Graeme Palmer
SOUTH AFRICA
Tax invoice corrections and the Admin Laws Amendment Bill

Tax invoice corrections and the Admin Laws Amendment Bill[Graeme Palmer] 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...

Posted 7 months ago | Like
Graeme Palmer
SOUTH AFRICA
When does prescription start to run against Sars?

When does prescription start to run against Sars?[Graeme Palmer] There are periods of limitations for issuing assessments which are set out in section 99 of the Tax Administration Act 28 of 2011 ("TAA")...

Posted 11 months ago | Like
Joon Chong
SOUTH AFRICA
Urgent reinstatement of tax compliance status granted - Webber Wentzel

Joon Chong[Joon Chong] For certain taxpayers, a tax clearance certificate is of utmost importance in ensuring that it is able to receive payment and to tender for new services...

Posted 12 months ago | Like
Joon Chong
SOUTH AFRICA
Overlap in treatment of dividend - Webber Wentzel

Joon Chong[Joon Chong] Section 1 of the Income Tax Act (ITA) defines a "dividend" to be any amount transferred by a resident company for the benefit of any person in respect of any share in that company whether by way of a distribution or consideration for a share repurchase but does not exclude a reduction of contributed tax capital of the company...

Posted 1 year ago | Like
Joon Chong
SOUTH AFRICA
Judgment a tax victory for car manufacturers

Judgment a tax victory for car manufacturers[Joon Chong] 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...

Posted 1 year ago | Like
Graeme Palmer
SOUTH AFRICA
Which business start-up costs are tax deductible?

Which business start-up costs are tax deductible?[Graeme Palmer] SARS has provided further guidance on when pre-trade expenditure may be deducted for the purpose of determining taxable income...

Posted 1 year ago | Like
Graeme Palmer
SOUTH AFRICA
When is tax payable on sale of property?

When is tax payable on sale of property?[Graeme Palmer] 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...

Posted 1 year ago | Like
Heinrich Louw
SOUTH AFRICA
Is interest owed on incorrectly calculated penalties?

Is interest owed on incorrectly calculated penalties?[Heinrich Louw] 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)...

Posted 2 years ago | Like
Graeme Palmer
SOUTH AFRICA
New draft rules for foreign employment income tax exemption

New draft rules for foreign employment income tax exemption[Graeme Palmer] SARS recently issued a new draft Interpretation Note 16 on the requirements to qualify for a tax exemption on foreign employment income...

Posted 2 years ago | Like
Graeme Palmer
SOUTH AFRICA
Taxing foreign sport players, entertainers

Taxing foreign sport players, entertainers[Graeme Palmer] 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...

Posted 3 years ago | Like
Heinrich Louw
SOUTH AFRICA
Treasury calls for public comments on special voluntary disclosure programme

Treasury calls for public comments on special voluntary disclosure programme[Heinrich Louw] 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...

Posted 3 years ago | Like
Heinrich Louw
SOUTH AFRICA
Judgement on VAT treatment of student accommodation

Judgement on VAT treatment of student accommodation[Heinrich Louw] 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...

Posted 3 years ago | Like
Graeme Palmer
SOUTH AFRICA
Beware the interest free shareholder loan

Beware the interest free shareholder loan[Graeme Palmer] 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...

Posted 3 years ago | Like
Heinrich Louw
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[Heinrich Louw] 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.

Posted 3 years ago | Like
Heinrich Louw
SOUTH AFRICA
SARS releases another ruling on capitalisation of shareholder loans

SARS releases another ruling on capitalisation of shareholder loans[Heinrich Louw] The South African Revenue Service (SARS) has released a ruling concerned the use of subscription proceeds to repay a shareholder loan...

Posted 3 years ago | Like