S.Africa: Tax Case – No evidence justifying penalty
No evidence justifying penalty DLA Cliffe Dekker Hofmeyr South Africa January 16 2015 On November 18 2014 the Tax Court ruled on AB (Pty) Ltd v
Category: South Africa
South Africa: An update on tax avoidance principles in South Africa – January 2015
An update on tax avoidanceTax avoidance refers to the practice of legally structuring financial activities to minimise tax liabilityTax liability represents the total amount of tax owed by an individual or business to a tax authority, whether local, national, or international. This obligation arises through various forms of income, profits, or transactions subject to taxation laws and regulations. Understanding tax liability is essential for compliance and efficient financial management for corporations and individuals. It influences how businesses structure..., reducing the amount of tax owed
South Africa: Fiscal legislation interpretation
Interpretation of fiscal legislation DLA Cliffe Dekker Hofmeyr South Africa January 9 2015 Introduction In Commissioner SARSThe South African Revenue ServiceThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... (SARSThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently...) is the official tax
S.Africa: Professional tax advice vital in mitigation of penalties and interest
Professional tax advice vital in mitigation of penalties and interest DLA Cliffe Dekker Hofmeyr Andrew Lewis South Africa December 5 2014 Judgment was handed down
S.Africa: Landmark judgment in Supreme Court of Appeal upholds deferred delivery share scheme
Landmark judgment in Supreme Court of Appeal upholds deferred delivery share scheme Commissioner SARSThe South African Revenue ServiceThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently... (SARSThe South African Revenue Service (SARS) is the official tax authority responsible for the administration and enforcement of tax laws in South Africa. It plays a crucial role in managing the country’s fiscal policy by collecting revenue, administering customs, and ensuring compliance with tax legislation. Established under the South African Revenue Service Act, No. 34 of 1997, SARS functions independently...) is the official tax authorityTax authorities are fundamental institutions within government frameworks, overseeing tax assessment, collection, and administration. Their operations ensure that tax laws are enforced and public funds are collected efficiently. This article delves into tax authorities' purpose, responsibilities, and structure, offering insights into their essential role in supporting government functions and economic stability. What is a Tax Authority? A tax authority is... responsible for the administration and enforcement of tax lawsTax laws form the backbone of any nation’s revenue system, setting the rules that govern how individuals and corporations contribute financially to support government functions. These laws define the types of taxes, the applicable rates, and the regulations regarding payment and compliance. They also outline the rights and obligations of taxpayers, ensuring a balanced and fair approach to funding public... in
S.Africa: New money Bills – October 2014
Here are the copies of the following Bills introduced in Parliament:- 1. Taxation LawsTax laws form the backbone of any nation’s revenue system, setting the
S.Africa: Preservation Orders & Tax
Preservation orders DLA Cliffe Dekker Hofmeyr Heinrich Louw South Africa October 17 2014 Here is the actual judgment: SA Tax Cases Tradex Pty Ltd 9 September
S.Africa: Proposed Changes to Secondary TP Adjustment
Proposed Changes to Secondary Transfer PricingTransfer pricing is a fundamental concept in international taxationFOR MORE INSIGHT ON INTERNATIONAL TAXATION, PLEASE READ THIS ARTICLE: Introduction to International Taxation: Key Concepts & Guidelines International Taxation encompasses the framework of laws, principles, and treaties that govern the tax obligations of individuals and entities engaged in economic activities that span multiple jurisdictions. This field addresses how income, profits, and gains are taxed when operations or investments extend... that defines the pricing methods and rules applied to transactions between
S.Africa: Shuttleworth wins SCA case against the SARB to refund $22m paid in a 10{780f53c297e2c008074d23b865a0ce0b35a4f08852d8e1e49466a5a902c4e44e} levy imposed to expatriate funds out of South Africa
http://www.justice.gov.za/sca/judgments/sca_2014/sca2014-157.pdf For a summary of the case: http://www.justice.gov.za/sca/judgments/sca_2014/sca2014-157ms.pdf A short radio interview giving the basics of the case: https://www.youtube.com/watch?v=yDftRV8uWYY&feature=youtu.be Shuttleworth could have ‘shuttled’ his monies
S.Africa: Electronic assessments by SARS through eFiling? Is this proper notification?
In a DeRebus October 2014 article the author Alan Lewis concludes: “In my opinion, neither the provisions of the Tax AdministrationTax authorities are fundamental institutions