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.
The OECD published the Action Plan to address BEPS in July 2013. The Action Plan identified 15 actions along the following three key “themes”: introducing coherence in the domestic rules that affect cross-border activities, reinforcing substance requirements in the existing international standards, and improving transparency as well as certainty.
The Tax Administration Act (‘TAA’) grants powers under which SARS may instruct a third party in possession of a taxpayer’s assets to make over all or a portion of those assets in satisfaction of taxes owed by the taxpayer.
In a recent decision of the Tax Court in the Western Cape (M v C:SARS Case No. 14005), the Court considered certain property sales by the taxpayer to be transactions to which section 24(1) of the Income Tax Act applied.
Africa operates within a connected global economic system, with countries relying on global cooperation to address trade imbalances, the abuse of tax havens and the coordination of financial stabilisation efforts.
In an earlier edition of Synopsis we dealt with a Canadian decision in which it had been ruled that the Minister had an unrestricted right to demand the production of ‘tax account working papers’ . Read more
When two states conclude a double taxation agreement (DTA), they usually incorporate an article in the agreement to establish the date or dates on which the agreement takes effect.
Through analysis of and comment on new laws and judicial decisions of interest, Synopsishelps executives to identify developments and trends in tax law and revenue practice that may affect their business.
It is critical to be able to identify the trigger event that gives rise to an obligation to pay a statutory charge. In the case of a television licence, a retailer is prohibited from selling or alienating a television receiver to a customer unless the customer is in possession of a valid television licence.
“A somewhat unfortunate matter” –SARS compelled a taxpayer to pay a penalty and interest that was never due to it
Through analysis 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.
Sonja Nel
Associate Director
Tel: +27 (0)11 797 4207
Email
