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.