Tag: taxpayer
The test for a simulated transaction
A taxpayer may organise his financial affairs in such a way as to pay the least tax permissible. Our courts have confirmed on many occasions that there is nothing wrong with arrangements that are tax effective, but there is something wrong with dressing up or disguising a transaction to make it appear to be something that it is not.
Tax dispute delay frustrations
A trend of increased delays and frustration with the South African Revenue Service’s (SARS’) dispute resolution process, are becoming apparent among taxpayers and tax practitioners alike.
Tax Freedom Day 2018
Every earner is taxed. Through one kind of tax or another, government takes a bit out of everyone’s earnings. This means everyone is forced to spend some months working for government. Tax Freedom Day is the day on which average South African income-earners at last start working for themselves, the day on which they have finally paid their tax bill in full.
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...
Investor opportunities using S12J VCCs?
In June 2009, The Income Tax Act was amended to make provision for investors to be incentivised to invest in Venture Capital Companies (VCCs).
More flexibility for domestic treasury management companies?
The 2017 draft Taxation Laws Amendment Bill and draft Tax Administration Laws Amendment Bill were released for comment on 19 July 2017.
‘Surprise – you have to pay my tax!’
In certain circumstances, SARS may hold a person personally liable for the tax debt of another taxpayer. Broadly, the at-risk third parties fall into...
Appropriate tax mix?
After much speculation over the past few weeks as to how the Minister of Finance would ‘plug the deficit’ in his Budget Speech on 22 February 2017, he has chosen to rely on personal income tax (including trusts) by increasing the top-end rate from 41% to 45%, a dividend withholding tax increase from 15% to 20% (with immediate effect) and increased Fuel and Road Accident Fund levies.
