Webber Wentzel
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Sponsored by Webber WentzelProposed changes to the Income Tax Act, contained in the 2019 draft Taxation Laws Amendment Bill, were released for comment by the National Treasury on July 21 2019.
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Sponsored by Webber WentzelThe appointment of Edward Kieswetter as the new Commissioner for the South African Revenue Service (SARS) was announced at the end of March 2019.
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Sponsored by Webber WentzelA number of proposed tax changes were highlighted in documents released as part of South Africa's annual budget on February 20 2019. The draft legislation dealing with these will only be released for comment later in the year, but some of the key takeaways have been highlighted below.
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Sponsored by Webber WentzelSouth Africa's Supreme Court of Appeal (SCA) handed down an important judgment on the doctrine of simulation, or substance over form, on November 9 2018, putting to rest some significant confusion created by an earlier judgment of the Gauteng Tax Court.
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Sponsored by Webber WentzelChanges made last year to South Africa's dividend stripping rules have effectively eliminated the ability of group companies to make use of the rollover relief provisions that historically have allowed qualifying liquidations or deregistration of group companies (both local and foreign) to be done on a tax-neutral basis.
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Sponsored by Webber WentzelProposed changes to the Income Tax Act, contained in the 2018 draft Taxation Laws Amendment Bill (DTLAB), were released for comment on July 16 2018. This update focuses on certain international tax-related proposals.