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The Davis Tax Committee's first interim report was released in July 2015 and made various significant recommendations to the Minister of Finance regarding the taxation of trusts in South Africa.

Much has been written about the Voluntary Disclosure Programme (VDP) which aims to get taxpayers to regularise their tax affairs in a manner that will encourage them to come forward with the knowledge that, although the tax amounts remain due, they will (in most cases) be absolved from paying any penalties and interest, with no criminal action being taken against them.

The new Companies Act introduces changes to existing company law principles. However, what is not widely understood is the effect these changes will have on existing income tax principles.

The Taxation Laws Amendment Act, 2012, has amended the tax consequences of debt reduction transactions entered on or after 1 January 2013.

It is common knowledge that investing in a South African prospecting or mining company is a long term, capital intensive and risky investment. It is common knowledge that investing in a South African prospecting or mining company is a long term, capital intensive and risky investment. Potential investors seek not only security over the assets but also an attractive return on investment.

Promises of job creation, fighting poverty, unemployment and government improving its service delivery mechanisms took centre stage in the Finance Minister’s Budget speech.

The South African Revenue Service ("SARS") assessed the taxpayer for employees' tax for the period 1 March 2003 to 29 February 2008 in terms of the provisions of the Fourth Schedule to the Income Tax Act No. 58 of 1962 ("Act").

On 28 March 2011 SARS issued a draft interpretation note (DIN) regarding the application of section 9C of the Act, the so called "safe haven" provision on shares.

On 20 December 2021, the Anti-Global Base Erosion ("GloBE") Rules were released by the OECD.

The definition of headquarter company was introduced as section 9I of the Income Tax Act No. 58 of 1962 with effect from the commencement of years of assessment commencing on or after 1 January 2011.

With effect from 1 April 2015, the business of a hedge fund has been declared to be a collective investment scheme ("CIS") in terms of section 63 of the Collective Investment Schemes Control Act 45 of 2000 ("CISCA").

The Taxation Laws Amendment Bill, Bill 19 of 2011 introduced to Parliament on 25 October 2011, contains the proposals of the South African Revenue Service ("SARS") and the National Treasury relating to debt-funded reorganisation transactions as contained in their joint press release of 3 August 2011.

Over the last several years, the government has taken significant steps to improve the competitiveness of the tax system for South African businesses.

Angola's tax reform included the adoption of three new laws and a reduction in the corporate income tax rate from 35 to 30 percent.

With the introduction of the new dividends tax on 1 April 2012, the distinction between cash dividends and dividends in specie requires consideration.

East African governments have increased their annual budgets for 2015/16 with more spending directed towards security and key sectors expected to drive growth.

In the 2013 Budget Speech, the Minister of Finance announced that restricting the deduction of excessive interest expenditure claimed by taxpayers in debt financing schemes has been on the tax policy agenda for a number of years and accordingly, legislative steps are now being taken to limit the interest deductions claimed by taxpayers in such schemes.