Academy of taxlaw.
Register your interest

Tell us where you’re headed

We’ll confirm by email and a programme advisor will be in touch. We’ll also add you to the Academy newsletter (sent via Mailchimp) — every email includes a one-click unsubscribe.
Article · 7 August 2018 · Academy of Tax Law

Tax updates Aug 7 in the Africa Tax Journal, incl. the latest July 2018 S.Africa PwC tax case synopsis

Africa Nigeria SADC South Africa West Africa Zambia

https://www.pwc.co.za/en/assets/pdf/synopsis/synopsis-july-2018.pdf?utm_medium=email&utm_source=sharpspring&sslid=MzIxMDA2tjA0NDEzAAA&sseid=MzQzMLM0MjGyNAIA&jobid=d183246e-9a44-4062-9d4f-929180993b19

PwC provides a great summary each month of key tax cases in South Africa.

This edition deals with these important judgments:

  • The SARS discretion with trading stock – Tax Court, in Case No. 13626 (judgment delivered on 18 May 2018), the court was asked to consider whether the adoption of IFRS principles was a satisfactory reason and whether the methods applied resulted in a just and reasonable diminution in the value of the trading stock;
  • Tax compliance status – Gauteng Division of the High Court in Pretoria in the matter of Red Ant Security Relocation and Eviction Services (Pty) Ltd v Commissioner for the South African Revenue Services (Case No. 2999/18, judgment delivered 21 May 2018), in which the rights, duties and obligations were considered;
  • A decision based on procedural issues rather than the merits -Western Cape Tax Court in ITC 1904 (2018) 80 SATC 194.