The Supreme Court of Appeal (SCA) delivered a judgment on 6 September 2019 that handed SARS, what could be considered, one of their most influential wins in recent times. The SARS Commissioner did not pull any punches and took BMW South Africa to task on tax services performed for their expatriates, by their top tier advisors KPMG and PwC.
It’s a sobering thought, but South Africans have a serious climate change problem. As the world’s 14th largest emitter of carbon dioxide, we have a massive role to play in responding to climate change, and a duty to the planet to shift to a lower-carbon economy. As a signatory to the 2015 Paris Accord, United Nations member countries agreed to hasten their transition to a low-carbon future.
The saying goes that we should pay Caesar what he is due and not what he demands. To achieve this in tax planning, estate planners use donations as one of the ways in which to effectively and legally help individuals reduce the taxable values of their estates. Donations of up to R100,000 per year can be used to reduce estate duty.
Can there be a settlement with SARS if an objection was raised out of time? What are the advantages of reaching a settlement? What are the costs of not resolving a dispute?
SARS Commissioner, Edward Kieswetter, has used the South African Institute of Tax Professionals’ Tax Indaba as a platform to fire a shot across the bow, letting taxpayers know that non-compliance will be met with the full force of the National Prosecuting Authority (NPA).