ConCourt judgment in Capitec vs SARS clarifies important VAT principles
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
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South Africa eyes stricter reporting laws for cross-border cash movements
Once the draft amendments to the Money Laundering and Terrorist Financing Control Regulations are enacted, failure to submit the required Cash Conveyance Report could lead to imprisonment for up to 15 years or fines of up to R100 million.
Tax collection in 2023/24 comes in at R10bn more than expected
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
Stack up the evidence when claiming interest expenses
Taxpayers carrying on trade as an investment holding company should ensure they can demonstrate a high degree of involvement in the operations of the subsidiaries.
Welcome news for companies in business rescue
SARS’s discretion to write off temporarily an amount of tax debt while a company is subject to business rescue will be reviewed.
Not understanding tax residency may result in significant tax liabilities
You can break tax residency via the SARS tax emigration process or annually via the application of a double taxation agreement.
Ruling sheds light on SARS’s application of section 12B tax incentive
Binding Class Ruling 88 provides guidance on what qualifies as a ‘generation asset’ and how the allowance applies to limited partners investing in solar PV energy assets.
Income from influencer activities is taxable
A common misconception among influencers earning income from international sources is that payments from abroad are not subject to taxation in South Africa.
SARS can seize the property of third parties on the premises identified in a warrant
The suspicion that the third party’s vehicle contained material relevant to the taxpayer under investigation was sufficient for it to be searched, SCA finds.
Budget 2024: how the inflation monster will affect taxpayers
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
Kieswetter agrees to extended term as SARS head amid economic challenges
The commissioner says the Revenue Service has put measures in place to meet the revised estimate for revenue collection.
SARS’s R4.8bn damages claim has no merit, says Sasfin
The summons is a result of SARS’s purported inability to collect taxes owed by former clients that were allegedly part of an international criminal syndicate.
Another amendment coming to curb tax avoidance when making an interest-free loan to a non-resident trust
The context to Treasury’s concern is where the arm’s length interest rate is lower than the official rate of interest.
Fiscal risks to SA remain despite government’s debt-containment measures
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Godongwana’s financial juggling is no substitute for economic growth
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
Tax-smart giving: support education with section 18A amid funding challenges
Danielle Luwes, tax director at Hobbs Sinclair Advisory, provides clarity on the process and benefits of section 18A donations.
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.
