From 15 September 2023, SARS has implemented a new system for APT wherein the APT201 returns will now be submitted via eFiling including the payment thereof. With effect from 15 […]
Tax Guide for Share Owners
This article (number one of a series of articles) summarises some of the key aspects holders of shares need to be aware of in computing their liability for income tax […]
Carbon tax rate increase
– Extension of phase 1, and change of implementation date for phase 2 In the 2022 Budget, the first phase of the carbon tax was extended by three years from […]
Amendments to regulations on the domestic reverse charge relating to valuable metal
July 2023 update This article is an update of an article published on 28 June 2022 – “Regulations imposing a domestic reverse charge on valuable metals”. Relevant Act(s)VAT Act, 1991 […]
Tax treatment of spouses married in community of property
In South Africa, your marriage is automatically assumed to be in community of property, unless you enter into an antenuptial contract. The choice of which marriage contract to enter into […]
Transparency and Beneficial Ownership – Legal Entities and Legal Arrangements
Filing of Beneficial Ownership information is required by the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act 22 of 2022. The Act amended the Companies Act and gave […]
Publication of multilateral convention to implement the tax-treaty related measures to prevent base erosion and profit shifting (BEPS MLI)
When reading this article, the reader is advised also to read three previous articles published on www.fincor.co.za for further clarity: “The International Corporate Tax Problem – Base Erosion and Profit […]
Prohibition of deductions in respect of certain intellectual property – part 1
Sources:SARS Interpretation Note 120Section 23I of the Income Tax Act Background The use of intellectual property belonging to another person normally carries a charge in the form of a royalty. […]
RESIDENT – PLACE OF EFFECTIVE MANAGEMENT
– INCOME TAX ACT 58 OF 1962 SECTION 1(1) A “place of effective management”, in determining the tax residence of a company, is only one of the considerations under the […]
Dividends Tax
The legislative foundation for the new Dividends Tax is to be found in sections 64D to 64N of the Income Tax Act, 1962 (the Act) and became effective on 1 […]