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This article is based on the Court case (330/2019)  ZASCA 34 (03 April 2020). The taxpayer was engaged in the importation, manufacturing and distribution of alcoholic beverages. The taxpayer entered into an agreement with foreign brand owners for the advertising and promotion of their alcoholic products in South Africa.
An interview with Jean-Louis Nel, Tax Attorney, Tax Consulting SA, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing how the Pretoria High Court granted a small business owner an urgent basis for relief against SARS who depleted his bank account without following due process.
Earlier this month, the Pretoria High Court granted a small business owner an urgent basis for relief against the South African Revenue Service (SARS) who depleted his bank account without following due process. The court ordered SARS to set aside the third appointment of Absa who collected R1.3 million on behalf of SARS from the taxpayer’s bank account in terms of Section 179 of the Tax Administration Act (TAA).
An interview with Kevin Black, Director, VAT Claims International, and Dr Ivor Blumenthal, CEO, ArkKonsult, discussing how COVID-19 and the lockdown has severely impacted business cash flows. Surviving the shock is challenging the resilience of enterprises and executives.
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.
The impact of COVID-19 and the lockdown has severely squeezed business cash flows. Surviving the shock is challenging the resilience of enterprises and executives alike. How management adapts will test their agility and resourcefulness. If not enough is done, the very survival of the business will be at stake.
National Treasury has published another draft bill to formalise the tax relief measures available in response to the devastating covid-19 pandemic. It is hoped this will clarify uncertainty and offer some relief during these tough times.
In an address presented by President Cyril Ramaphosa on 21 April 2020, he noted that Government has recognised the significant negative repercussions that the national lockdown is having on our economy, both to businesses and to households across the country. The address also highlighted further tax measures to be implemented as additional relief measures.
Budget statements have in recent years perennially made downward revisions in economic growth projections. Disappointing growth outcomes compared to official forecasts is partly attributed to the inability to implement planned structural reforms that would have delivered improved growth outcomes.