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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 174 GG44229 Rate per kilometre in respect of motor vehicles Budget 2021 5 March 2021
General Note on Stoporder Against Benefits archived 4 March 2021
GN 1 Transfers Pension Provident Funds 14 September 1990 Arrangement archived 4 March 2021

TAX CASES

ABC (Pty) Ltd v Commissioner for the South African Revenue Service (0037/2019) [2020] ZATC 20 (1 June 2020)
ABC (Pty) Ltd v Commissioner for the South African Revenue Service (0085/2019) [2020] ZATC 19 (1 September 2020)
ABC (Pty) Ltd v Commissioner for the South African Revenue Service (IT 14305) [2021] ZATC 1 (7 January 2021)

Legislative & Policy
(National Treasury & Parliament)

Minister of Finance's Opposing Affidavit (CC)
Treasury
Invitation to South African Institutions of Higher Learning to participate In the 2021 Budget Outreach Initiative
Treasury
44080 20-1 Tax Administration Laws Amend Act 24 of 2020

Act No. 24 of 2020: Tax Administration Laws Amendment Act, 2020 Wet

textual corrections; ● amend the Income Tax Act, 1962, so as to

to align situations where withholding tax on royalties was due and

with that of withholding tax on interest; to provide that...

Rentia Janse Van Niewenhuizen

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

​1 October 2020



Next due date for comments :

SARS
​8 October 2020 New!



Next due date for comments :

SARS
​11 August 2020



Next due date for comments :

SARS

International and Regional News
(OECD and ATAF)

OECD calls on countries to crack down on the professionals enabling tax and white collar crimes

Countries should increase efforts to better deter, detect and disrupt the activities of professionals who enable tax evasion and other financial crimes, according to a new OECD report.

OECD agrees new peer review process to foster transparency on tax rulings

In order to maintain and further improve transparency on tax rulings, the OECD/G20 Inclusive Framework on BEPS, which groups over 135 countries and jurisdictions on an equal footing for multilateral negotiation of international tax rules, approved the process for the BEPS Action 5 peer review of the transparency framework for the years 2021 to 2025.

Release of Ending the Shell Game: Cracking down on the Professionals who enable Tax and White Collar Crimes

Thursday 25 February at 11:00 CET

White collar crimes like tax evasion, bribery and corruption are often concealed through complex legal structures and financial transactions facilitated by lawyers, accountants, financial institutions and other “professional enablers”. These crimes can have significant impacts on government revenue, public confidence and economic growth.

CPD Events

PROFESSIONAL INSIGHT

Nothing very flash about Sars’s eFiling tech - Stuff Magazine

The SA Revenue Service (Sars) has rolled out a dedicated browser that supports Adobe Flash Player, which should allow users to access its ...

Webber Wentzel News
Tax hikes you are likely to see next week – and those you won’t - Cape Business News

Analysts and economists are detailing their predictions for finance minister Tito Mboweni’s budget speech on 24 February, with a particular ...

Webber Wentzel News
Experts call for a 20% sugar tax hike to boost health - The South African

Experts are calling for a 20% hike in sugar tax due to the health sector's ongoing battle with the COVID-19 pandemic.

Webber Wentzel News
BDO publishes World of Private Client Services report
  • Research reveals 71% of respondents feel that wealthy individuals are still moderately or very concerned with privacy and safety risks posed by tax transparency
  • 69% said the need to diversify investment is the driving force behind attitudes to legacy among wealthy families
  • 57% of respondents expect significant or judicious alterations to wealth strategy after the height of COVID-19

In a time of disruption, thoughtful decision-making lies ahead for high net...

Deduction disallowance for fines and penalties and the corresponding reporting requirements

The Internal Revenue Service released the long-awaited final regulations governing the deductibility of fines and similar penalties paid to governmental entities (and certain nongovernmental regulatory entities) under tax code Section 162(f).

Real Estate Focus: January 2021

In this edition we take a look at the Supreme Court’s decision in a test case on business interruption insurance; the latest on VAT and termination payments; significant residential leasehold reforms in the pipeline; and proposals to improve the energy performance of residential property through lenders.

The Netherlands: Corporate tax update 2021

A previously promised reduction of the top corporate income tax rate has been postponed and the top rate remains at 25 per cent. However, the lower tier tax bracket will be reduced to 15 per cent. In addition the lower tier tax bracket will be raised to EUR 245,000 and this will be further extended to EUR 395,000 in 2022.

Impact of Brexit on Tax

Little changed for UK businesses from a tax perspective when the UK left the EU on 31 January 2020.

Cost of capital: 2021 outlook

Join a conference call among a group of project finance industry veterans about what to expect in the year ahead for tax equity, bank and term loan B debt and project bonds.

Tax News In The Press

Collision of Failures - How Biovac and a 'Lack of Vision' Got South Africa Into a Vaccine Mess

[Daily Maverick] Inclusive growth during a pandemic looks as elusive as ever, but it's less about economics and more about politics. A Wits webinar session Professor Imraan Valodia and Judge Dennis Davis dived into the quagmire.

Daily Maverick
Treasury's Mission to Make South Africa's Tax Regime More Efficient

[Daily Maverick] The 2021/22 Budget's focus is on making the tax regime more efficient - whether it's upgrading SA's border posts or understanding how best to tax digital giants like Facebook and Google.

Daily Maverick
Sinkhole Opens Up Beneath South Africa's Mining Industry

[Daily Maverick] In the same week that Finance Minister Tito Mboweni delivered his Budget speech, the Canadian-based Fraser Institute published its annual survey and Investment Attractiveness Index of mining jurisdictions, which focuses on exploration investment.

Daily Maverick
NGOs Warn Latest Budget Will Have Bad Outcomes for Education

[GroundUp] On Wednesday members of Equal Education picketed outside Parliament ahead of the budget speech to demand that Minister of Finance Tito Mboweni allocate more funds to basic education.

GroundUp
Draft IN59 (Issue 2) - Tax treatment of the receipt or accrual of government grants 26 February 2021
SARS Sets Up New Unit for Wealthy Taxpayers

[SAnews.gov.za] The South African Revenue Service has announced the formation of a High Wealth Individual (HWI) Taxpayer Segment, which will focus on wealthy taxpayers with complex financial arrangements.

SAnews.gov.za