Archive | September, 2014

S.Africa: Electronic assessments by SARS through eFiling? Is this proper notification?

In a DeRebus October 2014 article the author Alan Lewis concludes: “In my opinion, neither the provisions of the Tax Administration Act, 2011 nor the new tax court rules, authorise SARS to deliver an assessment to a taxpayer by posting it on the taxpayer’s eFiling page on SARS’ electronic filing service.” Here is the full […]

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Posted in Africa, South Africa0 Comments

S.Africa: SARS have introduced a new modernised tax return for Trusts

S.Africa: SARS have introduced a new modernised tax return SARS will soon be introducing a new modernised Income Tax Return for Trusts. The new ITR12T will be an interactive return that will allow you to navigate from different menu items. This appears to be the answer to SARS proposed extensive proposed amendments to the taxation […]

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Posted in Africa, FP News, South Africa0 Comments

S.Africa: Missed the NEW TAA Dispute Resolution seminar – here is the recording

Missed the NEW TAA Dispute Resolution seminar Here is the recorded version: I delivered a 4 hour detailed seminar on the NEW TAA Dispute Resolution rules (end Sept 2014) that will affect you as tax practitioner and taxpayer – should you end up having a dispute with SARS. Letter of findings Request for reasons Objections […]

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Posted in Africa, South Africa0 Comments

BRICS: Potential influence in Africa of China beneficial ownership case where preferential dividend rate denied – WITH further explanations applicable to Africa

BRICS: Potential influence in Africa of China beneficial ownership case where preferential dividend rate denied – WITH further explanations applicable to Africa Latest Chinese tax case on beneficial ownership in treaty application Abe ZhaoTax Partner, Head of International Tax of KPMG Asia Pacific Region, Country Leader of KPMG China’s International Tax Tax officials in Qinghai, […]

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Posted in Africa, FP News0 Comments

S.Africa: Customs & Excise reclassification – importance of evidence

http://www.saflii.org/za/cases/ZASCA/2013/145.html Bowman Gilfillan Virusha Subban September 19 2014 The Supreme Court of Appeal recently ruled on the correct customs duty classification for a vehicle known as a Kubota RTV Utility Vehicle.Facts The competing tariff headings in this case were: TH 87.04 for motor vehicles for the transport of goods (Subheading 8704.21.80); and TH 87.09 for […]

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Posted in Africa, South Africa0 Comments

Africa: Status of Transfer Pricing in Africa (Part 1)

Status of transfer pricing in Africa (Part I) ENSafrica Celia Becker Status of transfer pricing in Africa (Part I) Tanzania publicly released its Transfer Pricing Regulations (the Tanzanian Regulations) in May 2014, joining the growing number of African jurisdictions whose transfer pricing regimes have progressed beyond broad general anti-avoidance provisions based on the arm’s length […]

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Posted in FP News, Transfer Pricing0 Comments

S.Africa: Disposal of foreign equity shares – proceed with caution

Disposal of foreign equity shares – proceed with caution ENSafrica Peter Dachs and Bernard Du Plessis South Africa September 16 2014 In advising on international corporate transactions we often advise taxpayers that directly, or indirectly through a foreign subsidiary, dispose of their equity shares in foreign subsidiaries or equity investments resulting in a taxable capital gain. What […]

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Posted in Africa, South Africa0 Comments

Mauritius: Mauritius further enhances its position as an offshore jurisdiction of choice with 4 new DTAs

Article by Malcolm Moller and Sharmilla Bhima Appleby  The Government of the Republic of Mauritius (Government of Mauritius) has ratified double taxation agreements (DTA) with Guernsey and several African countries.  These recent agreements extend Mauritius’ offering to international clients particularly those with an interest in business into and out of African and Asian markets.  It further demonstrates Mauritius’ commitment […]

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Posted in Africa, SADC0 Comments

Transfer Pricing: 25% rule of thumb not applicable to determining royalty rates

Transfer Pricing: 25% rule of thumb not applicable to determining royalty rates Attached please find a recent U.S. Court of Appeals for the Federal Circuit case (September 16, 2014 in VirnetX, Inc. v. Cisco Sys., Inc.) in which a U.S. court finds again the “25 percent rule of thumb” to determine royalty rates inadmissible: “[W]e […]

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Posted in Transfer Pricing0 Comments

OECD: Seven BEPS Actions issued September 16, 2014

COMMENT BY DR. D.N. ERASMUS – This is a summary of an article first published in a Bloomberg BNA Transfer Pricing Report available here – http://taxandaccounting.bna.com/btac/T11500/split_display.adp?fedfid=56424976&vname=tmtrnot&jd=a0f5h9x6g1&split=0    The Bloomberg BNA Transfer Pricing Report contains written extracts from the webinar presentation set out below. www.IITF.net students are entitled to request a copy for STUDY PURPOSES only […]

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Posted in Africa, FP News, Transfer Pricing0 Comments