(c) Institute of Chartered Accountants in England and Wales. Contact ICAEW for permission to reproduce this article., Fintech, Tax

Digitalisation of tax: international perspectives (2019 edition)

Find out how digital technology been utilised by international tax administrators to reduce costs and improve compliance and tax yields, while crucially assessing the future challenges these economies face. In particular, in this updated 2019 version, we synthesises a holistic review of the processes of digitalisation: the needs of the different stakeholders, the tools and… Read More Digitalisation of tax: international perspectives (2019 edition)

(c) Hong Kong Institute of Certified Public Accountants. Contact HKICPA for permission to reproduce this article., Tax

A new world for taxing cross-border sale of goods

In today’s increasingly digital economy, flows of goods and services can be seamlessly transacted through electronic means all over the world at any time of a day and night. Existing tax rules in most countries are not up to speed with this new economy, while the other countries are adopting their own set of rules… Read More A new world for taxing cross-border sale of goods

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

The Tax Administration Act: the administrative umpire for unreasonable delays by SARS

Sometimes it just doesn’t seem fair. Punitive measures against taxpayers are swift and stressful. What many taxpayers don’t know, is that the Tax Administration Act (TAA) has the role of administrative umpire, ensuring that SARS, too, plays fair. SARS needs to be efficient, economic and effective; act impartially, fairly, equitably and without bias. And no,… Read More The Tax Administration Act: the administrative umpire for unreasonable delays by SARS

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

Another tax interpretation rule conundrum

By Pieter Faber  The Supreme Court of Appeal (SCA) in CSARS vsDaikin, in a split judgment, tests the rules of interpretation again and creates further uncertainty on how to practically approach the rules of interpretation. Background CSARS v Daikin Air Conditioning(185/2017)[2018] ZASCA 66 (25 May 2018) is an appeal to the SCA regarding theclassification of… Read More Another tax interpretation rule conundrum

(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