Issue This binding general ruling extends the time periods to export movable goods, apply for a refund from the VAT Refund Administrator, and obtain the relevant documentary proof of export, as stipulated in the Export Regulations and IN 30 respectively.
Many businesses, and especially small and medium sized entities, have jumped at the opportunity to apply for debt deferral or debt compromises.
If a South African expatriate had to describe the year 2020 in one word, “uncertainty” would no doubt rank as one of the most appropriate.
Finance Minister Tito Mboweni is facing his own crisis. He will be delivering South Africa’s – probably first – emergency budget in the wake of a massive economic decline.
The High Court in Pretoria recently ruled that taxpayers have a right to be notified before the South African Revenue Service (SARS) appoints an agent to collect ‘outstanding tax debt’.
With the ever-looming threat of COVID-19 still hanging over South Africa at large, business has had to come to terms with a “new normal”, which has and will continue to result in many taxpayers needing to work from home for the foreseeable future.
Issue The Applicant and Co-applicant approached SARS to determine the income tax and donations tax consequences of a share buy-back at nominal value pursuant to a proposed cancellation agreement.
Issue The Applicant and the Fund approached SARS to determine the tax consequences of a transfer of listed shares from the applicant to a collective investment scheme in exchange for participatory interests in that collective investment scheme, in terms of sections 9C and 42 of the Income Tax Act, No. 58 of 1962 (the ITA) […]
Issue The issue in this matter relates to whether the taxpayer was entitled to claim a diesel refund in respect of diesel purchases in conducting its mining operations, in terms of section 75(1)(d) of the Customs and Excise Act, No. 91 of 1964 (the Customs Act) and Schedule 6 thereto.
The COVID-19 pandemic has wreaked chaos on economies across the globe. Lockdowns, travel bans, and business closures has pushed several companies into liquidation; resulting in an inability to pay employees.