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Finance Trends 2020

Image source: Getty/Gallo
4 good reasons not to mix your business and personal finances

Freelancers, tradesman and other self-employed people easily fall into the trap of tangling their business and personal finances...

13 Feb 2020

Christian Wiesener
#BizFinFocus: Exploring alternative sources of state income

Times are tough for the South African economy and this is further negatively affecting state finances with a significant deficit of several billion rands every month...

By Christian Wiesener 12 Feb 2020

Patricia Williams, tax partner at Bowmans and Saica Income Tax Act committee member
#BizFinFocus: More taxes needed, but there's little wiggle room

The minister of finance, National Treasury and the South African Revenue Services (Sars) are facing a challenging tax revenue environment...

By Patricia Williams 10 Feb 2020

Trump and Macron agreed to a detente in their trade spat.
AP Photo/Evan Vucci
France-US skirmish over Amazon digital tax shows why the century-old international tax system is broken

France and the US have managed to avoid turning their recent trade skirmish into a war - for now...

By Ruth Mason 10 Feb 2020

Shutterstock
Many countries regulate e-cigarettes. South Africa should too

Opinions differ on how to regulate electronic cigarettes. But dozens of countries are taking action. In Africa, Kenya already taxes these products, and South Africa is preparing to follow...

By Laura Rossouw 6 Feb 2020

Carbon tax is unavoidable, time to turn to analytics tools
Carbon tax is unavoidable, time to turn to analytics tools

As the 14th largest emitter of carbon dioxide in the world, South Africa has a pressing responsibility to drive a positive response to climate change...

5 Feb 2020

More time for mining industry to comply with FP Regulations
More time for mining industry to comply with FP Regulations

On 17 January 2020, the long-awaited notice extending the transitional timeframe for compliance with the Financial Provisioning Regulations, 2015 (FP Regulations) was published by Minister Creecy (Extension Notice)...

By Garyn Rapson, Gillian Niven and Paula-Ann Novotny 23 Jan 2020

#BFGlobal500: Amazon breaks $200bn mark, still world's most valuable brand
#BFGlobal500: Amazon breaks $200bn mark, still world's most valuable brand

Amazon makes history as the first brand in Brand Finance Global 500 ranking to exceed $200bn value mark and retains title of world's most valuable brand for the third consecutive year...

22 Jan 2020

Impact of free trade area in Africa will be huge
Impact of free trade area in Africa will be huge

Member States of the African Union (AU) have a combined population of over 1.2 billion people and gross domestic product of more than $3.4 trillion - yet the continent accounts for less than 3% of world trade...

By Andrew Skipper 21 Jan 2020

Investing now for the tax audit of the future
Investing now for the tax audit of the future

Transfer pricing is one of the hottest tax issues globally, and Africa is no exception...

By Caleb Langat 24 Dec 2019

#BestofBiz 2019: Finance & Insurance
#BestofBiz 2019: Finance & Insurance

We've compiled our annual #BestofBiz 2019 lists across all our industries featuring our most popular articles, most-read contributors and brand press offices with the most views...

17 Dec 2019

Image source: Getty/Gallo
Caution: Sars wants its share of your Xmas gift from your employer

It's that time of year when many South African companies give their employees festive season gifts to thank them for their service...

By Yolandi Esterhuizen 11 Dec 2019

Digital traders will not escape taxation. Create Jobs 51/Shutterstock
Kenya's tax on digital trade and services: what's known and not known

Kenya will start levying new tax on digital markets under a new law signed by the president early in November...

By Mercy Muendo 9 Dec 2019

Desiree Goodwin
SARS newsflash - how does this affect you?

There have been two new developments at the South African Revenue Service (SARS) this month which will affect most companies...

By Desiree Goodwin, Issued by Meredith Harington 3 Dec 2019

Kyle Mandy
Technology makes it easier for taxpayers

Technology employed by economies across the globe has made it substantially easier for businesses to pay their taxes...

29 Nov 2019

Trust in government, not tax rates, determines citizens’ attitude to taxation. Shutterstock
A theory of a tax revolt: Is South Africa on the brink?

Tax revolts date back to biblical times. Throughout the ages they have exhibited similar symptoms of a decline in taxpayer morale and confidence in a government's ability to manage public finances for the greater good of its citizens...

By Roshelle Ramfol 27 Nov 2019

Donations tax - determining the threshold
Donations tax - determining the threshold

Subject to any applicable exemption, donations tax is payable on the value of any property disposed of under any donation...

By Graeme Palmer 26 Nov 2019

Back to basics: Administrative authorities vs. Courts of Law
Back to basics: Administrative authorities vs. Courts of Law

In April 2018, the Constitutional Court in South Africa handed down a succinct judgment in which it held that an administrative authority's interpretation of legislation is not persuasive authority without more...

By JJ Van der Walt 25 Nov 2019

Dino Zuccollo, fund manager at Westbrooke Alternative Asset Management
Treasury to cap S12J tax incentive

If National Treasury retains the changes on S12J investments, individuals and trusts will now only be allowed to invest R2.5m per annum and corporate investments will be capped at R5m per annum...

25 Nov 2019

Update on unforeseen preference share amendments
Update on unforeseen preference share amendments

The 2019 Taxation Laws Amendment Bill (TLAB) contains a significant and unexpected amendment to the definition of "hybrid equity instrument" in section 8E of the Income Tax Act, which was discussed in a previous alert...

21 Nov 2019

Richard Rattue, MD, Compli-Serve SA
Suptech is upping the game in financial services data analysis

A relatively new concept that joins the ranks of fintech, regtech and insurtech, suptech is shaking up data collection and analysis in financial services on a level we've never seen before...

By Richard Rattue 20 Nov 2019

New exception to the loop structure prohibition for private individuals
New exception to the loop structure prohibition for private individuals

South Africa's exchange control regulations generally prohibit South African residents from holding an interest in a foreign company which, in turn, holds any interests or assets in a Common Monetary Area (CMA) country (so-called "loop structures")...

By Leanne Mostert, Keith Veitch, Donald Fisher-Jeffes, and Cameron MacKenzie 18 Nov 2019

#AfricaCom: Smartphone costs the biggest barrier to a digitally inclusive Africa
#AfricaCom: Smartphone costs the biggest barrier to a digitally inclusive Africa

The next technological evolution is advancing at an exponential rate and by leaving out some on this journey, we allow the current societal divides and inequalities to deepen...

By Sindy Peters 15 Nov 2019

Association of International Certified Professional Accountants comments on OECD digital economy tax proposal
Association of International Certified Professional Accountants comments on OECD digital economy tax proposal

The Association has commented on the OECD's Programme of Work to Develop a Consensus Solution to the Tax Challenges Arising from the Digitalisation of the Economy...

Issued by CIMA 5 Nov 2019

Treasury invites technical tax proposals for 2020 Budget
Treasury invites technical tax proposals for 2020 Budget

The National Treasury has called on the public to submit technical tax proposals to be considered for possible inclusion in the 2020 Budget Review...

5 Nov 2019

Hanno le Roux
Complexities of loans between related parties

In this article we will provide a brief overview of the most common scenarios resulting in loans between related parties that we tend to encounter and look at what the key tax and legal considerations are...

By Hanno le Roux, Issued by Meredith Harington 5 Nov 2019

Shuttershock
Why highly qualified and experienced directors are more at risk of being declared delinquents

It only takes one look at recent newspaper headlines in South Africa to realise that applications to declare directors delinquent are appearing before the country's courts more and more frequently...

By Rehana Cassim 1 Nov 2019

Corporations misused evidence to manipulate health policy. Shutterstock
How business misrepresented evidence: the South African sugar tax story

In a study on the political activities of the soft drinks industry in the lead up to South Africa introducing a sugar tax, we outlined the complex and systematic way in which big corporations and business associations misrepresented evidence to the country's National Treasury...

By Gary Fooks, Gary Sacks, Graham Box & Simon Williams 1 Nov 2019

Sars Commissioner, Edward Kieswetter
Sars' Large Business Centre is back

The South Africa Revenue Service (Sars) Large Business Centre, which was one of the casualties of state capture, has been re-established...

24 Oct 2019

Mike Teuchert, national tax head at Mazars
SA looks to mid-term budget for a turnaround plan

There is no clarity yet about the medium-term budget policy statement (MTBPS). But one thing is certain, Minister Tito Mboweni has his work cut out for him...

21 Oct 2019

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