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TaxTalk digital magazine

Please note that due to lockdown regulations on printing and distribution services, TaxTalk has stopped production of its print magazine until further notice. Members and subscribers will continue to receive the bimonthly magazine in digital format. Click here to access the latest edition.  

 

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

Notice R638 GG43399 Sections 19A, 32, 36 and 120 Testing of alcohol strength of spirits - 5 June 2020
BPR 344 Transfer of listed financial instruments to collective investment
GN 296 GG 43361 Notice of expiration of ITAC CE Rebate 412.11 certificates - 28 May 2020

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)

43266 4-5 SARS

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

a right afforded in terms of a tax Act, as defined in the Tax Administration

...

Ursula Vercueil
Monthly Inex March

MonthlyInexMarch

Monthly Gazette Index

National Government Gazettehttp://www.gpwonline.co.za/Gazettes/Gazettes/MonthlyInexMarch.pdf
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300KB

Ursula Vercueil
3102 03-4 TenderBulletin

AIDS HELPLINE: 0800-123-22 Prevention is the cure Government Tender Bulletin REPUBLIC OF SOUTH AFRICA N.B. The Government Printing Works will not be held responsible for the quality of “Hard Copies” or

requirements (e.g. have a valid tax clearance certificate and be in

...

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

​​​30 April 2020 New!



Next due date for comments :

SARS
​29 May 2020



Next due date for comments :

SARS
​​29 May 2020



Next due date for comments :

SARS

International and Regional News
(OECD and ATAF)

Save the date: Sixth OECD Forum on Tax and Crime

Financial crime is one of the greatest threats to the economic and social well‑being of people living in all countries. Illicit financial activities such as tax evasion, corruption, terrorist financing, computer fraud, money laundering and other financial crimes are a global problem demanding a global response.

Platform for Collaboration on Tax releases toolkit to help developing countries tackle the complex issues around taxing offshore indirect transfers of assets

The Platform for Collaboration on Tax released a Toolkit on the Taxation of Offshore Indirect Transfers providing guidance on the design and implementation issues when one country seeks to tax gains on the sale of interests in an entity owning assets located in that country by an entity which is a tax resident in another country.

Thailand joins international efforts against tax evasion and avoidance

Today, at the Thai Embassy in Paris, His Excellency Sarun Charoensuwan, Ambassador of Thailand in France, signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (the Convention). Thailand is the 137th jurisdiction to join the Convention.

CPD Events

PROFESSIONAL INSIGHT

NOL carrybacks and tax refunds: Congress delivers manna from heaven; will the IRS take it away?

A panel will discuss the dangers of claiming tax benefits and potential mitigation strategies, including the use of tax insurance.

Tax equity and carbon sequestration

Join a live update to talk through the various structuring options and where there are still unanswered questions.

The Organisation for Economic co-operation and Development is Cleaning The Globe

Looking at global statistics and for those following international news, it appears South Africans can be grateful for not being hit as hard as other countries by Covid-19; yet. In saying that, South Africa is unlike the United States and countries in Europe that are better equipped to shield its subjects from the ramifications of the pandemic, even if these countries face a much higher infection rate at this stage.

 

The questions on the minds of many are how our health and...

Reabetswe Moloi, Tax Attorney at Tax Consulting South Africa
COVID-19 issues affecting asset and fund managers – tax considerations

COVID-19 issues affecting asset and fund managers – tax considerations

State of the tax equity market

Join a panel of tax equity investors as they discuss the state of the market.

Peter Greensill Family Co Pty Ltd (trustee) v Commissioner of Taxation [2020] FCA 559

The recent Federal Court decision in Greensill creates significant issues for non-resident beneficiaries of Australian discretionary trusts, by imposing capital gains tax on trustees distributing capital gains to non-residents, even if the gains relate to assets which are not taxable Australian property.

US advises Flotek on its eight-figure acquisition of JP3 Measurement

A US team of Norton Rose Fulbright corporate, M&A and tax lawyers advised Flotek Industries, Inc. (Flotek) on its US$34.4 million acquisition of JP3 Measurement, LLC (JP3), a privately held leading data and analytics technology company, in a cash-and-stock transaction.

DAC 6 reporting for finance parties: a Q&A

DAC 6 is a new EU reporting regime targeted at tax-motivated arrangements but framed much more widely

The UK’s digital services tax: what’s new

With effect from 1 April 2020, the UK now has a digital services tax (DST), joining France and Italy which already have in place broadly similar taxes.

Tax News In The Press

GN 305 GG43384 Notice of expiration of ITAC VAT Rebate 412.11 certificate - 3 June 2020
SARSTC VAT 1626 (VAT) [2020] (Johannesburg) (3 March 2020)
COVID-19 Tax Relief Interventions Gazetted

[SAnews.gov.za] National Treasury has gazetted the Notices on Expanding Access to Living Annuity Funds.

The Lifting of the Prohibition of the Sale of Alcoholic Beverages in South Africa

[South African Network of People Who Use Drugs] The South African Network of People Who Use Drugs (SANPUD) note with alarm the significant size of the crowds that have gathered outside of retail liquor outlets and the celebratory atmosphere accompanying them. On 1st of June 2020, South Africa moved from 'level 4' to 'level 3' restrictions promulgated by the government in response to the SARS-Cov-2 pandemic. Principle among the regulatory changes accompanying the shift in levels is the hiatus...

800 Billion Reasons to Be Careful - SA's COVID-19 Rescue Package

[ISS] Stating his intention to set the country on 'a new path of growth, employment and transformation,' South African President Cyril Ramaphosa announced an economic stimulus and recovery plan in September 2018. In the 20 months since then, South Africa's gross domestic product has contracted, its debt service costs increased, its tax revenue shrunk, and its major state-owned enterprises and municipalities have teetered on collapse.

2020 Budget Review Chapter 4 (Revenue trends and tax proposals)