Tag: Cor Kraamwinkel
South African taxpayers receive relief in Budget 2023 amid economic pressures
The National Budget delivered by South Africa’s Minister of Finance, Enoch Godongwana, showed that government is making some significant financial commitments to restore Eskom to viability and maintain social grants. But with GDP growth projected at 1.4% on average from 2023 to 2025, and a potential tapering-off of the commodities boom over the medium term, how will government fund these commitments?
Relaxation of loop structures – but at what tax cost?
The envisaged future relaxation of the prohibition on 'loop structures' will be accompanied by amended tax laws, but current proposals are likely to result in more tax on certain structures. National Treasury has proposed a number of amendments to tax legislation as a result of the potential future relaxation of the SA Reserve Bank's current prohibition on so-called 'loop structures'.
2018 Budget Comments – International Tax
South Africa has specific anti-tax avoidance legislation aimed at South African owned foreign companies. This so-called controlled foreign company tax legislation in essence aim to tax the notional taxable income of a foreign company in the hands of its South African shareholders.
TAX IMPACT SA MULTINATIONALS
Proposed tax amendments to SA’s controlled foreign company (CFC) rules will adversely impact South African multinationals with foreign subsidiaries that have assessed tax losses,...
