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Mon, Sep 20, 2021
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Treasury’s Special Budget is up against significant challenges

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On Wednesday, 24 June, Minister Mboweni will table a Special Adjustment Budget. This is an extraordinary event, precipitated by the effect of the COVID-19 outbreak that has caused so many deaths and ravaged great parts of the economy.

Tax relief for lockdown-trapped expats?

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National Treasury and SARS published their responses on the Draft Taxation Laws Amendment Bill (TLAB), which included potential relief for South African expatriates who were unable to leave South Africa owing to the COVID-19 lockdown.

Navigating a transfer pricing to a mutually unacceptable outcome

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Transfer pricing audits can be onerous, but taxpayers can achieve a more successful outcome by providing all information requested, anticipating areas of concern, and engaging openly with the South African Revenue Services (SARS).

Working for an international organisation in SA? Get your tax strategy...

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South African residents who work for international companies inside South Africa need to be sure they have a clear understanding of their tax situation or risk losing out. A growing number of South Africans are electing to work abroad, but there is also a substantial group that is working here for foreign companies.

Hard choices key to achieving five-year stabilisation plan

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The Minister of Finance, Tito Mboweni, delivered his much anticipated Medium-term Budget Policy Statement (MTBPS) on Wednesday, 28 October 2020. Hard choices and reform implementation are key to achieving five-year stabilisation plan.

COVID-19 relief may complicate provisional tax for some

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The first period for provisional tax ends on 31st August. Provisional taxpayers must therefore have submitted their initial IRP6 return and settled any payments due by that date. In addition, COVID-19 relief allowances make the calculation of estimated tax all the more complicated and I advise those who wish to take advantage of this relief to act promptly to beat the deadline.

Tax measures to combat the COVID-19 pandemic

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Further to the fiscal package as outlined by President Cyril Ramaphosa in his speech on the Escalation of Measures to Combat COVID-19, the Minister of Finance has announced on 29 March 2020 certain exceptional tax measures to be implemented.

The post-COVID-19 world needs new approaches to tobacco taxes

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As South Africa prepares to hear Finance Minister Tito Mboweni’s medium-term budget speech this week, it is becoming increasingly clear that the country needs a new post-COVID-19 approach to the tobacco industry and the growing illicit tobacco sector.

JUDGEMENT | Does abusing tax processes work?

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The full bench of the Western Cape High court recently delivered judgment (Cloete J dissenting) in a favour of a taxpayer who, according to the Tax Court, was simply abusing process. When studying the judgment of the Tax Court, it is difficult to see how the taxpayer’s approach was anything more than an abuse of process which begs the question: Why was the taxpayer successful on appeal to the full bench of the High Court?

SARS should give crypto investors more carrot and less stick

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It has been more than three years since SARS’s media statement on cryptocurrencies. In this statement, SARS said that it would apply 'normal income tax rules' to cryptocurrencies when assessing whether a gain is revenue or capital in nature, and that crypto assets are not seen as currency for income tax purposes.

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