Author: SARS Legal and Policy On the 7th of August 2013 SARS released updated overviews of various international treaties and agreements. To view the update on “Double taxation agreements & protocols” click here: To view the update on “Customs MAA’s” click here: To view the update on “Exchange of Information Programs” click here: To view the update on “One-Stop-Border-Post Agreements” click here:
Author: Nyasha Musviba
Carbon tax could hit economy – Sacci
‘Measures should be revenue neutral’ The proposed introduction of carbon tax could have a severe impact on the economy and job creation in South Africa, Sacci said on Monday. “[We are] supportive of measures to reduce carbon emissions in principle, so long as those measures remain tax neutral,” SA Chamber of Commerce and Industry (Sacci) CEO Neren Rau said in a statement.
Group tax: A simple solution?
Ingé Lamprecht New bill introduces complications. JOHANNESBURG – The benefits of a group taxation system should be investigated. Zweli Mabhoza, head of taxation services at SizweNtsalubaGobodo, says one of the reasons why group taxation – where legal entities within a group of companies are treated as one taxpayer – has been opposed in the past, is because South Africa does not have sufficient skills to support the introduction of such a complicated tax system.
Anti-tax Avoidance Exchange of Information Agreement With Gibraltar
Author: Professor Peter Surtees & Andrew Wellsted On 11 July 2013 South Africa and Gibraltar signed an exchange of information agreement relating to tax matters. This is part of a growing practice, in which South Africa is an active participant. It reflects a global policy between fiscal authorities to address perceived tax avoidance by multi-national corporations.
Avoid Penalties By Being Prepared For The SARS Interim PAYE Reconciliation Period
The bi-annual company tax return season opens on 1 September 2013 and it makes sense for companies to prepare their mandatory information in August to avoid SARS e@syFile rejections and late submission penalties.
Shuttleworth wins some, loses some in court
Billionaire entrepreneur Mark Shuttleworth’s bid to have South Africa’s entire exchange control system declared unconstitutional has failed. The North Gauteng High Court on Thursday dismissed Shuttleworth’s application to strike down the whole of section 9 of the Currency and Exchange Act and all of the Exchange Control Regulations as unconstitutional.
Judge Dennis Davis to chair Tax Review Committee
By Ingé Lamprecht ‘Panel shows good balance of tax and business knowledge.’ JOHANNESBURG – Tax experts believe the Tax Review Committee that was appointed by the minister on Wednesday exhibit a good balance of tax and business knowledge.
Minister Gordhan Announces Further Details Of The Tax Review Committee And The Terms Of Reference
The Minister of Finance, Pravin Gordhan, has today announced members of the Tax Review Committee as well as the committee’s terms of reference. Today’s announcement gives effect to the Minister’s announcement in
Terms Of Reference For The South African Tax Review Committee
Author: Ministry of Finance The Minister of Finance announced in the 2013 Budget that- “A tax review will be initiated this year to assess our tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability…”
SARS to Revamp the Tax Clearance Certificate Application Process
Author: Gugulethu Lushaba (Ernst & Young) The South African Revenue Services (“SARS”) has that as from 4 May 2013, it will be doing away with the existing Tax Clearance Certificate (“TCC”) application process and introducing a new system, to be referred to as the Tax Compliance Status (“TCS”)