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CPD EVENT: CROSS-BORDER CONSIDERATIONS FOR ADVISERS: GLOBAL FAMILIES AND BUSINESS OWNERS 2020

Advising clients on the key considerations of wealth and succession planning by global expansion or relocation without being aware of the South African consequences and that of the anticipated end-jurisdiction(s) could create an undesirable tax, legal, family and business succession web and an array of disputes.

Tax Indaba Online

It's official! Tax Indaba 2020 will be taking place ONLINE from 7-9 September. View the website for more details (www.taxindaba.co.za).

TaxTalk's Special Issue is Out!

TaxTalk’s special Income Tax Return Issue is out! This how-to guide is the perfect handbook leading up to Tax Season 2020.

SAIT members and TaxTalk subscribers, access your copy here.

Non-members, purchase a copy here (specify the Jul/Aug 2020 issue).

 

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

FAIR PLAY ISSUE 16

Welcome to the sixteenth issue of the Office of the Tax Ombud’s stakeholder newsletter, Fair Play, a vibrant and informative newsletter which aims to keep stakeholders abreast of important matters affecting the Office and developments in the tax recourse sphere. Click the link below to read the full newsletter or find it on our Publications Page.

Tax Ombud
MEDIA STATEMENT: TAX OMBUD RELEASES FINDINGS OF HIS SECOND SYSTEMIC INVESTIGATION
Tax Ombud
SARS ONLINE QUERY SYSTEM

TAX CASES

Z v Commissioner for the South African Revenue Service (IT4412) [2019] ZATC 13 (26 August 2019)
X v Commissioner for the South African Revenue Service (IT13862; VAT1374) [2019] ZATC 12 (6 August 2019)
ABC Limited v Commissioner for the South African Revenue Service (IT14255) [2019] ZATC 11 (9 July 2019)

Legislative & Policy
(National Treasury & Parliament)

Media statement: MFMA Exemption Notice
Treasury
Government Gazette 43582 Local Government: Municipal Finance Management Act, 2003: Exemption from Act
Treasury
43496 03-07 NationalRegulation

Regulation Gazette No. 10177 Regulasiekoerant N.B. The Government Printing Works will not be held responsible for the quality of “Hard Copies” or “Electronic Files” submitted for publication purposes AIDS HELPLINE: 0800-0123-22 Prevention is the cure Government Gazette

...

Ursula Vercueil

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

​21 August 2020 New!



Next due date for comments :

SARS
​31 August 2020 New!



Next due date for comments :

SARS
​18 September 2020



Next due date for comments :

SARS

International and Regional News
(OECD and ATAF)

OECD Taxation Working Paper 49: Reassessing the regressivity of the VAT

This paper reassesses the often-made conclusion that the VAT is regressive, drawing on tax microsimulation models constructed for an unprecedented 27 OECD countries.

OECD and Brazil's federal revenue authority invite taxpayer input on transfer pricing issues relating to the design of safe-harbour provisions and other comparability considerations

As part of the implementation phase of a joint transfer pricing project between the OECD and Brazil, the OECD Secretariat and Receita Federal do Brasil are seeking public input to inform the work related to the development of safe harbours as well as other simplification measures and measures that can contribute to enhanced tax certainty.

A OCDE e a Receita Federal do Brasil (RFB) convidam os contribuintes para colaborar com questões de preços de transferência relacionadas ao desenvolvimento de regras de safe harbours e outras considerações de comparabilidade

Como parte da fase de implementação do projeto conjunto de preços de transferência entre a OCDE e o Brasil, o Secretariado da OCDE e a Receita Federal do Brasil lançaram uma pesquisa buscando colaboração pública para informar o trabalho relacionado ao desenvolvimento de safe harbours e outras medidas de simplificação e que possam contribuir para aumentar a segurança jurídica em matéria tributária.

CPD Events

PROFESSIONAL INSIGHT

Global criminal tax enforcement in the cryptocurrency industry; the Tax Man means business

A panel will cover obstacles faced by the crypto industry and provide guidance on staying current with tax obligations to avoid civil and criminal exposure.

A COVID-19 response for tax and legal leaders

As the pandemic sends shockwaves through the global economy,

navigate uncertainty with clarity, confidence, and insight.

Deloitte
Taking tax to the cloud

Why leading businesses are putting tax at the center of their ERP cloud migration

Deloitte
Finding opportunity in the midst of uncertainty

Seventh annual global survey on the OECD’s Base Erosion and Profit Shifting (BEPS) initiative and the next wave of Global Tax Reset

Deloitte
What you need to know about tax if your job is commission-based - Latest Nigerian News

Commission earners could make an argument to SARS that they should be allowed to deduct their normal range of business expenses, even if ...

Webber Wentzel News
SARS TO NAME AND SHAME TAX DODGERS

Is SARS allowed to “name and shame”?

There are very limited circumstances where taxpayer information may be disclosed, such as divulging the information in terms of a court order, if the taxpayer gives written consent or where a specific Act expressly overrides the secrecy provisions.

Section 74, however, determines that the Commissioner may publish the name of a taxpayer where they are convicted of a tax offence. For those who believe a “tax offence” is...

Condition of the tax equity market

Many developers report trouble raising tax equity this year for renewable energy projects.

The “discrepancy” SMS from SARS – what should you do?

Why are you getting this SMS?

This communication appears a result on SARS’ new 3 phased automated filing process. During Phase 1 (15 April – 31 May), third party providers submitted information that will be used to auto-assess taxpayers. Third party providers include employers, banks, insurers, retirement fund administrators, retirement funds and medical schemes.

During Phase 2 (1 June – 31 August), taxpayers and tax practitioners...

CONSTITUTIONAL COURT GIVES HEFTY SARS BLOW TO FRANCHISE INDUSTRY

Talk about bad timing. The Constitutional Court on 21 July 2020, after some 250 days of deliberation, decided that the way in which many franchise operators have been claiming their tax expenses does not rank for tax relief. SARS must be extremely pleased with the win, only the 4th ever tax related judgement delivered by the Constitutional Court since its inception. However, the harm to our franchise industry may be severe and those who survive the Covid-19 pandemic will now also...

Tax News In The Press

As Exchange Controls Are Relaxed, the Tax Net Gets Tighter

[Daily Maverick] As announced in the February 2020 Budget, the foreign exchange control system will be modernised and a new capital flow management system will be put in place. These changes necessitated some tax changes, which were announced in the 2020 Draft Taxation Laws Amendment Bill that was published for comment a fortnight ago. It will bring an end to what we know as 'financial emigration'.

Daily Maverick
Progress for Women and Girls Is Essential Amid Covid-19 – Dr. Senait Fisseha

[allAfrica] Women and girls are hardest hit by social and economic circumstances stemming from the SARS-CoV-2 virus that causes Covid-19, according to analyses by multiple international organizations. Pre-existing poverty and virus-control restrictions leave millions across sub Saharan Africa without sanitary wear, clean water or medical supplies for children. Closed schools mean larger numbers of girls are forced into early marriage. Yet most women and girls who want protection from...

allAfrica
Judge Ngoepe Hits Back At Match-Fixing Racism Claims

[Daily Maverick] Judge Bernard Ngoepe has hit back at claims by former Proteas wicketkeeper Thami Tsolekile that a match-fixing investigation only targeted black players and that he did not receive any charges during the investigation that started in 2015.

Daily Maverick
SARSTC VAT 1712 (VAT) [2020] (Johannesburg) (29 April 2020) (Supply)
SARSTC VAT 1712 (VAT) [2020] (Johannesburg) (29 April 2020) (Fringe Benefit)
Finance Committees Briefed By National Treasury On Procurement of Covid-19 PPE

[Parliament of South Africa] The Standing Committee on Finance, together with the Select Committee on Finance, were briefed by the National Treasury on the procurement of personal protective equipment (PPEs) for Covid-19.

Parliament of South Africa