Commissioner for SARS v Coronation Investment Management SA (Pty) Ltd (1269/2021) [2023] ZASCA 10 (07 February 2023) The issue before the Supreme Court of Appeal (SCA) in this matter was whether a controlled foreign company (CFC) constituted a foreign business establishment (FBE) as contemplated in the Income Tax Act, No. 58 of 1962 (the ITA).
The greylisting of South Africa by the Financial Action Task Force (FATF), due to concerns about the country’s anti-money laundering efforts, has had significant consequences for individuals and businesses operating within South Africa. One of the key impacts of greylisting is the increased scrutiny of cross-border financial transactions, particularly with the remittance of funds out […]
SARS has completely overhauled tax returns for trusts. Although this has been hinted at for a long time, the degree of overhaul is far from expected.