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SOUTH AFRICA

Tax invoice corrections and the Admin Laws Amendment Bill
Tax invoice corrections and the Admin Laws Amendment Bill

To err is human and mistakes are sometimes made on tax invoices. The draft Administration Laws Amendment Bill, 2018 proposes the inclusion of a new section 20(1B) dealing with errors to tax invoices...

By Graeme Palmer 23 Oct 2018

SOUTH AFRICA

When does prescription start to run against Sars?
When does prescription start to run against Sars?

There are periods of limitations for issuing assessments which are set out in section 99 of the Tax Administration Act 28 of 2011 ("TAA")...

By Graeme Palmer 27 Jun 2018

SOUTH AFRICA

Judgment a tax victory for car manufacturers
Judgment a tax victory for car manufacturers

A recent Supreme Court of Appeal judgment has provided much needed clarity that Productive Asset Allowance certificate amounts granted to automotive manufacturers are capital in nature as their purpose is to incentivise capital investments...

By Joon Chong 26 Jan 2018

SOUTH AFRICA

Which business start-up costs are tax deductible?
Which business start-up costs are tax deductible?

SARS has provided further guidance on when pre-trade expenditure may be deducted for the purpose of determining taxable income...

By Graeme Palmer 27 Sep 2017

SOUTH AFRICA

When is tax payable on sale of property?
When is tax payable on sale of property?

The Tax Court in M v the Commissioner for SARS recently addressed the question of when does income accrue to a taxpayer from the sale of immovable properties in the course of its trade...

By Graeme Palmer 27 Jun 2017

SOUTH AFRICA

Is interest owed on incorrectly calculated penalties?
Is interest owed on incorrectly calculated penalties?

On 21 October 2016, judgment was handed down by the Pretoria High Court in the matter of BMW South Africa v The Commissioner of the South African Revenue Service (SARS)...

By Heinrich Louw 21 Nov 2016

SOUTH AFRICA

New draft rules for foreign employment income tax exemption
New draft rules for foreign employment income tax exemption

SARS recently issued a new draft Interpretation Note 16 on the requirements to qualify for a tax exemption on foreign employment income...

By Graeme Palmer 24 Jun 2016

SOUTH AFRICA

Taxing foreign sport players, entertainers
Taxing foreign sport players, entertainers

Sections of the Income Tax Act provides for the taxation of foreign sportspersons, such as the professional athletes competing in races like the up-coming Comrades...

By Graeme Palmer 24 May 2016

SOUTH AFRICA

Treasury calls for public comments on special voluntary disclosure programme
Treasury calls for public comments on special voluntary disclosure programme

On 12 April 2016, the National Treasury released a media statement in which the public is requested to make formal submissions on draft legislation that sets out the legal framework of the special voluntary disclosure programme (VDP) by 29 April 2016...

By Heinrich Louw 18 Apr 2016

SOUTH AFRICA

Judgement on VAT treatment of student accommodation
Judgement on VAT treatment of student accommodation

In a recent, unreported case, the High Court (Gauteng Division, Pretoria) Respublica v Commissioner for the South African Revenue Service ruled on the value-added tax (VAT) treatment of the lease of a building to a university for purposes of student accommodation...

By Heinrich Louw 29 Mar 2016

SOUTH AFRICA

Beware the interest free shareholder loan
Beware the interest free shareholder loan

Companies often lend funds to their shareholders, for a variety of reasons, and are often referred to as debit loans. However, if a loan is made to a shareholder at a low interest rate or interest free, it may trigger dividends tax...

By Graeme Palmer 1 Mar 2016

SOUTH AFRICA

Court rules that SARS must present all the facts in preservation orders
Court rules that SARS must present all the facts in preservation orders

In The Commissioner for the South African Revenue Service v Sunflower Distributors CC and Others, the court had to decide whether a provisional preservation order granted in favour of the South African Revenue Service (SARS) should be made final.

By Heinrich Louw 3 Feb 2016

SOUTH AFRICA

Graeme Palmer
SARS ruling on payment of shareholder's loan from proceeds of a new share issue

In the recent Binding Private Ruling 208, the South African Revenue Service (SARS) considered the tax consequences of a repayment of a shareholder's loan from the proceeds of a new share issue by a company...

By Graeme Palmer 11 Nov 2015

SOUTH AFRICA

SARS releases another ruling on capitalisation of shareholder loans
SARS releases another ruling on capitalisation of shareholder loans

The South African Revenue Service (SARS) has released a ruling concerned the use of subscription proceeds to repay a shareholder loan...

By Heinrich Louw 13 Oct 2015

SOUTH AFRICA

Has Employment Tax Incentive created jobs?
Has Employment Tax Incentive created jobs?

Now that South Africa is just over halfway through the current legal life of the Employment Tax Incentive (ETI), it is opportune to consider whether the legislation has met its goal of creating new jobs...

By Rob Cooper 14 Sep 2015

SOUTH AFRICA

Graeme Palmer
Understanding tax debt prescription

A tax debt is defined in the Tax Administration Act, 2011 (the TAA) as an amount of tax due or payable in terms of a tax Act and, like any other debt, can prescribe. Once a tax debt prescribes, the South African Revenue Service (SARS) can no longer recover it...

By Graeme Palmer 4 Sep 2015

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