatement penalties.” These penalties can be severe, often imposed after an audit or verification process, and can quickly escalate ...