*
*
*

PKF South Africa

Global expertise with local knowledge

News
right people right size right solutions

2017

News

Search

2017

01 Jun 2017

Capital Gains Tax Consequences on the Cancellation of Disposals

Generally for Capital Gains Tax (“CGT”) purposes when an asset is disposed of for more than the base cost, CGT is triggered in the year of the disposal. In the recent judgement of New Adventure Shelf V CSARS (310/2016) [2017] ZASCA 29 the Supreme Court of Appeal confirmed the tax the position where an asset is disposed

01 Jun 2017

BEWARE OF CAPITAL GAINS TAX WHEN YOU EMIGRATE

While many people immigrate to South Africa, we also see many of our clients emigrating from South Africa. And while formal migration-status is not necessarily linked to tax residency, the time of tax migration often coincides with formal emigration linked to passport or visa status. Many are surprised to learn (often after the fact) that emigration for tax residency purposes gives rise to tax consequences in South Africa, and specifically to capital gains tax (“CGT”) consequences in the form of so-called “exit charges”.

24 May 2017

Tone at the top Volume 4

Where reputational risk is a strong factor in the managing of a business, a strong culture of ethics and compliance will be the cornerstone of the foundation. What has been proved over the years is that “a feel good” culture should be replaced by an ethical and compliant culture which can be defined, measured and improved.

03 Apr 2017

Tone at the top Volume 3

Having discussed how the Managing Partner can create the right tone from the top we now look at how middle management assist in getting this tone from the top through to the rest of the firm.

07 Mar 2017

How do our Managing Partners create the right ‘Tone from the Top’

The Managing Partner, as well as the Management and Executive committees including all the partners, play a vital role in ensuring that the ‘tone from the top’ is spread throughout the firm.

23 Feb 2017

PKF Tax Guide 2017/2018

The PKF Tax Guide is now available. For your free online version please click here.

14 Feb 2017

Avoid Interest and Penalties! Submit your Provisional Tax Return by 28 February 2017!

A provisional taxpayer must, during every period submit an estimate of the total taxable income which will be derived in that year of assessment. Provisional tax payments must be made by natural persons on or before 28 February and 31 August each year. The South African Revenue Service (“SARS”) also allows for a third “voluntary top up” or “additional” provisional payment, which must be paid on or before 29 September each year.

14 Feb 2017

FOREIGN EXCHANGE VOLUNTARY DISCLOSURE UPDATE

A Special Voluntary Disclosure Programme has been introduced to allow South Africans to regularise any undisclosed foreign assets, the programme will run for a period of 11 months commencing on 1 October 2016 and ending on 31 August 2017. The legislation in this regard had been finalised by parliament on 16 December 2016 and was promulgated on 19 January 2017.

14 Feb 2017

Highlights of the Double Taxation Agreement between South Africa and United Arab Emirates

South Africa (“SA”) and the United Arab Emirates (“UAE”) had entered into a Double Taxation Agreement (“DTA”) on 23 November 2016. The provisions of the DTA are applicable from 1 January 2017. Generally, there are no taxes levied by the federal government in the UAE on the income or wealth of individuals and companies, except for oil and gas exploration companies, production companies and branches of foreign banks. In this regard, the tax rate in respect of oil and gas exploration companies varies between 55% and 85%.

08 Feb 2017

PKF Managers Conference 2017

The 2017 Managers Conference was held at Spier Estate in Cape Town from 3 – 5 February.

Get In Touch

For more information on how our services can help your business get in touch.

* *
*