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Managing Tax Risks Through Tax Indemnity Insurance

25 June 2024 | Tax

Taxpayers have multiple tax risk management options at their disposal when entering into complex transactions with each option having its own advantages and disadvantages.

Bowmans acts for Coronation in a decisive Constitutional Court win against SARS

21 June 2024 | Tax

Bowmans acted for the Coronation group in a nine-year dispute with SARS regarding whether the income of Coronation’s Irish subsidiary should be taxed in South Africa. This has involved three appeals being heard in the Western Cape Tax Court, the Supreme Court of Appeal and the Constitutional Court.

The High Stakes of South African Expat Retirement Planning

21 May 2024 | Tax

While planning and packing to move abroad may seem simple, many expatriates often wonder about what will happen to the fortune of their accumulated retirement funds.

SARS homes in, is it time for voluntary disclosure?

15 May 2024 | Tax

With SARS intensifying its compliance scrutiny, whether intentional or unintentional, failing to adhere to tax laws carries severe consequences. While many taxpayers have previously expected minor repercussions such as fines and interest charged, a revised prosecution strategy, with the assistance of the Hawks and SAPS, has clearly shown that SARS has altered the landscape. All indications suggest that the tax authority, facing mounting pressure on tax collections and persistent non-compliance, actively pursues the arrest and prosecution of taxpayers who fail to disclose their taxable income accurately.

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