We provide a wealth of publications by PwC South Africa providing informed commentary on current developments in the tax arena, both locally and internationally. Through analysis and comment on new law and judicial decisions of interest, they assist business executives to identify developments and trends in tax law and revenue practice that might impact their business.
Withdrawal of proposed reduction in UIF remuneration threshold
In the 2015 Budget it was proposed that, for a one year period, the remuneration threshold against which contributions to the UIF are calculated be reduced from R14 872 to R1 000.
Following a public consultation process, the Minister of Finance announced in a media statement on 30 April 2015 that the implementation of the proposal will not be proceeded with in the 2015/16 fiscal year.
|Tax Alert 2015|
|Tax Alert 2014|
|Tax Alert 2013|
|Tax Alert 2012|
|Tax Alert 2011|
|Tax Alert 2010|
|Tax Alert 2009|
Electronic services –VAT registration implications
In line with the new legislation, set to take effect on 1 April 2014, electronic services supplied by a business outside South Africa to a recipient in South Africa will require the supplier of such services to register for Value-Added Tax (VAT).
The Taxation Laws Amendment Act amended the definition of 'enterprise' in the VAT Act to now include the supply of 'electronic services' by a person from a place outside South Africa to a recipient, where that recipient is a resident of South Africa, or where any payment originates from a bank registered or authorised in terms of South African law.
|VAT Alert 2014|
|VAT Alert 2013|
|VAT Alert 2012|
|VAT Alert 2011|
An Overview of the Dispute Settlement of the World Trade Organization
In light of increasing trade tensions between South Africa and other partners, notably the European Union, this alert seeks to inform relevant stakeholders of the WTO dispute settlement procedures, as well as the effectiveness of addressing the differences between two WTO members ('WTO members' is the term of art given to the countries that are members of the WTO, such as South Africa and the EU) within the mechanism provided under the WTO.
On-Site Verification: Be aware of the potential impact on your business
The South African Revenue Service's Customs National Audit team has developed and is deploying an intensive information gathering exercise whereby detailed information is sought regarding the respondent's business. This on-site verification process is a precursor to the implementation of the revised Customs and Excise Act, 1964 ("the Customs Act") anticipated to be made effective in the third quarter of 2010. With greater emphasis on Customs' clients being selfcompliant, the National Audit Team appear to be preparing for the implementation of this new legislation by enhancing the customs to business interactions.