‘Instructive remarks’ from the Constitutional Court on understatement penalties
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
Financial planner Lara Warburton says clients believe trustee-endorsed annuities don’t offer enough flexibility or returns to sustain them through long retirement periods.
Expert legal interpretations, even if contrary to SARS’s stance, may not automatically result in understatement penalties.
The court’s interpretation and application of the conduit principle has implications for structures involving layers of multiple discretionary trusts.
An Interpretation Note provides clear guidelines on when a practitioner can be prohibited from registering or deregistered due to non-compliance.
The decision could set a precedent for taxpayers seeking relief from interest after reaching a Voluntary Disclosure Programme agreement with SARS.
SARS’s discretion to write off temporarily an amount of tax debt while a company is subject to business rescue will be reviewed.
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.
The compliance landscape has shifted from ticking the boxes to risk anticipation, risk identification, and proper disclosure.