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Transfer pricing implementation and enforcement – a source for taxes?

Transfer pricing relates to the transfer of goods or services between members of a multinational group which are tax residents in different countries. Instead of increasing existing taxes or levying new taxes, a way to tackle the looming budget deficit may be to properly implement transfer pricing rules and to ensure appropriate enforcement by the South African Revenue Service (SARS) of such rules.

Budget 2018 | 3 Key tax areas to look out for...

High political drama in the opening weeks of Parliament aside, most South African business and personal taxpayers are expecting tax hikes across the board from the Finance Minister’s Budget Speech on 21 February. Government already faces a yawning budget deficit, aggravated by the need to find billions of rand to fund a new and unbudgeted-for commitment to free tertiary education.

Limited Treasury options for recovery

Ahead of the 2018 Budget Speech, Treasury’s options to raise revenue are becoming increasingly limited. Treasury will need to think outside the box this year if it is to make any meaningful difference to its current revenue shortfall, estimated to currently stand at around R50.8 billion.

The taxing question of Bitcoin

The big question on everyone’s lips however, is twofold: How will cryptocurrency be taxed by the South African Revenue Service (SARS) and what will the exchange control standpoint of the South African Reserve Bank (SARB) be?

Property developers face VAT cash flow pressure

The curtains have come down on section 18B of the Value-Added Tax Act, No. 89 of 1991 (VAT Act) and the resultant impact may catch a few residential property developers off-guard.

Carbon Tax Bill released for comment

The National Treasury published the Second Draft Carbon Tax Bill for introduction in Parliament on 26 December 2017, as well as public comment and convening of public hearings by Parliament, which is expected to be early in 2018. Following that process, a revised Bill will be formally tabled in Parliament, which is expected to be by mid-2018.

The not so sweet Sugar Tax

The proposal to tax the sugar content of beverages first came to light in the 2016 Budget. On 5 December 2017, after 18 months of debate, Parliament adopted the tax on sugary beverages (Sugar Tax), which is expected to commence on 1 April 2018. 

Taxing Cryptocurrencies?

There are many different cryptocurrencies, the most well-known being Bitcoin. Bitcoin is a convertible virtual currency, in other words, it has an equivalent value...

PODCAST: Paradise Papers – not a clear-cut debate

Ernest Mazansky, Tax Director, Werksmans Attorneys and Dr Ivor Blumenthal, discuss the controversy of the recent leak of hacked client records called the Paradise...

Paradise Papers – not a clear-cut debate

Ernest Mazansky | Tax Director | Werksmans Attorneys | emazansky@werksmans.com | www.werksmans.com | This seems to be much of a replay of the Panama Papers.  But I...
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