Tax insights

New interest limitation rules for South Africa

23 March 2022
The Taxation Laws Amendment Act of 2021 was published and promulgated on 19 January 2022. One of the potentially most significant changes arising are amendments specific to the rules around the limitation of interest deductions in respect of debts owed to persons not subject to tax.

Proposed model for APA program in SA

17 March 2022
In December 2021 SARS released a document setting out a proposed model for establishing an Advanced Pricing Agreement Program (“APA program”) in South Africa combined with draft legislation specific thereto. In this regard SARS had previously issued a draft discussion paper on the introduction of an APA program in 2020.

Clarifying the rules dealing with WHT exemption declarations

17 March 2022
South Africa applies withholdings taxes (“WHT”) on royalties from a source within South Africa paid by any person, resident or not, to a foreign person, as well as on interest from a source within South Africa and also dividends. All these WHT’s can potentially be reduced or eliminated by the application of a double taxation treaty (“DTA”).

Section 7C Deemed Donations 2022 deadline

15 March 2022
The provisions of Section 7C of the Income Tax Act referring to instances of deemed donations have now been effective for a number of years. Over that time, SARS has extended the scope of the provisions to counter different measures being adopted by certain taxpayers to escape their exposures.

2022 Budget Speech Tax Highlights

24 February 2022
Finance Minister Enoch Godongwana presented his first budget speech on 23 February 2022. He claims that the budget strikes the critical balance between saving lives and livelihoods, while supporting economic growth.

What to watch out for in the 2022 National Budget Speech

21 February 2022
Our Minister of Finance Enoch Godongwana will be presenting his first budget speech on Wednesday 23 February 2022. He is presenting this budget in a strained economic environment, impacted by events such as the Covid pandemic as well as the civil unrest last year.

VAT and GST tax compliance in a data-driven digital age

16 February 2022
Recent advancements in digitalisation and the use of data have transformed the way that businesses engage with global revenue authorities. Today, tax and customs authorities have an increasing ability to automatically process and analyse information supplied by taxpayers.

The evolution of Africa's transfer pricing landscape: why global businesses should take notice

20 January 2022
Historically, transfer pricing legislation and regulations in Africa have been limited. Many African jurisdictions have chosen to tax cross-border transactions using tools such as withholdings tax regimes, and therefore transfer pricing principles have generally taken a back seat to date, however there are signs that this is changing.

Incentivising Innovation and Investment in the New Global Tax Landscape

4 January 2022
The rules of global taxation are on the brink of change for the first time in nearly 100 years. The leaders of the Organisation for Economic Co-operation and Development (OECD) G20 met in Rome on 30 October 30th 2021 to finalise the agreement for a global minimum tax.

G20 and OECD: The future of the global tax system

27 August 2021
The OECD recently issued a Statement on a “Two Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy”. The OECD/G20 Inclusive Framework, agreed to by more than 130 countries is the OCED’s and G20’s vision for the international tax future. There are two aspects (referred to as “Pillars”):

Limitation of assessed losses

13 August 2021
The release of the 2021 Draft Taxation Laws Amendment Bill (Draft TLAB) and the 2021 Draft Tax Administration Laws Amendment Bill (Draft TALAB) at the end of July will result in corporate taxpayers crunching hard at their numbers.

Donations to the Solidarity Fund - Can you claim?

3 August 2021
During the Covid-19 pandemic, the Solidarity Fund was established as a Public Benefit Organisation (“PBO”) with a mandate to support the national health response, contribute to humanitarian relief efforts and mobilise South Africans in the fight against Covid-19.

The types of tax directives

2 July 2021
A tax directive is an instruction from SARS to an employer on how to deduct employees’ tax from certain lump sum payments which are not covered by the prescribed tax tables. The resulting tax calculation varies according to the type of tax directive being applied for.

Home office expenses for work from home employees

1 July 2021
Have you been working from home? Can you claim a tax deduction? Is it worth the effort?

Restructuring and rollover provisions

24 June 2021
While we still find ourselves navigating the COVID-19 pandemic in the heat of the third wave, the onset of the pandemic almost a year and a half ago forced management in every organisation and sector to promptly evaluate their individual situations and provide an immediate response.

Pages

How can we help you?

Contact our offices

Cape Town

Johannesburg

 


KEEP UP-TO-DATE WITH OUR LATEST INSIGHTS AND EVENTS

rsm_updates.jpg

CHOOSE YOUR PREFERENCES