(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Tax

Acquisition of equity shares from non-resident subject to withholding tax

By Azwinndini Magadani The use of the word ‘indirectly’ widens the scope of the disposals of equity shares that could fall within the ambit of section 35A. The acquisition of shares generally triggers the Security Transfer Tax (STT) payable by a company whose shares are being sold but recoverable from the purchaser. It infrequently happens… Read More Acquisition of equity shares from non-resident subject to withholding tax

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Tax

Rolling VAT refunds

Challenges in obtaining VAT refunds have not only been confirmed by SAICA’s own research but reaffirmed by the Office of the Tax Ombud and even the Nugent SARS Inquiry. However, business needs to continue, and business people make plans to keep their cash flow alive. ‘Cash flow is king’ is a saying used in all… Read More Rolling VAT refunds

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Tax

Can tax law really be made simpler?

Some takeaways from the recent Tax Simplification Symposium. The Tax Simplification Symposium held 10 and 11 October 2018 and culminating in a summary seminar for SAICA members on 12 October revealed some interesting common themes in the context of tax simplification, not least of which is that there is no clear view on what ‘tax… Read More Can tax law really be made simpler?

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Tax

Supply of low-income housing: is it zero-rated?

Contractors that rendered services before January 2017 should carefully evaluate whether their services were correctly zero-rated. In the recent case of The Commissioner for the South African Revenue Services v Amawele Joint Venture CC, the Supreme Court of Appeal (SCA) considered whether the three housing projects under the Emergency Assistance Programme (EAP) and the Rectification… Read More Supply of low-income housing: is it zero-rated?

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Tax

Have the debt waiver provisions become easier to implement?

By Elizabeth Lombaard and Nishtha Bhoola Have the debt waiver provisions become easier to implement? One of the main changes introduced in the draft Taxation Laws Amendment Bill relates to the debt relief provisions set out in section 19 (which determines the income tax implications of debt relief) and paragraph 12A of the 8th Schedule to the… Read More Have the debt waiver provisions become easier to implement?

(c) South Africa Institute of Chartered Accountants. Contact SAICA for permission to reproduce this article., Tax

How does South Africa treat global citizens from a taxation perspective?

By Madelein Grobler Packing your bags and leaving on a jet plane seems a lot more complicated than it should be, but keeping yourself informed puts you in a position to make better decisions and choices as to how you want tax to impact your life abroad Stat SA released the Community Survey 2016 noting… Read More How does South Africa treat global citizens from a taxation perspective?