TAX CONSULTING SA CONTRIBUTIONS
EXPAT TAX & IMMIGRATION
THE NEW EXPAT TAX VS SARS AUDIT STRATEGIES
The tax law amendment on section 10(1)(o)(ii) of the Income Tax Act No. 58 of 1962 (“the Act”) has come into effect 01 March 2020, after years of an arm wrestle on the amendment, from it’s complete repeal to an unexpected increase in the exemption limit in this year’s budget.
THE UNCERTAIN FUTURE OF FINANCIAL EMIGRATION
A quick recap for newcomers to taxation of South Africans abroad is that after a near two decade policy of giving an employment tax exemption to South Africans performing employment services abroad, there was a material policy shift by National Treasury and SARS, first to completely remove the exemption and thereafter cap the exemption to the first R1 million (now R1,25m) of earnings.
WORK VISAS ACROSS AFRICA
There are plenty of horror stories, but the day-to-day experience is something completely different. Where a correct permit application process is followed, using the correct channels and being proactive in fulfilling the requirements, a positive outcome is the norm.
EXPAT TAX OR OFFSHORE WORKERS AND SEAFARERS
Having just returned from visiting South Africans in remote locations in the Democratic Republic of Congo, Zambia, Oman, Qatar, Saudi Arabia, UAE etc; I have gained a deep appreciation and admiration for South African expatriate living.
CASE LAW
CASE LAW WRAP UP: COURT RULES APPLY TO BOTH SARS AND TAXPAYER
The issue in this matter was whether the step followed by the taxpayer in launching a default judgment application constituted an irregular step in terms of rule 30 of the Uniform Rules of Court (“the Rules”).
CASE LAW WRAP-UP: ALFDAV CONSTRUCTION CC VS THE SOUTH AFRICAN REVENUE SERVICE
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.
CASE LAW WRAP-UP: REMISSION OF INTEREST
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 agreement under section 230 of the Tax Administration Act, No. 28 of 2011 (the TAA).
CASE LAW WRAP UP: CANYON RESOURCES
The issue in this matter relates to whether the taxpayer was entitled to claim a diesel refund in respect of diesel purchases in conducting its mining operations, in terms of section 75(1)(d) of the Customs and Excise Act, No. 91 of 1964 (the Customs Act) and Schedule 6 thereto.
BINDING RULINGS
BINDING RULINGS 59
Issue
This ruling provides direction relating to the way casinos must account for VAT in respect of table games of chance.
BINDING RULINGS 339
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) and section 8(1)(a)(i) of the Securities Transfer Tax Act, No. 25 of 2007 (the STT Act).
BINDING RULINGS 40
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.
BINDING RULINGS 52
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.
LEXISNEXIS EXPATRIATE TAX TEXTBOOK
“A MOST WELCOME ADDITION TO OUR BODY OF TAX LITERATURE AND WILL DOUBTLESS BE ESSENTIAL READING FOR ANYONE ADVISING HIS OR HER CLIENT WITH REGARD TO THE TAX CONSEQUENCES OF MIGRATION.”
JUDGE DENNIS M DAVIS
Ph.D. & Hon. Professor of Law
Chairman Davis Tax Committee
Judge President, Competition Appeal Court