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Legal aspects of financing corporates
Legal aspects of financing corporates

Legal Aspects of Financing Corporates covers the gamut of legal and taxation implications concerning the financing of corporates and will be of great use to postgraduate students in commercial law, corporate advisors, lawyers, in-house counsel, financial institutions and SARS employees...

Issued by LexisNexis 31 Jul 2019

S12J has a sunset clause. Image source: Getty/Gallo
TLAB impacts on Section 12J tax incentive

The 2019 Draft Taxation Laws Amendment Bill (TLAB) has been released and contains proposed amendments to certain elements to the Section 12J tax incentive...

31 Jul 2019

Paying for your sins - why enforcing tax laws on churches could be problematic
Paying for your sins - why enforcing tax laws on churches could be problematic

The case of self-proclaimed prophet Shepherd Bushiri and his wife, who were arrested by the Hawks earlier this year on charges of fraud and money laundering, has cast the spotlight on tax laws relating to churches and religious institutions, and whether any loopholes that exist are being exploited...

30 Jul 2019

Image source: Getty/Gallo
VAT on foreign electronic services will be hard to collect

The South African Value Added Tax Act Amended Regulations state that foreign suppliers of more than R1m pf "electronic services" over the preceding 12 month period are obliged to register for VAT in South Africa...

26 Jul 2019

3 steps towards 'glass boxing' your company with a Biz Press Office
3 steps towards 'glass boxing' your company with a Biz Press Office

Since 2001, Bizcommunity anticipated the role of company culture as intellectual capital. Biz Press Offices are a "glass box" game changer, offering a window into 18 industry communities...

Issued by Bizcommunity.com 23 Jul 2019

South Africa’s agriculture and food production industries are exempt from the carbon tax - for now. Shutterstock
South Africa's carbon tax matters - for the economy and tackling climate change

Carbon tax is likely to be an effective way of mitigating greenhouse gas emissions, which lead to climate change and have negative consequences for human life...

By Mmatlou Kalaba & Heinrich Bohlmann 19 Jul 2019

Image source: Getty/Gallo
Obscure law gives Sars power to pierce the corporate veil

A relatively unknown piece of legislation could be a new ace up the sleeves of the South African Revenue Service (Sars) as it tries to catch shareholders who hide behind a company to avoid paying tax...

By Alec Basson 11 Jul 2019

Sars to host roadshows to discuss new customs legislation - book now
Sars to host roadshows to discuss new customs legislation - book now

On 1 July 2019, in communication addressed to external stakeholders, the Sars confirmed that it would be embarking on roadshows to discuss the new customs legislation, from 22 July to 1 August 2019...

By Busisiwe Vilakazi 3 Jul 2019

Mining in Mpumalanga. Archive photo: Mpumalanga Tourism & Parks Agency
Billions in mining royalties intended for the poor squandered, stolen or diverted

Billions in mining royalties intended to uplift poor communities are potentially being squandered, stolen or diverted due to in-fighting and maladministration of these funds...

By Ciaran Ryan 2 Jul 2019

Tax victory for SA subsidiary with Dutch shareholder puts Sars in a pinch
Tax victory for SA subsidiary with Dutch shareholder puts Sars in a pinch

After a taxpayer with a Netherlands shareholder scored an unexpected court victory against Sars, the big question for similarly affected corporate taxpayers is: Would it be best to apply now for a dividends tax refund or rather wait and see what Sars does next...?

By Robyn Berger and Esther Geldenhuys 28 Jun 2019

Image source: Gallo/Getty
Non-profit companies: get your PBO application right

There are tax benefits for registering a non-profit organisation as a public benefit organisation (PBO) with the South African Revenue Service (SARS), whether such organisation is a non-profit company, trust or association...

By Graeme Palmer 28 Jun 2019

Further postponement of new Declaration Processing System
Further postponement of new Declaration Processing System

In communication addressed to external stakeholders last year, Sars confirmed that it had identified three main focus areas in the implementation of the New Customs Acts Programme, which included the Declaration Processing System (DPS)...

By Busisiwe Vilakazi 25 Jun 2019

New Customs rules proposed to control tobacco supply chain
New Customs rules proposed to control tobacco supply chain

Earlier this year it was announced that the Sars had embarked on a number of strategic initiatives to curb revenue leakages. In line with this initiative, Sars has proposed new draft rules that require the registration at Customs of each tobacco leaf threshing factory...

20 Jun 2019

Global cryptocurrency regulation standards expected in June
Global cryptocurrency regulation standards expected in June

During a speech at Consenus 2019, Sigal Mandelker, the US Treasury's Under Secretary for Terrorism and Financial Intelligence, reiterated the projection that the Financial Action Task Force (FATF) will adopt international standards for cryptocurrency-based services in June 2019...

By Christopher Murrer and Dean Joffe 14 Jun 2019

Ripple effect of carbon tax on Customs and Excise Laws
Ripple effect of carbon tax on Customs and Excise Laws

The Carbon Tax Act and Customs and Excise Amendment Act were approved by the President in May, with the purpose of the latter to provide for the administration and collection of Carbon Tax revenue...

By Virusha Subban and Matthew Tout 7 Jun 2019

Tax return submission raised to R500,000
Tax return submission raised to R500,000

Taxpayers with an annual income not exceeding R500,000 will no longer be required to submit tax returns...

4 Jun 2019

Civil society concerned over South Africa's weak carbon tax
Civil society concerned over South Africa's weak carbon tax

The African Climate Reality Project (ACRP) welcomes the implementation of a carbon tax in South Africa as of 1 June 2019...

By Noelle Garcin 3 Jun 2019

Carbon Tax Bill: What effect will this have on corporate SA?
Carbon Tax Bill: What effect will this have on corporate SA?

The long-awaited Carbon Tax Bill, which is due to be implemented on 1 June 2019, will have a considerable impact on many of the large corporates that are currently operating in South Africa...

31 May 2019

Carbon tax revenues could be harnessed to help South Africa's poor
Carbon tax revenues could be harnessed to help South Africa's poor

Climate change needs urgent action by all countries, and by all means...

By Harald Winkler and Andrew Marquard 31 May 2019

Why you should think twice before giving your kid a brand new Merc...
Why you should think twice before giving your kid a brand new Merc...

There are a few things to consider before giving your 21-year-old any luxury assets. Sars might ask whether you're being generous because you can afford it... or if you're being 'shady' and dodging creditors and donations tax...

By David Thomson 28 May 2019

Looking abroad: Some possible insight into SA's forthcoming gambling tax
Looking abroad: Some possible insight into SA's forthcoming gambling tax

The draft legislation on gambling tax will possibly be published with the draft Taxation Laws Amendment Bill in the next few months, but while we wait for its release, we take the opportunity to consider some of the issues that have arisen with gambling tax in foreign jurisdictions...

By Louise Kotze and Louis Botha 24 May 2019

Graeme Palmer
Gift cards and the deferral of tax liability

The age-old question of whether moneys 'received' by the taxpayer fall within the meaning of gross income was recently addressed by the Tax Court in A Company v CSAR (IT24510).

By Graeme Palmer 22 May 2019

What are transport services "rendered by the employer"? Sars clarifies...
What are transport services "rendered by the employer"? Sars clarifies...

To assist employers and employees with overcoming transport-related difficulties, the Income Tax Act introduced a mechanism to allow employers to provide transport services to their employees and that, although qualifying as a taxable fringe benefit in the employees' hands, no taxable value was given to such benefit...

By Wesley Grimm, assisted by Sergio dos Santos 16 May 2019

Image source: Getty/Gallo
6 Sars audit tips for the captured

What should Edward Kieswetter's first actions be now that he has taken over the reins at South African Revenue Service (Sars)?

By Jean du Toit 2 May 2019

Sars brings in tech to fight illicit trade
Sars brings in tech to fight illicit trade

The South African Revenue Service (Sars) has embarked on a number of strategic initiatives to curb revenue leakages emanating from illegal and unethical practices in the illicit economy.

30 Apr 2019

Image source: Getty/Gallo
Tax and the ethics of paying back the money

Companies can't just pretty up their board of directors with figure heads, appointed for their reputation and the contacts that they will bring to the particular organisation...

By Jerry Botha & Jonathan Goldberg 15 Apr 2019

Verification vs tax audits - Sars must give notice of both
Verification vs tax audits - Sars must give notice of both

It's that time of the year.... When we all have the tedious task of gathering documentation and tax certificates and ensuring we are compliant with Sars. But once it's done, it is a huge weight off individuals and companies' shoulders...

5 Apr 2019

Revised Carbon Tax Bill introduced to Parliament
Revised Carbon Tax Bill introduced to Parliament

Last week the minister of finance introduced the revised Carbon Tax Bill (Bill) to Parliament, which aims to give effect to South Africa's objectives and commitments to reduce greenhouse gas (GHG) emissions...

By Gillian Niven & Nirvasha Singh 2 Apr 2019

How do new VAT cross-border e-commerce rules affect suppliers?
How do new VAT cross-border e-commerce rules affect suppliers?

The indirect taxation of cross-border e-commerce transactions have been high on the agenda for tax authorities worldwide. There is clearly a perception that much of these transactions are escaping indirect tax (essentially VAT) because the supplier and consumer are in different jurisdictions...

By Des Kruger 1 Apr 2019

Proposed zero-rating of sanitary towels (pads) a slightly hollow victory for SA women - here's why
Proposed zero-rating of sanitary towels (pads) a slightly hollow victory for SA women - here's why

During the medium-term budget in October 2018, the minister of finance announced that sanitary towels (pads) will be included in the list of those items that are zero rated for VAT purposes...

By Kagiso Nonyane 28 Mar 2019

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