TP judgments in Africa – as at May 2019

May 17, 2019

Here is a list of  the current cases: The first Ghana TP  case – TP Ghana JUDGMENT IN TAX APPEAL CASE BETWEEN BIERSDORF GH LTD AND THE COMM GENERA… The first RSA TP case – Crookes Brothers Ltd v Commissioner for the South African Revenue Service [2018] ZAGPHC 311 (judgment delivered 8 May 2018) This is  a […]

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Posted in Africa, Courses, FP Carousel, FP News, Nigeria, SADC, South Africa, Transfer Pricing, West Africa, Zambia

Zimbabwe: Income tax (transfer pricing documentation) regulations 2019 – issued

May 16, 2019

Zimbabwe Report from our correspondent Gershem T. Pasi, Revenue and Business Consultant, Zimbabwe Income tax (transfer pricing documentation) regulations 2019 – issued On 10 May 2019, the Minister of Finance and Economic Development issued Income Tax (Transfer Pricing Documentation) Regulations 2019 (the regulations) by Statutory Instrument 109 of 2019. The regulations deal with matters relating […]

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The IFA MAURITIUS 13th ASIA/AFRICA CONFERENCE 2019

May 10, 2019

POEM Panel notes: https://www.africataxjournal.com/wp-content/uploads/2019/05/Poem-Panel-IFA-Mauritius-2019.pptx POEM notes: https://www.africataxjournal.com/wp-content/uploads/2019/05/§-14.42-Place-of-effective-management.pdf

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Posted in Africa, Courses, Events, FP Carousel, FP News, Nigeria, SADC, South Africa, Transfer Pricing, West Africa, Zambia

India: Recent Transfer Pricing cases – over case 900 summaries

May 6, 2019

Application of Transfer Pricing provisions not against “non-discrimination” clause of DTAA; DCF valuation subsumes goodwill: In the existing case, the taxpayer entered into a Share Purchase Agreement (“SPA”) with its Associated Enterprise (“AE”). The taxpayer’s share valuation report was rejected by the Transfer Pricing Officer (“TPO”) during the course of assessment proceedings and an upward adjustment […]

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S.Africa: The “Expat Tax” and Financial Emigration

April 30, 2019

29 April 2019 In the wake of another budget deficit, SARS looks toward South Africans living abroad to help close the gap. A recent amendment to section 10(1)(o)(ii) of the South African Income Tax Act No.58 of 1962 (‘the Act’), as part of the Taxation Laws Amendment Bill of 2017, has attracted tremendous international attention […]

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Africa is being left out of the digital tax loop – by Daily Maverick

April 12, 2019

Google parent company Alphabet reported recently its full-year results for 2018, announcing income of $30-billion off a revenue of $137-billion. But the eye-popping thing about the earnings statement was that its tax bill was just $4.2-billion, 12% of its pre-tax income, which was less than the $5-billion it paid in fines to the European Union. […]

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Ghana: Pay some tax before filing tax appeal

April 11, 2019

GHANA: High Court rules that payment of minimum disputed amount is a prerequisite for filing an appeal The Commercial Division of the High Court, in its decision of 13 July 2018, in the case of Beiersdorf Ghana Limited v. The Commissioner General of the Ghana Revenue Authority (CM/TAX/0001/2018), ruled that the payment of at least […]

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S.Africa: Country by Country reporting

April 11, 2019

Country-by-Country Reporting and Transfer Pricing SARS issued a public notice on 20 October 2017 which stipulates the requirements and timeframes for Country-by-Country Reporting (“CbCr”) and transfer pricing documentation (master file and local file).  The requirements for CbCr which apply for financial years commencing on or after 1 January 2016 is a consolidated Multi-National Entities (“MNE”) group turnover […]

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TP Zambia: Nestle Zambia Trading Ltd v ZRA

April 1, 2019

Here is a FULL copy of the case. Although there is a useful summary below, read the full case for yourself: https://www.africataxjournal.com/wp-content/uploads/2019/04/Nestle-vs-ZRA-TP-Case-2019.pdf On March 28, 2019, the Tax Appeals Tribunal (TAT) delivered its decision in Nestlé Zambia Trading Limited v Zambia Revenue Authority [2018] TAT 03. The case is very likely to have important future implications for […]

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A creature of statute: A decision about the Tax Court’s power to increase understatement penalties – Cliffe Dekker Hofmeyr

March 22, 2019

In the recent judgment of Purlish Holdings (Proprietary) Limited v The Commissioner for the South African Revenue Service (76/18) [2019] ZASCA 04, the Supreme Court of Appeal (SCA) had to pronounce on the South African Revenue Service’s (SARS) entitlement to impose understatement penalties on Purlish Holdings (Proprietary) Limited (Taxpayer) and the quantum thereof. To this […]

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Posted in Africa, Courses, Events, FP Carousel, FP News, Nigeria, SADC, South Africa, Transfer Pricing, West Africa, Zambia