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

Tax today: a global view

From the tax challenges of the digital revolution to international anti-avoidance tax measures. Tax leaders from global accounting bodies talk about critical tax issues currently on the minds of businesses, citizens and CPAs during a roundtable discussion hosted by A Plus. Business models and people’s lives are increasingly being transformed by digitalization – yet tax… Read More Tax today: a global view

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

Digital VAT is here for the United Kingdom

The global tax landscape is changing. Tax authorities around the world are exploring how technology and digitisation can transform their work and the tax compliance landscape. The 21st century might still be waiting on the flying car of the Back to the Future films but the impact of technology isn’t just prevalent in the mega… Read More Digital VAT is here for the United Kingdom

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

The enactment of economic substance legislation in no or only nominal tax jurisdictions

Gwenda Ho and Ricky Chow examine the economic substance legislation in the Cayman Islands and the British Virgin Islands and share their insights and other related observations. International efforts targeting tax neutral jurisdictions are nothing new. Indeed, the work leading to the latest enactment of the economic substance legislation by various jurisdictions dates back to… Read More The enactment of economic substance legislation in no or only nominal tax jurisdictions

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

The looming expat tax is unfair

Most taxpayers affected by the new expat tax are probably earning hard currency and the current weakened rand will to some extent negate the impact of the R1 million exemption. But expats do need to be taxed in some way By Hilary Dudley On 1 March 2020, the amended section of the Income Tax Act… Read More The looming expat tax is unfair

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

Turning tales of perception into facts of reality

By Madelein Grobler Many tax practitioners and members in business (MIB) can tell a tale around their struggles around South African Revenue (SARS) Service passing unexplained journal entries on the statement of accounts for many years. SAICA has also taken part in this tale, continuously raising the concern during SARS engagements − since April 2015!… Read More Turning tales of perception into facts of reality

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

Tax implications of closing down a business

Should all expenses a company incurs in limiting further losses by closing down be deductible for income tax? By Elizabeth Lombaard It is something that seems to be happening more and more these days – businesses starting up and then closing down. And, as a tax professional, I have been approached a number of times… Read More Tax implications of closing down a business