Budget 2024: No inflation-related adjustments to the tax brackets?
Not providing tax relief will be a relatively easy way for a cash-strapped National Treasury to collect revenue.
Author: Amanda Visser
Understand the nuances of anti-avoidance rules, or get a binding ruling
Sars binding private ruling highlights the importance of regularly reviewing the nature of a preference share or an equity instrument.
EU court case may have bearing on SA law
The Court of Justice of the European Union’s recent ruling on the Value Added Tax treatment of directors’ fees prompts a reassessment of local legislation to ascertain the necessity of imposing Vat on such fees.
Considerations when deciding whether to keep a company dormant or close it
An entity can formalise its dormancy by way of a liquidation process or by deregistering with the Companies and Intellectual Property Commission.
Tax professionals ‘should prepare for more major shifts in SA’s tax system’
The compliance landscape has shifted from ticking the boxes to risk anticipation, risk identification, and proper disclosure.
Treasury makes some concessions on drastic tax proposals
Update on draft legislation: the requirement for foreign employers to withhold PAYE, Practice Note 31, and the foreign business establishment exemption.
Share buybacks have a place, but taxpayers should tread carefully
The South African Revenue Service has introduced measures to prevent abuse in share buyback arrangements.
An enforceable restraint of trade – what the court considers
The Labour Court upholds a two-year restraint in a case involving two wealth management companies.
Uncertainty over ‘place of supply’ rules for cross-border transactions
Place of supply rules are becoming more important as transactions become increasingly digital and supply chains become more complex.
‘Major disruptions’ ahead for vendors as Sars modernises its VAT administration framework
Vendors may have to acquire new software to be able to communicate with the Sars systems, or they may have to adjust their existing systems.
Income distributions to non-resident beneficiaries may be taxed twice
An amendment to the Income Tax Act makes it easier for Sars to collect taxes owed by tax non-resident beneficiaries of South African trusts.
Potential threat to South Africans who earn an income from foreign employers
A proposed amendment to the Income Tax Act will require foreign employers to withhold employees’ taxes.
Tax law change may shrink SA multinationals’ global footprint
The Supreme Court of Appeal’s judgment in the Coronation case finds its way into proposed amendments to the ‘controlled foreign company’ rules.
Here are your options if you owe Sars money
Choosing the wrong one could close the door to the dispute resolution process.
Sars has its eye on the application of attribution rules in trusts
Trusts that have failed to comply with the rules are exposed to penalties and fines.
Understand when tax is triggered on crypto assets
Clarity on when a gain is considered revenue or capital.
What the ConCourt’s decision means for the confidentiality of your tax records
There is still a high threshold to meet before access to an individual’s tax records will be granted.
