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S.Africa: United Kingdom: Major Victory for VWFS in Partial Exemption VAT Case

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S.Africa: United Kingdom: Major Victory for VWFS in Partial Exemption VAT Case Posted on August 25, 2015. This UK VAT judgment will impact VAT apportionment cases in South Africa: United Kingdom: Major Victory for VWFS in Partial Exemption Case A recent significant decision concerns the victory of Volkswagen Financial Services (U.K.) Ltd (“VWFS”) in the […]

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S.Africa: proposed unilateral extension of prescription by SARS

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proposed unilateral extension of prescription by SARS by Nicolette Smit, ENS Section 99 of the Tax Administration Act, 28 of 2011 (“Tax Admin Act”) regulates prescription in relation to tax assessments and provides for a three year prescription period in respect of income tax assessments and a five year prescription period in the case of

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Nigeria: PwC secures a favourable judgement on deemed income assessment August 2015

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In brief In a recent decision, the Tax Appeal Tribunal (TAT) says a tax authority must act reasonably in the exercise of its discretion to assess a taxpayer based on deemed income (or best of judgment assessment). In the instant case, the TAT rules that a deemed income assessment cannot be based on general expectation

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South Africa: Inland Revenue Updates Guidelines on Valuation of Assets for Capital Gains Tax

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South Africa Inland Revenue Updates Guidelines on Valuation of Assets for Capital Gains Tax The South African Inland Revenue Aug. 19 published Issue No. 3 of the Guide on Valuation of Assets for Capital Gains Tax (CGT) Purposes. The guideline explains and provides examples of how to determine the market value of assets: 1) on

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Its time to gear up on Transfer Pricing – please take a look at this Adv Dip in TP – http://www.iiribcfinance.com/event/Advanced-Diploma-in-Transfer-Pricing

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Its time to gear up on Transfer Pricing – please take a look at this Adv Dip in TP – http://www.iiribcfinance.com/event/Advanced-Diploma-in-Transfer-Pricing You graduate from the Thomas Jefferson School of Law, San Diego, CA after a year.

Its time to gear up on Transfer Pricing – please take a look at this Adv Dip in TP – http://www.iiribcfinance.com/event/Advanced-Diploma-in-Transfer-Pricing Read More »

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South Africa: Africa Tax In Brief (July 2015) Last Updated: 29 July 2015 Article by Celia Becker ENSafrica Most Read Contributor in South Africa, July 2015 ANGOLA: Special Contribution Regime for Foreign Technical Assistance and Management Services A Special Contribution Regime for Foreign Technical Assistance and Management Services was introduced through Presidential Legislative Decree number

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S.Africa: South Africa to Reintroduce Pre-2011 CFC Rules

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By Edwin Naidu July 31 — Changes proposed by South Africa’s National Treasury would subject controlled foreign companies operating in that country to the divisionary rules regarding their inbound and outbound sale of goods that were effective before the rules were amended in 2011. The move aims to combat profit shifting and protect the domestic

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Zimbabwe: Institute of Certified Tax Accountants Seminar by Dr Daniel N Erasmus

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Institute of Certified Tax Accountants Seminar on Transfer Pricing, section 98 of the Income Tax Act, the Constitution and the Administrative Justice Act (“AJA”) by Dr Daniel N Erasmus   Here are the documents from Dr Erasmus: 1. His PhD on taxpayer rights to read with section 63 of the Constitution and the AJA – 1A

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JOINT STATEMENT OF THE COMMISSIONERS GENERAL AND HEADS OF DELEGATION OF SOUTH AFRICA, BOTSWANA, LESOTHO, MOZAMBIQUE, NAMIBIA, SWAZILAND AND ZAMBIA TSHWANE – SOUTH AFRICA 16 JULY 2015

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JOINT STATEMENT OF THE COMMISSIONERS GENERAL AND HEADS OF DELEGATION OF SOUTH AFRICA, BOTSWANA, LESOTHO, MOZAMBIQUE, NAMIBIA, SWAZILAND AND ZAMBIA TSHWANE – SOUTH AFRICA 16 JULY 2015 Cognisant of the large and damaging erosion of the tax base through the illicit financial flows from Africa and the detrimental effects thereof on the developmental goals of

JOINT STATEMENT OF THE COMMISSIONERS GENERAL AND HEADS OF DELEGATION OF SOUTH AFRICA, BOTSWANA, LESOTHO, MOZAMBIQUE, NAMIBIA, SWAZILAND AND ZAMBIA TSHWANE – SOUTH AFRICA 16 JULY 2015 Read More »

S.Africa: And neighbouring countries discuss beefing up tax enforcement

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SA, neighbouring countries discuss beefing up tax enforcement Pretoria – The South African Revenue Services (SARS) has convened a forum of commissioners from bordering countries, including Swaziland, Lesotho, Zambia, Botswana, Namibia and South Africa to deliberate on core tax and customs issues. The forum debated issues linked to illicit financial flows, base erosion and profit

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