Chapter C of the Budget Speech delivered by the Minister of Finance on the 24th of February 2021, under the heading “Curbing abuse in the ETI”, confirmed that certain taxpayers had devised schemes using training institutions to claim the employment tax incentive (“ETI”) for students. He then brought an end to this abuse. The ETI […]
Employment Tax Incentive Abuse Targeted Read More »
Section 24C of the Income Tax Act, No. 58 of 1962 (“Act”) provides for an allowance in relation to moneys received upfront in terms of a contract where expenditure will be incurred at a future stage. More specifically, the section applies if the income of any taxpayer in any year of assessment includes or consists
Tax Matters: Future Allowances on Contracts Read More »
As a result of the National Disaster and the lockdown necessitated by the pandemic, the Minister of Finance announced various tax adjustments to assist businesses in light of the negative impact on the South African economy. On the 29th of March 2020, the Minister of Finance announced the details of an initial set of measures
Updated Covid-19 Relief Measures from SARS and National Treasury Read More »
Low growth; tax revenue down; no relief from bracket creep; a bloated public service wage bill; billions in unpaid VAT refunds set to depress tax revenue even further. Not a happy message for a Minister of Finance to bring in his inaugural Budget Speech, but this is what he was stuck with, and to his
Minister Mboweni Doesn’t Sugar the Pill Read More »
Tax Consequences Globalisation has created wonderful opportunities for businesses to expand their reach across the borders of various jurisdictions and increase their market share significantly. In addition, it has enabled many investors and companies to invest in operations beyond the jurisdictions in which they reside or are registered. Markets are no longer compartmentalised based on
Directors Fees: Tax & Exchange Control Implications in the context of Global Operations Read More »
Why should you and your business care about the carbon tax? There is no doubt that South Africa, along with the rest of the world, is at the start of a long and inevitable economic transformation where business must take place within the context of constrained resources. Similarly, the legal and governance environment within which
Carbon Tax in South Africa: Call for Participation Read More »
