Archive | December, 2014

Nigeria: Tax Appeal Tribunal applies Court of Appeal decision on recharges by non-resident companies

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Nigeria: Court of Appeal overturns Federal High Court ruling on recharges by non-resident companies

Court of Appeal overturns Federal High Court ruling on recharges by non-resident companies  Dear In brief The Court of Appeal (“CA”) on 2 December 2014 delivered a judgment on the deductibility of recharges by non-resident companies filing income tax returns under the deemed profit regime in a case brought before it by the Federal Inland […]

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Nigeria: FIRS is clamping down on tax defaulters – may seal off premises and arrest principal officers

FIRS is clamping down on tax defaulters – may seal off premises and arrest principal officers  In brief In the past few weeks, the FIRS started to enforce filing of tax returns and payment of taxes by distraining property and procuring the arrest of principal officers of defaulting companies. This unconventional means of tax enforcement […]

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S.Africa: Professional tax advice vital in mitigation of penalties and interest

Professional tax advice vital in mitigation of penalties and interest DLA Cliffe Dekker Hofmeyr Andrew Lewis South Africa December 5 2014 Judgment was handed down in the Tax Court on 18 November 2014 in the case of Z v The Commissioner for for the South African Revenue Service (case number 13472), as yet unreported. The dispute concerned the calculation […]

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S.Africa: Interpretation of fiscal legislation

Interpretation of fiscal legislation DLA Cliffe Dekker Hofmeyr Emil Brincker South Africa November 28 2014 The judgment of the Supreme Court of Appeal in Commissioner SARS v Bosch (394/2013) [2014] ZASCA 171 (19 November 2014) (Bosch case) dealing with the fiscal consequences of a deferred delivery transaction is not only important in the context of the meaning of simulation, […]

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