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.
Rotational Workers – The Victims of 01 March 2020 Expatriate Tax Having just returned from visiting South Africans in remote locations in the Democratic Republic of Congo, Zambia, Oman, Qatar, Saudi Arabia, UAE etc;
Oops payroll – what happened to my net take home pay? Starting a new job in an employee’s career is usually an exciting event with the additional prospect of increasing their earning potential in most cases.
The History of the Policy Shift A quick recap for newcomers to taxation of South Africans abroad is that after a near two decade policy of giving an employment tax exemption to South Africans performing employment services abroad, there was a material policy shift by National Treasury and SARS, first to completely remove the exemption […]
With the effects of COVID-19 hitting the National Treasury where it hurts the most, in the pocket; SARS has introduced auto-assessments.
SARS released a media statement in May 2020, noting some of the devastating effects of the pandemic on the economy and revenue collection. Covid-19 is causing a rapid rate at which businesses are closing their doors and jobs are being shed.
Looking at global statistics and for those following international news, it appears South Africans can be grateful for not being hit as hard as other countries by Covid-19; yet.