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The South African Revenue Service ("SARS") is, in accordance with section 3(2)(j) of the Tax Administration Act, 28 of 2011 (the "TAA"), responsible for giving effect to the Country-by-Country Reporting Standard...

The court came to the conclusion that the taxpayer's reliance on the advice received was reasonable and therefore directed that the Commissioner should waive the section 89quat interest in full.

Automatic exchange of information between various revenue authorities worldwide is now a reality. As a result, the South African Revenue Service ("SARS") is able to obtain financial information on any

The 2017 Budget Review contains two important statements in this context.

Where foreign subsidiaries find themselves in financial distress, the interest rate on the shareholder loans from a South African shareholder may be reduced to zero percent as the foreign subsidiary is unable to pay any interest due to the fact that it may be insolvent.

In the 2015 Budget Speech presented to the National Assembly on 25 February 2015 the Minister of Finance announced that amendments will be proposed to change the rules for the digital economy...

Currently, a taxpayer is entitled to deduct interest calculated in terms of section 24J(2) of the Income Tax Act, 1962 ("Act") if the taxpayer...

In the listed sector, shareholders may be presented with various elections to be made as regards the nature of distributions ...

Under section 96(2) of the TAA, the Commissioner is obliged to supply the taxpayer with the grounds of the assessment so that the taxpayer can understand the basis on which the assessment has been issued.

The Draft Taxation Laws Amendment Bill of 2016 was released for public comment on Friday 8 July. It proposes certain amendments to the rules currently contained in the Income Tax Act No. 58 of 1962 dealing with employee-based incentive plans.

This brief provides a synopsis of a recent tax judgement on residency, information on proposed amendments to the Income Tax Act; the Customs Control and Customs Duty Bills; and the Permanent Voluntary Disclosure Programme.

In the current economic environment impacted by COVID-19, many corporate taxpayers have been negatively impacted and, in many instances, operating losses suffered have translated directly into...

On 14 December 2020, Rwanda's new general rules on transfer pricing ("New TP Rules") which are in line with the key aspects of the Organisation for Economic Cooperation...

Taxpayers who are satisfied with their auto assessments need not take any further action, under the new procedures introduced by SARS for the 2022 tax filing season.

The South African Revenue Service ("SARS") may impose penalties on taxpayers who make errors in their tax returns, but relief is available under certain circumstances.

The issue of share trading and whether the profits or the losses derived therefrom should be treated on capitalor revenue account for tax purposes, has been a contentious issue in South African tax law for quite some time.

The week building up to Minister Tito Mboweni's budget speech was filled with rumours about an increase in the VAT rate and a new proposed wealth tax on assets.