Synopsis

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.

Download the latest Synopsis edition here

In this edition:

Synopsis Tax today - April 2024

In our first article of the new ‘Tax transparency – tip of the iceberg series’ we discuss a framework to govern tax. “To remain relevant, today’s tax leaders must reinvent their approach to tax. They must rethink how tax fits into a complex operating environment – and they must be more transformative in their approach to tax, their tax operations and their entire tax narrative.” Failure to prioritise a formal approach to tax governance significantly increases the probability of exposure to unnecessary financial and reputational risk. It can also lead to missed opportunities to enhance the status and influence of tax across the organisation and externally.

On 21 February 2024, the National Budget 2024 was published by the National Treasury, in our second article we analyse The Tax Matters and Revenue Laws section of the National Budget that includes various value added tax proposals for deeper consideration by the National Treasury and SARS. We discuss and unpack some of the main VAT proposals that are of note and that will require careful consideration and taxpayer input to ensure the final legislation is relevant and practical.