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

2018 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill
Budget 2018 - subsistence regulations - 21 February 2018
Budget 2018 - rate per kilometre in respect of motor vehicles - 21 February 2018

Legislative & Policy
(National Treasury & Davis Tax Committee)

Media Advisory: 2018 National Budget Tips - Make your opinon known and ideas heard
Treasury
Provisional Financing Figures as at 31 January 2018
Treasury
Media Statement: National Treasury’s views on Viceroy’s Capitec Report
Treasury

Call For Comment

​Income Tax Act, 1962

Draft Interpretation Note on leasehold improvements. Next due date for comments: ​11 May 2018

SARS
​Customs & Excise Act, 1964

Draft rules under sections 39B and 41 incomplete and provisional entriescover note. Next due date for comments: 21 February 2018 New!​

SARS
​Tax Administration Act, 2011

Returns of information to be submitted by third parties in terms of section 26 of the Tax Administration Act, 2011. Next due date for comments: 14 February 2018

SARS

CPD Events

PROFESSIONAL INSIGHT

Residential property developers face cash flow crunch due to VAT on temporary letting of units

Many residential property developers will kick off 2018 with a major cash flow challenge as a result of a substantial value added tax (VAT) liability which they may face in respect of the temporary letting of residential units which have been developed for resale. 

Gerhard Badenhorst
Consecutive asset-for-share transactions

Section 42 of the Income Tax Act, No 58 of 1962 (Act) allows taxpayers to transfer assets to a company free of immediate tax consequences, provided certain requirements are met; there is a “roll-over” for tax purposes. However, certain anti-avoidance provisions may be triggered if the company that acquired the assets, disposes of the assets within 18 months of acquisition.

Ben Strauss
Non-Executive Directors and VAT registration

SARS has recently issued Binding General Ruling (BGR) 40 (Remuneration paid to non-executive directors) and Binding General Ruling 41 (VAT treatment of non-executive directors).Following on from the conclusion in BGR 40 that an NED is not considered to be a common law employee (i.e. an NED director’s fees do not constitute remuneration), an NED is treated as an independent contractor for VAT purposes.Therefore, NEDs will be carrying on enterprises for VAT purposes on the basis that they...

KPMG South Africa
Loan or credit advanced to a trust by a connected person

The Tax Laws Amendment Act of 2016, introduced anti-avoidance provisions to prevent estate duty and donations tax avoidance through the use of interest-free or low interest loans to a trust. These provisions, as contained in section 7C of the Income Tax Act No. 58 of 1962 (the “Income Tax Act”), are applicable to loans or credit advanced to a trust by a connected person and such loan or credit was provided before, on or after 1 March 2017.The provisions of section 7C are applicable to both...

KPMG South Africa
Tax Solutions for Mining

Understanding the complexities of mining operations, providing simplified solutions

Tax havens and the game of hide and seek

Insight into cross border tax practices of multinationals

Deloitte International Tax Source
Trends in Transfer Pricing

Global Research Bulletin

Deloitte School of Tax

Infusing Tax Technical Skills

Tax News In The Press

‘Least bad’ option for SA is VAT hike

After the euphoria of President Cyril Ramaphosa’s State of the Nation speech, the 2018 Budget speech due tomorrow will bring South Africa down to earth with a bit of a bump. The president said that hard choices will be needed – but making hard choices in five days is a big ask.

Nazmeera Moola
Tax change to travel reimbursement aims to simplify complexity

The introduction of a simplified method to calculate the taxable portion of travel reimbursements is a step in the right direction, but it brings with it some challenges for employers, experts say.

Ingé Lamprecht
19 February 2018 - SARS welcomes presidential inquiry
Budget 2018: 5 tax questions to watch

South Africa has been gripped with a renewed sense of optimism amid indications of political change, rand strength and an improved economic outlook, but the country’s fiscal situation remains challenging.

Ingé Lamprecht
Tax community makes urgent plea for a rethink of new debt waiver rules

Tax experts and industry bodies have made an urgent plea for an amendment to and a postponement of new debt waiver rules which became effective last month (January 2018).

Amanda Visser
Op-Ed: 2017 worst year yet for S.A tax payers

For taxpayers, this year is the worst ever, and the next two years are projected to be even worse.