Author: Heinrich Louw (CliffeDekkerHofmeyr) An interesting judgment was handed down in the North Gauteng High Court on 3 October 2013 in the matter of Commissioner for the South African Revenue Service v Miles Plant Hire (Pty) Ltd (case no 23533/2013). Miles Plant Hire (Pty) Ltd (taxpayer) was involved in a dispute with the South African Revenue Service (SARS) in terms of which an appeal was pending.
Author: Nyasha Musviba
Explanatory Summary of The Tax Administration Laws Amendment Bill, 2013
Author: SARS Legal and Policy Publication of explanatory summary of the Tax Administration Laws Amendment Bill, 2013 – Intention to be introduced in the National Assembly on 24 October 2013. To view the notice published by SARS please click here:
Statement On Auto Exchange Tax Info
Author: Minister of Finance Today, South Africa and the United Kingdom have agreed to work closer together to tackle offshore tax evasion, including through pressing for stronger international action. This builds on the strengthening resolve of the G20 to ensure everyone pays the tax that is due.
Commissioner For The South African Revenue Services v Miles Plant Hire (PTY) Ltd Case 23533/2013
The North Gauteng Division of The High Court heard the matter between the Commissioner For The South African Revenue Services (appellant) and Miles Plant Hire (PTY) (respondent) Ltd on 13 September 2013 and delivered its judgement on 3 October 2013. Background to the case These proceedings have their origin in an urgent application filed in April 2013 in which the appellant inter alia sought an order to set aside a resolution adopted by the respondent to file for voluntary business rescue and for the final winding-up of the respondent. On 10 May 2013, the application was postponed on the basis that it would be dealt with on a semi-urgent basis, with the respondent’s agreement to interim anti-dissipation relief.
Shuttleworth V The South African Reserve Bank
Author: Alastair Morphet (CliffeDekkerHofmeyr) Mr Shuttleworth famously sold his shares in Thawte, which earned him a substantial amount of money. He subsequently decided to emigrate from the Republic and to transfer all of his remaining assets out of the country. The South African Reserve Bank imposed a 10% levy on his South African assets as a condition for permission under the Exchange Control Regulations to transfer his assets out of the country. He subsequently approached the North Gauteng High Court to set aside the decision of the Reserve Bank to impose the 10% levy.
Fraudulent Tax Returns On The Rise
Author: Amanda Visser (Businessday) The South African Revenue Service (SARS) has seen an increase in fraud cases where so-called tax consultants promise substantial tax refunds to taxpayers in return for a share of the anticipated refund — sometimes up to half of the amount in question.
SARS Media Release: Warning To Taxpayers On Fraudulent Tax Returns
Author: SARS Legal and Policy SARS wants to appeal to all taxpayers to exercise caution if they are approached by “tax advisors” who guarantee them a tax refund on submission of their income tax returns. Anyone who guarantees a taxpayer a tax refund may be misleading them and should be avoided.
Job Incentive Bill To Include ‘Tough Penalties’
Author: Linda Ensor (BDlive) The proposed employment tax incentive would include tough penalties to prevent abuse by employers, Treasury officials said in Parliament on Tuesday. The incentive, which will ensure that government shares the initial cost of hiring with the employer to boost job creation among the youth, will come into effect from January 1 2014 but will apply to workers who are eligible from October 1.
‘Unfair’ SARS Penalties To Be Challenged
Author: Amanda Visser (BDlive) Taxpayers can resist the payment of huge understatement penalties levied on tax returns submitted prior to the commencement of the Tax Administration Act (TAA) in October last year, according to tax experts. The practice by the South African Revenue Service (SARS) to levy these penalties — a percentage-based penalty determined with reference to a taxpayer’s behaviour — under the new act on tax returns that were filed and even assessed prior to the effective date of the act is therefore set to be challenged in the tax courts, and even in the high courts.
New Tax Treaty SA – Mauritius: Important Changes
Author: Moore Stephens Mauritius has been a popular location for international investors.One of the main reasons is the favourable tax conditions prevailing in Mauritius, including: a vast array of treaties with various countries avoiding double taxation the absence of capital gains tax a low effective company tax rate no withholding taxes on interest, dividends, royalties