Synopsis August 2020
The Tax Court in Johannesburg recently handed down judgment in a dispute between a vendor and SARS (Case Number VAT 1712) in which SARS, after making a substantial refund including interest.
Synopsis
Latest edition:
Synopsis Tax today - September 2020
A monthly journal, published by PwC South Africa, that gives informed commentary on current developments in the tax arena, both locally and internationally.
Through analysis of and comment on new laws and judicial decisions of interest, Synopsis helps executives to identify developments and trends in tax law and revenue practice that may affect their business.
In this edition:
We assess the extent of the VAT relief provided by Government to businesses that assist in dealing with the Covid-19 pandemic. Although some VAT relief has been provided by Government during the Covid-19 pandemic, this relief is limited and does not materially assist businesses that have come forward to assist Government through various other initiatives.
The disruption caused to our world and our work with the advent of Covid-19 has resulted in many unintended consequences, not least of which are those related to the world of expatriate tax. We examine the principles behind taxation of employment income from a South African perspective before considering the taxation of income from employment from an international tax perspective.
The Voluntary Disclosure Programme (VDP) was introduced into the Tax Administration Act with effect from 1 October 2012, for purposes of enhancing voluntary compliance in the interest of good management of the tax system and the best use of SARS’ resources. We analyse the recent judgment of Purveyors South Africa Mine Services (Pty) Ltd v The Commissioner for the South African Revenue Service. Whilst the VDP regime sounds like a good practical solution for taxpayers to come clean with SARS in theory, it appears that the process can be complicated.
Read more on this and other matters in the latest Synopsis below.
Download the latest Tax Synopsis
Edition: Tax Synopsis - September 2020
Previous editions
Synopsis July 2020
We discuss the settlement of a tax dispute, available to taxpayers in respect of which an assessment has been issued by SARS and which the taxpayer has disputed under Chapter 9 of the Tax Administration Act.
Synopsis June 2020
We look at reimagining the supply of financial services from a VAT perspective, as we analyse the recent judgement in the matter of ABC (Pty) Ltd v CSARS (VAT 1626) [2020] SARSTC. This judgment provides guidance on the principle of direct attribution and the interpretation of financial services.
Synopsis May 2020
This month in the matter of Telkom SA SOC Ltd v Commissioner for the South African Revenue Service [2020] ZASCA 19 (25 March 2020), we analyse the second dispute concerning the right of Telkom to deduct commissions paid to selling agents who signed up subscribers.
Synopsis April 2020
We analyse the recent judgement of Telkom SA SOC Ltd v Commissioner for the South African Revenue Service [2020] ZASCA 19 and we continue with our "Tax as an strategic asset" series and consider how good visualisation customised for your particular needs, can provide the intuitive edge you need.
Synopsis March 2020
This month in the ‘Tax as a strategic asset’ series we look at considerations for tax functions during the COVID-19 pandemic. We also discuss the significant challenges COVID-19 presents to people and investment funds around the globe as the disruption continues to evolve.
Synopsis February 2020
We discuss the new ‘Tax as a strategic asset’ series that focuses on the tax function as a value-added business partner. The second article in the series deals with data science in tax and how to upskill, digitalise and adapt to provide an appropriate tax narrative.
Synopsis January 2020
We discuss Tax Case No. 24643 where the Gauteng Tax Court was asked to adjudicate the adequacy of the reasons for a penalty assessment levied by SARS following an audit which resulted in the issuing of an additional assessment.
Synopsis November/December 2019
We analyse the decision of the Tax Court in Tax Case 14434, and the principle that income tax is determined by reference to years of assessment.
Synopsis October 2019
In recent years a degree of tension has developed in the taxation of companies relating to the valuation of inventories. Companies are obliged to conform with the requirements of IFRS in reporting the value of inventories at the lower of cost or net realisable value.
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