Tag: Value-Added Tax Act
VAT foreign subsidiary anomaly
National Treasury is set to address a critical anomaly in the Value-Added Tax Act, No. 89 of 1991 (VAT Act). This anomaly has significant implications for multinational companies with foreign subsidiaries.
Beware! One cannot review a decision which was not taken!
In the matter of Medtronic International v CSARS (33400-19) ZAGPPHC, Medtronic (the taxpayer) brought a review application against the commissioner of SARS (the commissioner). This was due to the taxpayer being a victim of fraud, perpetuated by a Medtronic employee, to the tune of approximately R460,000,000.00. This ultimately placed the taxpayer in non-compliance with SARS.
SARS due to make changes to the electronic record keeping requirements
Too often, taxpayers seem to forget that the most important aspect of dealing with SARS is to ensure that they can discharge their burden of proof. As a taxpayer, it is on you to provide SARS with the relevant material that, on a balance of probabilities, supports your position.
COVID-19 tax relief – VAT
Following announcement of the actions taken by government to combat the COVID-19 crisis, many South Africans may be aware of the proposed tax measures that are effective from 1 April 2020.
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.
