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SCA judgment brings end to interpretations of 'binding offer'

On 20 May 2015, the Supreme Court of Appeal (SCA) delivered judgment in the matter of African Banking Corporation of Botswana v Kariba Furniture Manufacturers & others, dealing decisively with (among other things) the proper interpretation of the words 'binding offer' as they appear in s153 of the Companies Act...

By Grant Ford and Lucinde Rhoodie 28 May 2015 06:20

Possible removal of rebate evokes criticism

With effect from 1 January 2012, the South African government introduced s6quin of the Income Tax Act, No 58 of 1962, which provides for a rebate in respect of foreign taxes paid by a South African resident for services rendered within South Africa...

By Mareli Treurnicht and Heinrich Louw 27 May 2015 12:49

Provisions in Act can defer payment of CGT

If a person disposes of an asset during the current tax year, but only becomes entitled to payment in future tax years, the Income Tax Act, 1962 provides that the amount is deemed to have accrued to that person during the current tax year...

By Graeme Palmer 25 May 2015 06:49

Competition Commission to investigate retail sector

The Competition Commission will soon be publishing its terms of reference to launch a market inquiry into parts of the retail sector...

By Ahmore Burger-Smidt and Kriska-Leila Goolabjith 22 May 2015 11:44

Who is obliged to report a reportable arrangement?

The list of reportable arrangements was extended by the South African Revenue Service in a notice (SARS Notice) published on 16 March 2015 in terms of s35(2) and s36(4) of the Tax Administration Act, No 28 of 2011 (TAA)...

By Ben Strauss 14 May 2015 13:12

Tax laws are not in line with growth in digital economy

Charles de Wet, head of Indirect Tax, PwC Africa, says South Africa's tax laws have not kept pace with the growth of the digital economy and changes in the way in which business is conducted...

14 May 2015 11:01

Liquidation a tool to save a business

Starting a business involves risk. Sometimes businesses do well and sometimes they fail. That is just the nature of business...

By Nanika Prinsloo 13 May 2015 12:26

Financial-news websites face off in high court

The clash of the financial-news websites kicked off in the High Court in Johannesburg this week, as Moneyweb accused Fin24 of stealing stories off its website...

12 May 2015 12:06

Trade with Nigeria requires NAFDAC registration

Companies and individuals trading in the food industry, pharmaceutical and medical industry, and the cosmetics industry should be aware of the laws in Nigeria regarding the importation, manufacture, distribution, sale or even advertisement of their products...

By Rachel Habib 11 May 2015 07:03

SAA guarantee a delaying device, says Comair

SAA's precarious financial position was laid bare in the High Court in Pretoria on Tuesday, 5 May, as competitor Comair challenged the financial assistance provided by the government...

8 May 2015 07:16

Financial transactions reportable to SARS

Certain financial transactions meeting the requirements set out in section 35 of the Tax Administration Act, 2011 are reportable to the South African Revenue Service (SARS) by the promoter or person who derives a tax or financial benefit from the arrangement...

7 May 2015 09:03

Consumer Protection Act protects car buyers

Many consumers are quick to threaten action by the CPA if they feel they've been duped, but the law isn't always on their side...

By Jeff Osborne 4 May 2015 08:34

Tribunal agrees settlement terms for cycle cartel

Four of the 20 bicycle retailers and wholesalers implicated in a price-fixing scandal appeared before the Competition Tribunal yesterday, 29 April 2015...

By Roxanne Henderson and Kingdom Mabuza 30 Apr 2015 16:37

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