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Business Model Optimisation is a process whereby value is created through business transformation.

Below, please find issue 72 of ENSafrica's tax in brief, a snapshot of the latest tax developments in South Africa.

The likely introduction of the carbon tax on 1 January 2015 is bound to create a demand for these carbon credits as companies seek carbon credits to offset their carbon tax liabilities.

South Africa's legal landscape is undergoing significant transformation across multiple domains, from direct marketing compliance and government contract validity to artificial intelligence policy development...

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.

Higher education institutions are navigating an increasingly complex tax landscape as they diversify revenue streams, expand internationally, and transform their operational models. From VAT complications on mixed activities to intricate employee taxation and global mobility challenges, universities face mounting compliance pressures that demand strategic attention and proactive management.

Minister Pravin Gordhan’s Budget speech will likely focus on spending, says KPMG’s Cuma Limekaya

The aim of the corporate rules contained in Part III of the Income Tax Act, 58 of 1962 ("the Act") is to facilitate transactions between groups of companies or between companies and shareholders by ensuring that the transactions inherent in any restructuring occur on a tax neutral basis in South Africa.

Over the past few years the Courts have become increasingly intolerant of arrangements that are designed to look like legitimate commercial transactions but which are in fact complicated ruses by which the parties collude to secure a tax advantage.

It is now proposed that such dividends declared prior to vesting of the shares will be subject to income tax in the hands of the holder.

As indicated in the tax proposals of the 2012 Budget Speech, by mid-February 2012, the South African Revenue Service ("SARS") had captured 17 938 applications for voluntary disclosure relief in terms of the Voluntary Disclosure Programme and Taxation Laws Second Amendment Act No. 8 of 2010 ("the VDP Act") and concluded agreements to the value of R941 million in this regard.

In recent times South Africa’s mining industry has been subject to much uncertainty which contributed towards the fall in share prices, decrease in offshore investor confidence and which also gave rise to a weaker Rand.

A recent article authored by senior officials at National Treasury and the South African Revenue Service ("SARS") records that tax advisors who service large business have mounted an unqualified offensive against the legislative introduction of annual tax amendments.

Hopefully with time market practice and interaction with regulators will clarify the above points.

TAX benefits should not be the main purpose for the creation of an intellectual property holding company, as the South African Revenue Service (SARS) will simply strike such a structure off the table.

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

The provisions of section 20 of the Act provides that taxpayers can set off their balance of assessed losses carried forward from the preceding tax year against their income in determining taxable income.