448 results found

The Supreme Court of Appeal delivered judgment in the case of Commissioner for the South African Revenue Service v Mobile Telephone Networks Holdings Ltd.

A South African High Court has ruled on the lawfulness of account freezing by banks based on fraud suspicions and affirmed SARS's authority to issue third-party notices under section 179 of the Tax Administration Act. The case arose after a close corporation fraudulently claimed a VAT refund of R3.28 million, transferred R900,000 to an individual's account, prompting the bank to freeze the account and SARS to pursue recovery through a third-party notice.

The Tax Court has ruled on whether a taxpayer may amend its appeal statement to introduce new factual grounds supporting a disputed VAT input tax deduction, years after the original objection was filed. The decision clarifies the boundaries of Rule 32(3) of the Tax Court Rules and examines when late amendments will be permitted despite weak explanations for delay.

In the case Attorney-General of Canada v RJ Reynolds Tobacco Holdings Inc and Others heard in the US Supreme Court of Appeals for Second Circuit, 12 October 2001, 268 F 3d 103, the ‘revenue-rule’ principle was confirmed.

We set out below a brief overview of the current notices issued for purposes of sections 35(2) and 36(4) of the TAA, as well as the proposed amendment thereto.

The levies/taxes at issue were imposed on indigenous communities for different reasons, including for reporting a death in a family, relocation to another village...

National Treasury has proposed the introduction of new rules for the tax treatment of conversions of debt into equity within the same group of companies.

As contentious as transfer pricing can be in many respects, there is an established set of principles generally agreed upon under the Transfer Pricing Guidelines for Multinational Enterprises...

The levies/taxes at issue were imposed on indigenous communities for different reasons, including for reporting a death in a family, relocation to another village, and the allocation of a residential stand.

The tax treatment of unrealised exchange gains or losses poses certain challenging questions when a foreign denominated debt becomes irrecoverable.

Struggling to pay a significant tax debt? Learn how a compromise works, what SARS requires and why timing matters if you are disputing an assessment.

In the world of corporate transactions and commercial agreements, taxation often takes centre stage.

It is possible to overlook property transfer tax (PTT) especially when the transaction is taking place at holding company level. This is for the simple reason that historically PTT in Zambia...

The South African Revenue Service introduced a new streamlined process primarily geared towards the single registration of a taxpayer across applicable tax types.

The concept of a "collateral arrangement" was inserted into South African tax legislation and came into force on 1 January 2016. The provisions contained in the Income Tax Act, 1962 ("Act")...

The Tax Administration Act 28 of 2011 ("the TAA") which took effect on 1 October 2012 contained provisions regulating the issue of tax clearance certificates by the South African Revenue Service (‘SARS’).

Africa Regulatory ENSight - October 2019