General Archives - Page 20 of 49

SARS will now use artificial intelligence to make ‘it hard and costly’ to dodge tax

Article by: James de Villiers SarsThe South African Revenue ServiceThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... More (SARSThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... More) is the official tax authorityTax authorities are fundamental institutions within government frameworks, overseeing tax assessment, collection, and administration. Their operations ensure that tax laws are enforced and public funds are collected efficiently. This article delves into tax authorities' purpose, responsibilities, and structure, offering insights into their essential role in supporting government functions and economic stability. What is a Tax Authority? A tax authority is... More responsible for the administration and enforcement of tax lawsTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislationTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More. Established under the South African […]

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Here Are 10 Geo-Political Economic Trends To Watch

International / ATL-Editor

Paper by: George Mentz 1. Energy Independence Innovation – Technology has made finding and harvesting oil and gas much more accurate and cost-effective everywhere. Large or luxury auto sales will continue regardless of MPG or pollution ratings. Energy independence is now an expanded option in the US and the Americas and the oil problems offshore

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Timeless principles of taxpayer protection: how they adapt to digital disruption

Oceania / ATL-Editor

Paper by: Duncan Bentley This article analyses the impact of digitalisation on the tax administrationTax authorities are fundamental institutions within government frameworks, overseeing tax assessmentA tax assessment is a formal determination made by a tax authority to calculate the amount of tax an individual or entity owes. It is a comprehensive evaluation based on financial records, declared income, expenses, deductions, and any applicable tax laws or regulations. Tax assessments may arise from routine self-assessments by taxpayers, or they may be conducted by revenue authorities... More, collection, and administration. Their operations ensure that tax lawsTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More are enforced and public funds are collected efficiently. This article delves into tax authorities’ purpose, responsibilities, and structure, offering insights into

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OECD tax proposal gathers pace, but many unanswered questions

International, OECD / ATL-Editor

Published by Lexology Article by: Macfarlanes LLP – Rhiannon Kinghall Were Last week (9 December) the OECDThe Organisation for Economic Co-operation and DevelopmentThe Organisation for Economic Co-operation and Development (OECD) is an international organisation comprising 38 member countries, established to foster economic growth, trade, and development on a global scale. Founded in 1961, the OECD provides a forum for governments to collaborate, share policy experiences, and develop solutions to common economic challenges. The OECD's core mission is to promote policies that improve... More (OECDThe Organisation for Economic Co-operation and Development (OECD) is an international organisation comprising 38 member countries, established to foster economic growth, trade, and development on a global scale. Founded in 1961, the OECD provides a forum for governments to collaborate, share policy experiences, and develop solutions to common economic challenges. The OECD's core mission is to promote policies that improve... More) is an international organisation comprising 38 member countries, established to foster economic growth, trade, and development on a global scale. Founded in 1961, the OECDThe Organisation for Economic Co-operation and Development (OECD) is an international organisation comprising 38 member countries, established to foster economic growth, trade, and development on a global scale. Founded in 1961, the OECD provides a forum for governments to collaborate, share policy experiences, and develop solutions to common economic challenges. The OECD's core mission is to promote policies that improve... More provides a forum for governments to collaborate, share

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The OECD opens a public consultation for its proposals on digitalisation of the economy under Pillar Two (rules for tackling the erosion of tax bases and the transfer of profits)

International, OECD / ATL-Editor

Published by Lexology Article by: Osborne Clarke – Daniel Rioperez and Ana Malagon On November 8, 2019, the OECD published for public consultation a document with the proposal on the anti-abuse rule and the establishment of a global minimum taxation, known by the acronym GloBE (Global-Anti Base Erosion Rule), in the framework of the so-called Pillar Two. The OECDThe

The OECD opens a public consultation for its proposals on digitalisation of the economy under Pillar Two (rules for tackling the erosion of tax bases and the transfer of profits) Read More »

Tax litigation in USA

USA / ATL-Editor

Published by Lexology. Article by: Steptoe & Johnson LLP – Carina C. Federico, J. Walker Johnson and Robert J. Kovacev Competent courts Which courts have jurisdiction to hear tax disputesTax Disputes arise when there is a disagreement between taxpayers and tax authorities regarding the interpretation or application of tax lawsTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... More. These disputes may concern various issues such as the accuracy

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Tax treaties in Sub-Saharan Africa: A critical review

Africa / ATL-Editor

Paper by: Martin Hearson There is growing attention on the question of tax treaties signed by developing countries. The costs of tax treaties to developing countries have been highlighted in recent years by NGOs such as ActionAid and SOMO. During 2014, an influential IMF paper warned that developing countries “would be well-advised to sign treaties

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A Critical Analysis of Tax Avoidance in theSouth African Income Tax Act 58 of 1962, as Amended

Africa, SADC, South Africa / ATL-Editor

Paper by: Jean Chrysostome Kanamugire “Tax avoidanceTax avoidance refers to the practice of legally structuring financial activities to minimise tax liability, reducing the amount of tax owed without violating laws. Unlike tax evasionTax Evasion refers to illegal activities or practices undertaken by individuals or businesses to avoid paying taxes. It involves intentionally misrepresenting or concealing income, inflating deductions, or underreporting earnings to reduce tax liability unlawfully. Unlike tax avoidance, which uses legal methods to minimize tax obligations, tax evasion is a criminal offence that carries significant penalties, including fines, imprisonment, and asset... More, which is illegal and involves concealing income or misreporting, tax avoidanceTax avoidance refers to the practice of legally structuring financial activities to minimise tax liability, reducing the amount of tax owed without violating laws. Unlike tax evasion, which is illegal and involves concealing income or misreporting, tax avoidance operates within the framework of the law. Multinational enterprises (MNEs) and individuals often engage in tax planning strategies that reduce tax liabilities... More operates within the framework of the law. Multinational enterprisesWhat are Multinational Enterprises (MNEs)? Multinational Enterprises, commonly referred to as MNEs, are corporations that operate in multiple countries through various subsidiaries, branches, or affiliates. These entities maintain a central management structure while leveraging diverse resources, labour markets, and customer bases across borders. The fundamental aspect that distinguishes MNEs from other corporate forms is their cross-border activity, which can include... More (MNEs) and

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OECD: The Global Revenue Statistics Database

International, OECD / ATL-Editor

The Global Revenue Statistics Database provides the largest public source of harmonised tax revenueTax Revenue is the income collected by governments through various taxes imposed on individuals, corporations, and transactions. It is a primary source of funding for public expenditures, including infrastructure, healthcare, education, and social services. Tax revenueTax Revenue is the income collected by governments through various taxes imposed on individuals, corporations, and transactions. It is a primary source of funding for public expenditures, including infrastructure, healthcare, education, and social services. Tax revenue can come from different types of taxes, such as income tax, corporate tax, value-added tax (VAT), excise duties, and customs tariffs. The level and... More can come from different types of

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Tax Administration Act: Fulfilling human rights through efficient and effective tax administration

Africa, SADC, South Africa / ATL-Editor

Paper by: Dr Fareed Moosa Public finance is vital for enabling effective governance, maintaining law and order, promoting peace and prosperity, facilitating the reconstruction and redevelopment of national infrastructure, and providing access to social goods (such as, education and social security). Efficient and effective tax administrationTax authorities are fundamental institutions within government frameworks, overseeing tax

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