South Africa’s global minimum tax: a game-changer for corporate taxation
The Global Minimum Tax Act aims to level the playing field for multinationals while potentially adding R8 billion to South Africa’s tax base by 2027.
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SA’s corporate tax base rests on a few large companies
More than 3.6 million companies were registered with SARS, and only 0.1% of them contributed 72.3% of corporate income tax revenue in 2022.
Corporate taxpayers sceptical of SARS’s service delivery gains
Half of corporate taxpayers in PwC’s latest survey express dissatisfaction with SARS’s service improvements. Only 3% report a positive shift, while audit delays and penalty disputes remain a major pain point.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
Precedent-setting case highlights legal hurdles in transfer pricing disputes
The tax dispute between ABD and SARS highlights the complexity of IP royalty pricing and the importance of expert testimony in transfer pricing audits.
