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SAIT Trending Topics

FEATURED EVENT: Trusts and Beneficiaries Loan accounts, foreign dividends and deductible expenses

The 2018 Taxation Amendments have created an entirely new set of limitations when using local and offshore trusts for tax planning. In this seminar we will focus on these far-reaching changes and their impact. 

Tax Conference
NEW eFiling updates

Updates on technical issues encountered on eFiling, with feedback from SARS and SAIT.

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

Comprehensive Guide to Dividends Tax Issue 2 Archived 12 September 2019
Comprehensive Guide to Dividends Tax Issue 1 Archived 12 September 2019
Notice R1165 GG 42698 Rule 49A - 13 Sept 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)

SAIT PIT and Employment Tax Work Group comments
SAIT International Tax Work Group comments
SAIT Tax Administration Technical Work Group comments

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

​10 October 2019 New!



Next due date for comments :

SARS
11 October 2019



Next due date for comments :

SARS
​15 November 2019 New!



Next due date for comments :

SARS

International and Regional News
(OECD and ATAF)

OECD special session at IFA Congress 2019

As part of a new project on tax morale, the OECD has recently reanalysed the results of a survey of business perceptions on tax certainty, to identify the constraints and concerns they face in paying in taxes around the world. This new report, to be launched at this session, has identified some of the factors that may impact tax morale and attitudes towards compliance among businesses, and how they differ in different regions.

Boosting tax morale – so people and businesses pay tax

Tax Morale: What Drives People and Businesses to Pay Tax? assesses the various drivers behind voluntary compliance with tax obligations, particularly in developing countries where issues of governance are more acute.

OECD Tax Certainty Day - 16 September 2019

Rapid digitalisation of the economy, the emergence of new business models and increased internationalization are increasing pressure on audit practices and driving changes in the international tax rules. Maintaining and enhancing tax certainty brings benefits for taxpayers and tax administrations alike, and will be key for promoting the investment, jobs and growth of the future.

CPD Events

PROFESSIONAL INSIGHT

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.

What the new carbon tax means for SA industry
Deloitte
Warranty and indemnity insurance in South Africa’s M&A environment

Warranty and indemnity (W&I) insurance provides cover for losses arising from a breach of a warranty and claims under a tax indemnity arising from a merger or acquisition (M&A) contract.

DAC 6: UK implementation of the new EU tax disclosure rules

DAC 6 imposes mandatory reporting of cross-border arrangements affecting at least one EU member state where the arrangements fall within one of a number of “hallmarks”.

29/07/19 VAT Alert - VAT treatment of foreign donor funded projects On 22 July, the Draft Taxation Laws Amendment Bill, 2019, was released for public comment and contains proposed amendments VAT treatment of foreign donor funded projects. Download P...
PWC
Real Estate Focus – July 2019

In this edition, we provide updates on proposed reforms to residential leases;, a new register of overseas entities;, property taxes; and the effect of Brexit on leases.

Africa Tax Update: Quarterly Newsletter

On 30 May 2019, an important milestone in the history of Africa was reached when the Agreement establishing the Africa Continental Free Trade Area (AfCFTA) entered into force.
In this edition, our contributors look at the AfCFTA from two different angles.
Download the newsletter here
 
 
 
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Femi Oke

Tax News In The Press

13 September 2019 - SARS response to gender-based violence and violence in general
Draft Amendments Sch1P1 carbon emissions tax
Draft Amendments Sch6P6 rebates and refunds on carbon tax
The VBS Aftermath - 'If We Speak, They Will Kill Us'

[Daily Maverick] The favourite line of fraudsters and tax cheats is that it's victimless crime - just ask the State Capture players. But scratch this thinnest of veneers and it is easy to identify real-life damage to the poorest of the poor. The victims of the VBS collapse had their lives ruined - we went searching for them.

  ASK AN ADVISOR

I currently fully own Company A, which owns shares in another company, Company B. Company B went through a funding round and I’ve chosen to sell some shares belonging to Company A. I’ve paid capital gains tax (CGT) on the share sale amount from company A (22.4%). If I proceed with financial emigration to Mauritius by purchasing a property (or my company purchasing the property), will I still be liable for paying CGT personally for my shares held in Company A? If so, can you suggest any tax-...

Brian Butchart
New rules make ‘brass plate’ companies extremely risky

A new layer of compliance designed to clamp down on the use of ‘international finance centres’ by multinational companies as low or no tax jurisdictions has been added to the already increasingly complex offshore world. 

Amanda Visser