S.AFRICA: Recent tax case – Fringe benefits planning ‘faux pas’ on a company car & other benefits – or not? In a Gauteng Tax Court judgment, the judge found the only taxpayer witness (who designed the salary sacrifice scheme) not to be credible. In essence a notional account in the taxpayer company was created […]
Article by Stephen Levetan and Taryn Solomon ENSafrica The new rules promulgated under section 103 of 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
S.AFRICA: Documentation in tax disputes highlighted in the New dispute resolution rules Read More »
Article by Mathabo Magolego ENSafrica Tax authorities across the globe are working aggressively to collect taxes which they believe are collectable in their respective jurisdictions. States are entering into bilateral and multilateral agreements aimed at assisting each other in the collection of information and taxes. South Africa has actively taken part and in some respects been a regional leader in issues relating
S.AFRICA: Collection & exchange of tax related information by tax authorities Read More »
Here is the full judgment: SA Tax Court search seizure review less intrusive Huang and Others Including Mpisi Trading 74 Pty Ltd 13 August 2014 I’m sure there is a chance it will go to the SCA with these legal expenses incurred. Take aways – from this judgment, 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
Within tax reform currently underway in Angola, a new transfer pricingTransfer pricing is a fundamental concept in international taxationFOR MORE INSIGHT ON INTERNATIONAL TAXATION, PLEASE READ THIS ARTICLE: Introduction to International Taxation: Key Concepts & Guidelines International Taxation encompasses the framework of laws, principles, and treaties that govern the tax obligations of individuals and entities engaged in economic activities that span multiple jurisdictions. This field addresses how income, profits, and gains are taxed when operations or investments extend... More that defines the pricing methods and rules applied to transactions between related entities within a multinational enterprise (MNEWhat 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). In the context of tax regulations, it governs how prices for goods, services, or intangibles (such as intellectual
ANGOLA: New Transfer Pricing Rules in Angola: What Do They Mean? Read More »
Since the 2012 Union Budget specified that shares of a foreign company would be deemed to be situated in India if it derives its value “substantially” from assets located in India, there has been uncertainty over what this really means. A recent case clarifies the matter. Delhi High Court clarifies taxability of overseas share sale
INDIA: Taxability of overseas share sale – India influences African Tax Administrations Read More »
COMMENT Tax arbitration via new double tax treaties is on the increase. Hence, knowledge of international arbitration is important. Take a look at the following extract from the IBFD Book – Arbitration under Tax Treaties: http://www.ibfd.org/sites/ibfd.org/files/content/pdf/ArbitrationunderTaxTreaties_sample.pdf This will complement the provisions of the mutual agreement procedure, which correspond exactly to the wording of Article 25(1) to (4) 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
AFRICA: Sub-Saharan Africa and international arbitration – how does that work? Read More »
Please visit this course website for more information: http://www.iitf.net/academics/career-programs/transfer_pricing_africa/
Advanced Diploma in Transfer Pricing (Africa) Read More »
Please visit the Seminar website for further information: http://knowledgewithinreach.webs.com/daniel
New Tax Court Rules : Update on the new Objection, Appeal & Tax Court rules Read More »
