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FEATURED EVENT: 2019 Year-end Tax Update

The year-end update is one of the most important updates for tax practitioners and taxpayers. In this year’s update, Nico Theron from Unicus Tax Specialists SA will cover a selection of important court judgments, rulings (in particular, Binding General Rulings) issued by SARS during the year, regulations and notices issued, as well as some of the important proposed amendments to tax legislation in this year’s round of amendments.

Tax Conference
Important tax dates

Click here to access important tax dates for upcoming months.

SAIT Member book discount

SAIT members qualify for a 20% discount on select LexisNexis and Juta tax publications. Click here to make use of your discount today.

Tax Administration & Interpretation
(SARS and Office of the Tax Ombud)

BPR 333 Venture capital company investment in farming operations
Memorandum on the objects of TALAB B19 of 2019
Draft Response Document on the 2019 Draft Tax Bills - 18 September 2019

TAX CASES

Mark Roy Lifman,The Close Corporations, Companies and Trusts vs C:SARS (Case Number: 22820/2016)

This is an application to stay the execution process commenced pursuant to taxes raised following the late filing of VAT and tax returns, and a section 50 enquiry - Tax Administration Act, 28 of 2011.

SAFLII
Benhaus Mining (Pty) Ltd v CSARS - 22 March 2019

A company that excavates ground and digs up mineral-bearing ore for a fee on delivery to another entity that processes the ore, undertakes mining operations within the meaning of ss 1 and 15(a) of the Income Tax Act 58 of 1968. It is thus entitled to claim deductions of the full amount of capital expenditure on mining equipment in the tax year in which it is incurred, in terms of s 36(7C) of the Act

SARS Court Cases
ABC Company v The Commissioner of SARS (IT 14106) (31 January 2019)

Whether the taxpayer was entitled to be a PBO and be allowed a tax exemption in terms of section 10(1).

SARS Court Cases

Legislative & Policy
(National Treasury & Parliament)

Media statement - Deputy Minister of Finance on Roadshows to Provinces
Treasury
Media Statement - Republic of South Africa issues two new bonds in the International Capital Markets
Treasury
Media Statement - Confirmation of MTBPS date
Treasury

Call For Comment
SAIT member comments can be directed to taxpolicyadmin@thesait.org.za

​1 November 2019 New!



Next due date for comments :

SARS
4 November 2019



Next due date for comments :

SARS
15 November 2019



Next due date for comments :

SARS

International and Regional News
(OECD and ATAF)

Public consultation meeting on the Secretariat Proposal for a "Unified Approach" under Pillar One

As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS, the OECD is seeking public comments on a Secretariat Proposal for a “Unified Approach” under Pillar One. This public consultation meeting will focus on the key questions identified in the consultation document and issues raised in the written submissions received as part of the consultation process.

Regional Meeting and Public Consultation on Tax and Digitalisation for Asian and Pacific Countries

This meeting will focus on the Inclusive Framework's most recent work on consensus-based, long-term solutions to address the tax challenges arising from the digitalisation of the economy and will include a public consultation with interested stakeholders from civil society and the business community on the Secretariat Proposal for a Unified Approach under Pillar One and the Global Anti-Base Erosion Proposal under Pillar Two.

Media Advisory - Release of Revenue Statistics in Africa 2019

The 2019 edition of the tax policy publication Revenue Statistics in Africa will be launched on Tuesday, 19 November, during the African Union’s 13th Session of the Committee of Director Generals of National Statistics Offices. The report provides an overview of the main taxation trends from 1990 to 2017 in 26 African economies.

CPD Events

PROFESSIONAL INSIGHT

IRS launches new enforcement campaign on section 965 transition tax
How the ignorance and lack of knowledge of VAT vendors are affecting the poor, and everyone else

With the increase in the VAT rate from 14% to 15% on 1 April 2018 came great concern regarding the impact thereof on low-income households. The argument is that VAT is a regressive tax and that by increasing the VAT rate the poor are hit even harder than before. Although higher-income households pay more VAT in Rand value with a rate increase, they are still better off than the low-income households as the proportion of their income spent on VAT is less than that of the low-income households...

Anculien Schoeman
Norton Rose Fulbright Luxembourg welcomes new tax partner

Tax lawyer Florent Trouiller has joined Norton Rose Fulbright's Luxembourg office as a partner.

Principal residence trusts for disabled persons: proposed legislative expansion

Our wealth and private client services group recently worked with the Department of Finance (Finance) to try to find a solution to a change in the law that resulted in unfair treatment of disabled Canadians.

Five steps towards building the tax function of tomorrow—today
Deloitte
Streaming series | Tax consequences of mine streaming

Tax consequences of mine streaming

Staying ahead of the curve

Norton Rose Fulbright is delighted to invite you to our annual seminar for charities, foundations, not-for-profit and tax-exempt organizations.

Revenu Québec announces extended deadline of mandatory disclosure of nominee agreements in Quebec

On May 17, 2019, in Information Bulletin 2019-5, the Quebec Ministry of Finance announced that it would now be mandatory to disclose to Revenu Québec nominee agreements that have tax consequences by filing an information return.

The Singapore Convention on Mediation

Mediation is a flexible dispute resolution process, whereby a neutral, third party mediator helps guide the parties in a dispute towards their own resolution.

Tax News In The Press

12 November 2019 - Tax Administration Act
Tax Inspectors Without Borders Saves Millions

[Daily Maverick] Emerging economies lose billions in revenue each year to tax avoidance, and these lost resources prevent millions of people from getting an education, accessing healthcare, or simply being able to survive.

Draft Response Document on the 2019 Draft Tax Bills - 18 September 2019
Presentation to SCOF on the draft response to the Draft Tax Bills - 18 September 2019
Revised Draft Response Document on the 2019 Tax Bills - MTBPS 30 October 2019
Revised presentation to SCOF on the draft response to the Tax Bills - 30 October 2019