South Africa: SARS Incorrectly Treating Objections As Invalid Last Updated: 13 July 2015 Article by Mmangaliso Nzimande ENSafrica In terms of section 104 of the Tax Administration Act No. 28 of 2011 (“the TAA”), a taxpayer who is aggrieved by an assessment made in respect of that taxpayer may object to the assessment. Furthermore, in […]
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In McNally v. Canada (National Revenue) (2015 FC 767), the taxpayer brought an application to the Federal Court for an order requiring the Minister to assess his tax return. The Federal Court allowed the taxpayer’s application and ordered the Minister to examine the taxpayer’s tax return and issue a Notice of Assessment within 30 days. Background The
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Davis Tax Committee seeks public input for First Interim Report on Estate Duty 13 July 2015 Author: The Davis Tax Committee The DTC’s media statement on 13 July 2015 is calling for input for its first interim report on estate duty. The report was drafted after taking into account various submissions and wide consultation. The
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FATCA: Incidences of non-compliance that are subject to a fixed amount penalty SARS has released Notice 597 in Government Gazette 38983, which lays out incidences of non-compliance under section 210(2) that are subject to a fixed amount penalty in accordance with sections 210(1) and 211. Please click here to access the notice (10 July 2015).
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Mauritius: Automatic Exchange Of Information In Tax Matters: Mauritius Is One Of The First African Countries To Sign Up Last Updated: 8 July 2015 Article by Johanne Hague Juristconsult Chambers On the chilly autumnal afternoon of the 29th October 2014, in Berlin, representatives from 51 jurisdictions got together to sign the symbolic multilateral competent authority
Double Taxation Agreements with Tanzania: Practical Issues and Insights Jul 10, 2015 ONE of the most immediate and obvious consequences of globalization is the impact of domestic tax policies in other countries on the economy of Tanzania. This has necessitated the continuous evaluation of the tax regime in Tanzania and brought about crucial fiscal and
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In Namibia, Transfer Pricing Guidance Unclear Even as Auditors Undergo Training What’s New: Namibia is training staff for a transfer pricing unit it is creating within the Large Taxpayers’ Office of its Inland Revenue Department. Context: Audit enforcement currently is spotty and guidance is unclear as Namibia has not stated its position on the use
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Impact of FATCA on Mauritius Entities Stephen V. Scali Conyers Dill & Pearman Stephen V. Scali is Head of Mauritius Office at Conyers Dill & Pearman I. Background FATCA is a U.S. federal law that aims to reduce tax evasion by U.S. persons. FATCA has significant extraterritorial implications and, most notably, requires foreign financial institutions
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Taxation of Interest in South Africa—The Complex Web The number of provisions contained in the Income Tax Act 1962 (“the Act”) which deal with tax treatment of interest income and interest expenditure have gradually increased over time. There are numerous aspects to be borne in mind by resident and foreign companies when considering the income
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Botswana Becomes Eighth WTO Member To Approve Trade Facilitation Agreement (“TFA”) Botswana has ratified the World Trade Organization’s Trade Facilitation Agreement, making it the first nation on the African continent to do so. The TFA instructs WTO members to improve their customs procedures and expedite the movement, release and clearance of goods, among other commitments.
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