Pirates Players Get Educated On Finances
Orlando Pirates Attend Workshop On Financial Education
Orlando Pirates players attended a financial education workshop this week.
The financial education workshop which was administered by the South African Revenue Service (SARS) was also attended by Pirates’ chairman, Irvin Khoza and was held on Thursday at the Orlando Stadium.
“As we come close to the deadline for tax submissions on 29 March 2018, Orlando Pirates participated in a Tax Education Workshop held at the Orlando Stadium.
“With the Chairman of the Club, Dr Irvin Khoza, in attendance, the Buccaneers were taken through a constructive discussion about money matters and the importance of tax and paying it as part of the country’s broader economic plan.
“With the technical team, players and all support staff in attendance, the South African Revenue Services team conducted in-depth seminars and Q&A sessions to help unpack the tax conundrum in a simple and user-friendly manner.
“The stadium turned into a mobile SARS branch, with players checking their eFiling profiles and getting more information on how to make tax work for them. The SARS team, led by Ms Wongakazi Majola from the Tax Education Unit, was on hand to set up the player profiles before downloading the SARS app to keep them connected while they are on-the-go,” Pirates confirmed on the club’s official website.
Ayanda Nkosi has shared his views on what the players learnt from the workshop.
“People always hear of this tax thing but don’t necessarily understand it or its importance. We are fortunate enough to be in a position where the practitioners and tax professionals come to us to explain how it all works and equip us with the necessary tools and skills so we can actively contribute positively to the country’s economy. Most people only know the taxman when he comes to collect, and by that time you’re so far behind that it becomes a problem!” Nkosi told Pirates’ website.
“Tax plays a massive role in building the country and ultimately making for a strong economy. As it stands, we drive on tarred roads, there are government schools and even hospitals which are serving the country on the back of the tax money that we pay. The broader impact of a simple thing like filing a tax return just cannot be quantified,” added the striker.
“I’m glad that our boys had an opportunity to ask a lot of questions because there’s a lot of tricky things which could hurt you if you don’t understand properly. For example, when investing or putting away money somewhere, it needs to be declared and recorded correctly. You must account for every little increase or lump sum payouts because if you make that mistake and don’t declare it, whether innocently or not, the taxman will balance the books and you could end up losing your whole investment on a technicality. Tax is law in this country and as citizens, we must follow the law and pay our taxes,” concluded Nkosi.
The workshop is part of the PSL’s plan to ensure that clubs are educated and knowledgeable about matters relating to money and tax.