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This article forms part of a series of articles exploring the corporate reorganisation rules under the South African Income Tax Act 58 of 1962 (the "ITA"). Each entry in this series will discuss...

The 2017 South African budget review was published on 22 February 2017, and made several comments that will have an impact on cross-border IP transactions.

The Presidential Advisory Panel on Land Reform and Agriculture recommends compulsory disclosures about land ownership. A declaration process similar to FICA would be used.

Notable Tax Law updates covering South African case law, legislation, SARS and global tax developments.

South African corporate taxpayers currently enjoy full utilization of assessed losses. In determining taxable income, the corporate taxpayers can set off their full extent...

In the recent judgment of ABSA Bank Limited and another v CSARS, the South African High Court considered whether a taxpayer is permitted to review a decision by the South African Revenue Service in the High Court.

There has been uncertainty around the tax treatment of fees paid to non-executive directors. While it is clear that the amounts will be subject to income tax, the question was when and how this tax should be collected.

Understatement penalties (USP) are imposed in respect of understatements by a taxpayer.

The first draft of the Taxation Laws Amendment Bill, 2013 was published by National Treasury on 4 July 2013.

South African residents are taxed on their worldwide income, and a capital gain arising from the sale of shares in a foreign company will be subject to South African tax unless an exemption applies or a double tax agreement provides otherwise

A far-reaching judgment was recently given by the Cape Tax Court dealing with the fiscal consequences of a taxpayer acquiring a so-called living annuity. In particular, the taxpayer invested an amount of approximately R6million into a life annuity which gave him an initial guaranteed income of approximately R42 000 per month. These amounts could be revised annually at the insistence of the taxpayer, subject to the taxpayer being limited to directing the insurer to pay amounts equal to not less

In order for the ownership of assets to pass from a seller to a buyer it is necessary that the parties agree three essential elements: price, terms and structure. In order for the ownership of assets to pass from a seller to a buyer it is necessary that the parties agree three essential elements: price, terms and structure.

Dividends declared by South African resident companies or non-resident companies, the shares of which are listed on a South African exchange, are subject to dividends tax of 20%.

In times of fiscal shortfall, increased enforcement is of the utmost importance to the South African Revenue Service (‘SARS’) to minimise leakage. Last year, SARS announced that one of its focus areas was limited scope employees’ tax audits on Large Business Centre clients (which represent the majority of large employers).

The reportable arrangement provisions were established by the South African Revenue Service ("SARS") with the objective of obtaining information on certain types of transactions.

The application of the apportionment rules to South African retirement fund benefits due to South African residents who contributed to these funds while they worked abroad, is currently not clear.

Groups of companies often wish to restructure or rationalise their operations. This generally involves a transfer of companies and/or assets between various entities.