Tax Alert - Short-term insurers and treatment of deferred revenue
Within the insurance industry, there has been some concern over the inconsistent application of deferred revenue
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Tax, VAT, customs and trade alerts
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.
In this alert:
COVID-19
In the wake of the COVID-19 crisis, the President, on Monday 23 March, announced significant and far-reaching measures aimed, not only at slowing the spread of the virus, but also at mitigating the effects thereof. In this regard, it has become clear that the COVID-19 crisis will almost certainly give rise to a deep economic recession that will cause businesses to close and many people to lose their jobs.
With this in mind, the President announced a number of quick and targeted measures to mitigate the economic impact of the epidemic in South Africa.
Please find a link below to the Tax Alert that deals with this matter.
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This edition: COVID-19
Previous editions: Tax, VAT, customs and trade alerts
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Tax Alert - Treatment of foreign reinsurance branches and withdrawal of the Risk Policy fund proposal
The 2019 Taxation Laws Amendment Bill, provides for the tax treatment of foreign reinsurers that conduct reinsurance business through a branch in South Africa
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VAT Alert - VAT treatment of foreign donor funded projects
On 22 July, the Draft Taxation Laws Amendment Bill, 2019, was released for public comment and contains proposed amendments VAT treatment of foreign donor funded projects.
Download PDF - 356 KB
Tax Alert - 2019 Tax Filing Season
On Friday, 28 June 2019 the SA Revenue Service (“SARS”) issued a public notice requiring taxpayers to submit their tax returns for the 2019 year of assessment.
Download PDF - 335 KB
Tax Alert - Dutch “Most Favoured Nation Clause”: South African Tax Court finds in favour of taxpayer
On 12 June 2019, the South African Tax Court issued a judgment dealing with the issue in respect of South African dividends tax on dividends paid by a South African resident company to a Dutch resident.
Download PDF - 354 KB
Tax Alert - Legislative developments: Draft amendments to anti-dividend stripping rules released for public comment
As was announced in the Budget, it is proposed that the amendments take effect on 20 February 2019 (i.e. on Budget Day).
Download PDF - 356 KB
Tax Alert - Promulgation of the Carbon Tax Act
On Thursday, 23 May 2019 the Carbon Tax Act and Customs and Excise Amendment Act were promulgated.
Download PDF - 237 KB
Tax Alert - Get ready for carbon tax
In this Tax Alert, we briefly touch on the key considerations that need to be considered by taxpayers to get ready for Carbon Tax.
Download PDF - 475 KB
Tax Alert - Interests in foreign companies held by SA residents via foreign trusts:new anti-avoidance measure
The new rules potentially impact South African tax resident individuals who are settlors and/or beneficiaries in relation to non-resident trusts that hold interests in foreign companies.
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Tax Alert - Carbon tax developments
On Tuesday, 5 February 2019, the Standing Committee on Finance adopted the Carbon Tax Bill. In addition, the draft Customs and Excise Amendment Bill will be tabled in parliament on 20 February 2019 along with the 2019 Budget.
Download PDF - 260 KB
Tax Alert - Foreign earned income
South African nationals working abroad: imminent changes to the “foreign earned income” exemption.
Download PDF - 249 KB
Tax Alert - Dutch “Most Favoured Nation” Clause: Dutch Supreme Court rules that zero rate applies
The Dutch Supreme Court ruling has important implications for dividends paid by South African resident companies to their Dutch shareholders.
Download PDF - 262 KB
Tax Alert - Fixed non-compliance penalties on Corporate Income Tax returns implemented
On 14 December 2018, Government Notice No. 1372, which implements administrative penalties on CIT returns, was published in the Gazette.
Download PDF - 234 KB
Legal Alert - Pre-qualification criteria in terms of the Broad Based Black Economic Empowerment Act No. 53 of 2003
Organs of state subject to the B-BBEE Codes may not impose pre-qualification criteria in respect of tenders unless empowered by the B-BBEE Codes to do so.
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Tax Alert - Addendum: Fixed non-compliance penalties imposed on Corporate Income Tax returns
This alert provides clarity on the Fixed non-compliance penalties to be imposed on Corporate Income Tax ("CIT") returns.
Download PDF - 258 KB
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