ARTICLE · 05 JUNE 2024

ENS Tax In Brief - Issue 122

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Below, please find issue 122 of ENS' tax in brief, a snapshot of the latest tax developments in South Africa.

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Below, please find issue 122 of ENS' tax in brief, a snapshot of the latest tax developments in South Africa.

case law

IT 45979 | 20 March 2024
- The taxpayer filed a statutory appeal under section 107 of the Tax Administration Act 28 of 2011 (TAA), read with Rule 10 of the Tax Court Rules.
- The taxpayer, engaged in farming, contested additional assessments by SARS for the 2018 and 2019 tax years related to insurance agreements with Company XYZ Insurance Company Limited.
- The dispute centred on premiums paid for "Multi-Peril Contingency Policy Contracts" in 2018 and 2019, which the taxpayer claimed as a deductible expense under section 11(a) of the Income Tax Act. 58 of 1962.

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