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.
Author: Nyasha Musviba
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”)
Government did not say ‘find more money’ — Davis
Author: Linda Ensor (BusinessDay) Chairman of the newly appointed tax review committee Judge Dennis Davis has rejected the suggestion that the committee’s role is to find out how the government can collect more money from taxpayers.
Media Statement – SARS Commissioner Oupa Magashula Resigns
On 24 March 2013 I said I would institute a thorough investigation into allegations against the Commissioner of the South African Revenue Service (SARS), Mr Oupa Magashula, published in the media on that day. Following the outcome of a fact-finding inquiry into these allegations, Mr Magashula has resigned with effect from 12 July 2013.
The drug lord who took Oupa Magashula down
Convicted drug dealer and apartheid policeman Panganathan “Timmy” Marimuthu brought down disgraced tax boss Oupa Magashula after a series of dodgy meetings erupted into a jobs-for-pals scandal. The South African Revenue Service commissioner resigned this week after an inquiry found he had lied about his relationship with Marimuthu, who was convicted in 1992 of dealing in Mandrax and sentenced to three years in jail. Although his appeal failed, he never served the sentence.