NEWS | FINANCIAL EMIGRATION 2021: WHERE TO NOW?
South Africans who have emigrated or plan to permanently leave South Africa have until 28 February 2021, to effect Financial Emigration in its current form, or be faced with a more stringent process.
NEWS | YOU ONLY HAVE ONE SHOT TO DISPUTE YOUR SARS ASSESSMENT
When engaging in disputes with the taxman, there are many rules you need to be aware of, but the decision in CSARS v The Executor of the Estate of Late Ndlovu (A395/2016) arguably tells the most important. This decision by a full bench of the Pretoria High Court reveals how high the stakes are when […]
NEWS | SOUTH AFRICAN GOVERNMENT ISSUED CERTIFICATES 101: WHAT YOU NEED TO KNOW
The protracted lockdown in South Africa resulted in the Department of Home Affairs (“DHA”) offering limited emergency services. South African citizens and permanent residents seeking Civic Services such as unabridged birth and marriage certificates were left frustrated as existing applications were indefinitely delayed.
BINDING RULINGS#339 TRANSFER OF LISTED SHARES TO A COLLECTIVE INVESTMENT SCHEME IN EXCHANGE FOR PARTICIPATORY INTERESTS
Issue The Applicant and the Fund approached SARS to determine the tax consequences of a transfer of listed shares from the applicant to a collective investment scheme in exchange for participatory interests in that collective investment scheme, in terms of sections 9C and 42 of the Income Tax Act, No. 58 of 1962 (the ITA) […]
BINDING GENERAL RULING 52 TIMEFRAME FOR THE EXPORT OF GOODS BY VENDORS AND QUALIFYING PURCHASERS AFFECTED BY THE GLOBAL COVID-19 PANDEMIC
Issue This binding general ruling extends the time periods to export movable goods, apply for a refund from the VAT Refund Administrator, and obtain the relevant documentary proof of export, as stipulated in the Export Regulations and IN 30 respectively.
BINDING PRIVATE RULING 40 SHARE BUY-BACK AT NOMINAL VALUE
Issue The Applicant and Co-applicant approached SARS to determine the income tax and donations tax consequences of a share buy-back at nominal value pursuant to a proposed cancellation agreement.
MEDTRONIC INTERNATIONAL VS SARS (33400-19) ZAGPPHC
Issue What should be contained in a record for review proceedings and whether SARS may consider a request for the remission of interest in terms of section 39(7)(a) of the Value Added Tax Act, No. 89 of 1991 (the VAT Act) once a taxpayer has agreed to pay such interest in terms of a VDP […]
ALFDAV CONSTRUCTION CC VS THE SOUTH AFRICAN REVENUE SERVICE
Issue Whether a judgment made by the High Court, ordering the resubmission of VAT 201 returns by the taxpayer, may be clarified in terms of rule 42 of the Uniform Rules of Court to take into account the penalties and interest raised by SARS during the period granted by the Court for such resubmission.
NEWS | ALL EYES ON SARS FOLLOWING MEDIUM TERM BUDGET POLICY STATEMENT
In a surprising admission by National Treasury in its Medium Term Budget Policy Statement, it has been acknowledged that recent tax increases have failed to generate the revenue numbers initially projected, and all evidence illustrates that South Africa’s higher than global average tax rates have in fact hindered economic growth.