Archive | October, 2014

S.Africa: New money Bills – October 2014

Here are the copies of the following Bills introduced in Parliament:- 1.    Taxation Laws Amendment Bill 2.    Rates and Monetary Amounts and Amendment of Revenue Laws Bill 3.    Tax Administration Laws Amendment Bill b 12-2014 (rates & monetary amounts) b 13-2014 (taxation laws) b 14-2014 (tax administration laws)

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Posted in Africa, South Africa0 Comments

S.Africa: Preservation Orders & Tax

Preservation orders DLA Cliffe Dekker Hofmeyr Heinrich Louw South Africa October 17 2014 Here is the actual judgment: SA Tax Cases Tradex Pty Ltd 9 September 2014 Judgment was recently handed down in the High Court (Western Cape Division) in the matter of Commissioner for the South African Revenue Service v Tradex (Pty) Ltd and others (9 September […]

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Posted in Africa, South Africa0 Comments

Zimbabwe: Tax system in a nutshell

Zimbabwe tax system in a nutshell Celia Becker ENSafrica, South Africa Celia Becker is Tax Advisor at ENSafrica in Johannesburg. I. Background The Zimbabwean tax system is sourced-based, with a standard corporate income tax rate of 25 percent and maximum personal income tax rate of 45 percent. A three percent AIDS levy is imposed on both corporate and personal income tax The disposal of […]

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Botswana: Tax system in a nutshell

Botswana tax system in a nutshell Celia Becker ENSafrica, South Africa Celia Becker is an Africa regulatory and business intelligence executive at ENSafrica in South Africa. I. Background The tax regime in Botswana consists of a number of direct and indirect taxes including income tax, VAT, import duty and excise duty. The Botswana tax system […]

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S.Africa: Proposed Changes to Secondary TP Adjustment

Proposed Changes to Secondary Transfer Pricing Adjustment South Africa’s National Treasury and the South African Revenue Service (SARS) recently released the draft Taxation Laws Amendment Bill 2014 (Bill). One of the key proposals in the Bill is to change the secondary transfer pricing adjustment mechanism from a deemed loan to a deemed dividend. Transfer pricing […]

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Posted in Africa, South Africa, Transfer Pricing0 Comments

S.Africa: Shuttleworth wins SCA case against the SARB to refund $22m paid in a 10% levy imposed to expatriate funds out of South Africa

http://www.justice.gov.za/sca/judgments/sca_2014/sca2014-157.pdf For a summary of the case: http://www.justice.gov.za/sca/judgments/sca_2014/sca2014-157ms.pdf A short radio interview giving the basics of the case: https://www.youtube.com/watch?v=yDftRV8uWYY&feature=youtu.be Shuttleworth could have ‘shuttled’ his monies out of South Africa without the payment of a levy DLA Cliffe Dekker Hofmeyr Emil Brincker South Africa October 3 2014 In a far reaching judgment the Supreme Court of […]

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Posted in FP News, South Africa0 Comments

Nigeria: Interest On Intercompany Loan Incurred By An Oil Company Is Tax Deductible Subject To Transfer Pricing Rules

Nigeria: Interest On Intercompany Loan Incurred By An Oil Company Is Tax Deductible Subject To Transfer Pricing Rules Last Updated: 30 September 2014 Article by Taiwo Oyedele PwC Nigeria The Tax Appeal Tribunal (TAT) on 18 September 2014 passed a judgement in a case between Nigeria Agip Oil Company Limited and the Federal Inland Revenue Service (FIRS) regarding the […]

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Posted in Africa, Nigeria, West Africa0 Comments