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SARS spotlight focused on Transfer Pricing
2021 - 2021-04-06

SARS spotlight focused on Transfer Pricing

With the Minister having recently announced the R3 billion spending allocation towards the enhancement of SARS enforcement with a particular focus on transfer pricing, it is highly probable that we will be seeing more queries and audits in this area.

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Donations Tax Deadline: 31 March
2021 - 2021-04-06

Donations Tax Deadline: 31 March

A registered South African trust can be used as a risk management tool. As such it iscommon for a trust to enter into a transaction whereby assets are acquired from a connected person to the trust.

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Rebuilding SARS
2021 - 2021-04-06

Rebuilding SARS

It was announced in the 2021/2022 Budget that an additional spending allocation of R3 billion will
be provided to SARS to:

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Proposed reduction in Corportate Income tax rate - The bigger picture
2021 - 2021-04-06

Proposed reduction in Corportate Income tax rate - The bigger picture

Minister Mboweni announced in the Budget Speech of 24 February 2021 that the corporate tax rate will be reduced from 28% to 27% for years of assessment starting on or after 1 April 2022. In some instances, this proposal was met with criticism on the basis that having regard to the current state of the economy, any reduction of tax rates should rather be focussed on the country as a whole and particularly the poor and needy – for example, a reduction of the VAT rate.

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2021 - 2021-04-06

Budget Overview

Our Finance minister, Tito Mboweni delivered the 2021 Budget Speech on Wednesday, 24 February 2021.

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2021 - 2021-04-06

SARB lifts the ban on “loop structures” for individuals and coporates

The Minister of Finance announced in his Budget Speech on 26 February 2020 that the South African Reserve Bank (SARB) would relax some of its current restrictions in order to simplify cross border trade and financial flows.

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2021 - 2021-04-06

Temporary letting and subsequent sale of dwellings by property developers

As from 10 January 2012, property developers who let residential property prior to sale were granted temporary relief from the VAT claw back that would normally arise by way of a change of use adjustment.

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2021 - 2021-04-06

A Recap on Provisional Tax

For all individuals and the majority of companies in South Africa the much dreaded second provisional tax return is due at the end of February which is fast approaching. Here are some basic principles to bear in mind when attending to your provisional tax return for this period.

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2021 - 2020-09-22

Termination of the tax residence of a company: shareholders beware

In terms of current legislation, when a company (“ExitCo”) ceases to be a tax resident of South Africa, the following tax implications arise:

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2021 - 2020-09-22

Proposed amendments to VAT legislation: Potential impact on cross-border leases of certain assets used in SA

In terms of the Value-Added Tax Act No. 89 of 1991 (“the VAT Act”) a person is required to register for value added-tax (“VAT”) if, broadly speaking:

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