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In Corporate

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Yet another amnesty…use it to buy peace of mind

Yet another amnesty is upon us and, again, those who have crooked their tax can come clean.

Regrettably, for those of you who did what you had to and complied, there’s nothing. Even though you declared fully and paid your tax, no vestige of appreciation is forthcoming.

Tax disputes…more than one way of skinning the cat

Many aggrieved taxpayers, and SARS officials, may regard the Tax Court as the only mechanism to resolve a tax dispute.

SARS’s general function is to raise assessments based on its conviction that a certain amount should be taxed. A taxpayer who disagrees with a SARS assessment may either capitulate and pay the tax, or declare a dispute via an objection and appeal process.

Emerging farmers' court triumph over SARS

South Africa’s embattled emerging farmers are celebrating an historic victory over the South African Revenue Services (SARS).

Grain SA organises Nampo Harvest Day, which showcases many facets of agriculture.

SARS agency appointments found to be questionable

SARS, as all are aware, has extremely wide powers to collect outstanding tax, one of the strategies of which is to appoint an agent to collect tax on its behalf.

Structural fog, semantic fog and legislative fog

Structural fog, semantic fog and legislative fog are, variously, relevant to host of, almost invariably, foggy tax matters.


SARS loses out for failing to follow correct procedure

No-one; no entity – not even the SA Revenue Service – can escape the consequences of failing to follow the correct tax procedure.

Contributed tax capital: simplicity at last! by Mogola Makola

By now, many will have heard something about contributed tax capital (CTC). A year or so hence, the concept will form part of the South African tax terrain – to the relief of tax practitioners who have had to trawl through the Income Tax Act’s (“the Act”) three-to-four page long definition of a dividend. I certainly heaved a sigh of relief when I read the Revenue Laws Amendment Bill of 2008 (“Bill”).

A SOLAR-POWERED LIGHT AT THE END OF THE TUNNEL? – ANERIA BOUWER

The current, ongoing electricity crisis prompted many South Africans to invest at great cost in stand-by means of power supply, such as generators. For example, according to media reports, FNB is spending approximately R88 million to expand its current network of generators.

NO SURPRISES IN THE 2008 BUDGET SPEECH - BARRY GARVEN

The income tax rates for South African corporates will be reduced from 29% to 28%. This was one of the key announcements made by Trevor Manual, the Minister of Finance, in his 2008 budget speech.

BUDGET PREDICTION - BARRY GARVEN

I think one can safely say that taxpayers should not expect major tax changes in this year’s Budget.

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