We assist businesses in all areas of Tax Law
Tax law involves planning and dispute resolution advice and representations in respect of the various types of tax, including income tax, value-added tax, capital gains tax, dividends withholding tax, donations tax, international tax and employees’ tax.
Tax law is constantly evolving due to bi-annual changes to the legislation and court judgments in relation to the legislation. As a result, individuals and businesses need specialised and ongoing tax advice. We have specialist consultants with legal and accounting tax experience, enabling us to provide a tax service that is both legally and financially sound.
Our panel members also offer compliance work (completion of returns, objections and appeals, as well as tax directives), representations on our clients’ behalf to National Treasury/SARS on legislative amendments, advice on reportable arrangements, and the submission of Advance Tax Rulings to SARS.
We also advise on the South African exchange control implications of in- and outbound investments.
The most important step to take is the next one.
- Liesl Kruger, Caveat Panel Member
Tax Laws & Regulations
There are many acts that fall within the ambit of Tax Law including the Income Tax Act, 1962 the Value-added Tax Act, 1991 the Tax Administration Act, 2011 the Estate Duty Act, 1955 the Skills Development Levy Act, 1991 and the Transfer Duty Act, 1949.
Taxpayers are increasingly faced with audits and investigations by SARS. These queries usually lead to SARS issuing additional assessments, necessitating taxpayers to embark on the litigation process, including the submission of letters of objection or appeal, the Alternate Dispute Resolution process and, in some instances, to proceed to the courts.
Our specialists are very experienced in this area of tax law, having assisted various clients with the processes outlined above, including a matter that proceeded to the Constitutional Court.
Our panel members have vast experience in all areas of income tax, including corporate tax, the structure of property transactions, employee share incentive schemes, company restructuring (including the application of the corporate rules), and the taxation of financial services (including insurance, structured products, investment and hedge fund structuring and the taxation of derivatives).
We also advise on the income tax aspects applicable to natural persons, including the evaluation of a person’s residence status for tax purposes, acquisition and disposal of property, and emigration/immigration.
Capital gains tax
Our specialists are able to advise on all areas of capital gains tax, including the determination of the base cost of an asset and the proceeds on disposal thereof, as well as specific exclusions and rules.
We are able to assist with international structuring, whether inbound or outbound, and advise on the most efficient manner in which to structure these transactions. This includes the analysis of the relevant South African legislation, as well as the application of Double Taxation Agreements between South Africa and other jurisdictions.
Our team is well suited to advise on all areas of employees’ tax, including the determination of fringe benefits and the structuring of employment contracts.
Our specialists have experience with all areas of value-added tax, including advising on the VAT implications of corporate transactions, applicable exemptions and exclusions.
Frequently asked questions on Tax Law
There are many acts that fall within the ambit of a Tax Law including the Income Tax Act, 1962 the Value-added Tax Act, 1991 the Tax Administration Act, 2011 the Estate Duty Act, 1955 the Skills Development Levy Act, 1991 and the Transfer Duty Act, 1949.
Income tax is the main tax in South Africa and is levied on the “gross income” received by any corporate, trust or natural person. The statutory law deals with the determination of a person’s income and the applicable inclusions and exemptions. There is also a wealth of common law in the South African tax realm, with many court cases contributing to the interpretation of the South African tax legislation.
SARS also regularly issues Interpretation Notes and Binding Private or Public Rulings that provide guidance on the interpretation of the principles of taxation.
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As a result of the National Disaster and the lockdown