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:
A judgment in the Tax Court in the Western Cape had given the impression that a taxpayer’s right to claim an allowance for future expenditure did not necessarily have to relate to income actually received in terms of that contract. The Supreme Court of Appeal has made it clear that there must be a direct contractual link between the income received and the future expenditure in respect of which an allowance is claimed.
The section 24C future expenditure allowance and the contractual link. Do services provided at the expense of an employer equate to a taxable fringe benefit? Article 1 in our new Tax Director series: Align tax with the business strategy.
It has been some time since the panel of justices in the Supreme Court of Appeal (‘SCA’) has expressed anything other than unanimity in the adjudication of taxation-related appeals.
The SA Income Tax Act, is just that: a single Act of Parliament that has been regularly amended (by more than 100 amending Acts of Parliament and Government Notices) since 1962.
Over the past two years, we have discussed the valuation of trading stock for purposes of the Income Tax Act and the decisions reached in the Tax Court on this issue.
South Africa is a relatively small player on the world economic stage, and there are sound reasons why it is in the national interest to learn from, and to remain in step with, the country’s more powerful trading partners and major economic powers .
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.
A monthly journal, published by PwC South Africa, that gives informed commentary on current developments in the tax arena, both locally and internationally.
Over the past five years the adoption of a contextual approach to the interpretation of words used in documents, including statutes, has resulted in decisions that are more consistent and better understood.
In managing exposure to capital gains tax (CGT), one of the mechanisms that may be used is the preference share. In appropriate circumstances, ownership of preference shares may confer the benefit of control over a company’s affairs without necessarily attracting significant value.
