The envisaged future relaxation of the prohibition on loop structures will be accompanied by amended tax laws, but current proposals are likely to result in more tax on certain structures...
Nola Brown, Anne Bennett & Cor Kraamwinkel 23 Sep 2020
Voluntary Disclosure Programme (VDP) applications have been a permanent part of our law since 2012. The essence of a VDP application is that a taxpayer is incentivised to disclose to Sars a tax default by being granted some relief from the consequences of their default...
Graeme Palmer 18 Sep 2020
The National Council of Provinces (NCOP) has passed the Disaster Management Tax Relief Administration Bill, the Disaster Management Tax Relief Bill and the Prescription in Civil and Criminal Matters (Sexual Offences) Amendment Bill...
18 Sep 2020
Many taxpayers have made use of Section 24C of the Income Tax Act which allows for the holding over of income received in the present year that is due to be used on expenses in the following year...
16 Sep 2020
The Disaster Management Tax Relief Administration Bill 2020 seeks to alleviate cash flow burdens on taxpayers, which may arise as a result of Covid-19 restrictions implemented under the Disaster Management Act...
Virusha Subban and Prenisha Govender 9 Sep 2020
The National Treasury published the Draft Taxation Laws Amendment Bill, 2020 (Draft Tax Bill) for public comment. One of the more contentious proposals in the Draft Tax Bill relates to the ability of people emigrating from South Africa to access amounts in their pension preservation fund, provident preservation fund and retirement annuity fund (retirement funds) when they leave...
Joon Chong and Wesley Grimm 8 Sep 2020
Proposed amendments to the Income Tax Act limiting capex deductions to mining right holders are likely to have negative consequences, particularly for the junior mining sector...
Shirleen Ritchie and Brian Dennehy 8 Sep 2020
Section 34 of the draft Tax Administration Laws Amendment Bill, 2020 proposes to amend section 234 of the Tax Administration Act, 2011 (TA Act), to remove willfulness (intention) from the range of acts that constitute an offence...
Kyle Fyfe 7 Sep 2020
Due to the lockdown restrictions on the sale of alcoholic beverages and tobacco products in South Africa, the National Treasury implemented a deferment of excise duties for excise compliant businesses...
Virusha Subban and Prenisha Govender 28 Aug 2020
The National Assembly has passed the Disaster Management Tax Relief Bill and the Disaster Management Tax Relief Administration Bill...
26 Aug 2020
The unusual business conditions of the Covid-19 outbreak will require a more flexible approach from tax authorities when analysing transfer pricing in the 2020 year of assessment...
Joon Chong and Karen Miller 26 Aug 2020
Many different types of deposits are received in the ordinary course of business, such as rental, sale, building and security deposits to name a few...
Graeme Palmer 21 Aug 2020
The Vaal University of Technology (VUT) has succeeded in implementing an uplifting and exciting initiative - a law clinic situated at the VUT Southern Gauteng Science and Technology Park (VUT SGSTP) in Sebokeng...
Nontobeko Zondi, Vaal University of Technology 19 Aug 2020
The Supplementary Budget delivered by the minister of finance in June showed that a projected shortfall in tax revenues is expected to be around R300bn for the 2020/2021 fiscal year...
19 Aug 2020
