Explore the Category

Tax compliance – keeping abreast of recent changes at SARS

08 April 2015 | Tax

Everyone has a vested interest in tax compliance. The South African Revenue Services (SARS) has engaged in a five-year tax compliance programme spanning the tax years 2012/2013 to 2016/2017. Ilsa Groenewald, BDO’s Associate Director for Tax, takes a closer look at the current state of affairs.

Reportable arrangements listed – implications for foreign cell captives: PwC Tax Services

19 March 2015 | Tax

The Commissioner for the South African Revenue Service (SARS) issued a public notice in the Government Gazette on 16 March 2015, listing reportable arrangements and excluded arrangements for purposes of the reportable arrangement provisions of the Tax Administration Act. The public notice is effective from the 16 March 2015 publication date and replaces all previous notices.

Section 12J - are taxpayers missing the boat?

18 March 2015 | Tax

Any risk-averse investors will be keenly interested in venture capital as an addition to their investment portfolios. The low-yielding BOND market, fully priced property market and volatile stock market have resulted in private equity becoming the flavour of the month. According to Neill Hobbs of Hobbs Sinclair, astoundingly, many investors and investment managers are unaware or unsure of the law around an extraordinary opportunity introduced by National Treasury in 2009 under Section 12J of the Income Tax Act.

Unreasonable delays can prejudice taxpayers

18 March 2015 | Tax

There is an often quoted legal maxim that, "Justice delayed is justice denied". In a recent judgment, Ackermans Limited v Commissioner for the South African Revenue Service, the Gauteng High Court was asked to review and set aside a SARS decision to raise additional assessments. Ackermans’ main ground for review was that SARS had unreasonably delayed raising additional assessments.

quick poll

Question

Are financial advisers ready for the combined impact of COFI and AI?

Answer

Yes, fully prepared and already adapting Somewhat prepared, but still facing implementation challenges Not yet prepared, more time and support needed Unsure / still assessing the impact

View the Results