Archive | February, 2015

S.Africa: Understatement penalties: where is the prejudice to SARS?

Understatement penalties: where is the prejudice to SARS? ENSafrica Seelan Moonsamy and Nada Kakaza South Africa February 18 2015 The understatement penalty (“USP”) regime introduced by the South African Revenue Service (“SARS”) in terms of the Tax Administration Act, No 28 of 2011 (the “TAA”), which is still in its infancy stages, has led to […]

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Posted in Africa, SADC, South Africa

S.Africa: Withholding taxes summary

South African withholding taxes ENSafrica Magda Snyckers and Liesl Visser South Africa February 18 2015 Over the past few years we have seen the introduction of various withholding taxes to the South African tax system. We set out below a high-level summary of the various withholding taxes that are levied in terms of the Income […]

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Posted in Africa, SADC, South Africa

S.Africa: Amendment to the definition of “relevant material”

Amendment to the definition of “relevant material” 26 January 2015  Author: Mike Dingley (Mazars) Mike Dingley discusses the amendment to the definition of relevant material as an “absolute discretion”. The 2014 Tax Administration Laws Amendment Bill (TALAB) when passed will amend the definition of “relevant material” as contained in section 1 of the Tax Administration […]

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Posted in Africa, SADC, South Africa

S.Africa: Big Brother is watching you

Big brother is watching you! DLA Cliffe Dekker Hofmeyr Lisa Brunton Global, South Africa February 13 2015 Even George Orwell, with his prophetic satirical insight, would have been confounded by the level of domestic and global surveillance that characterises our lives today. Not that all of it is as malignantly ubiquitous and pervasive as the […]

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Posted in Africa, SADC, South Africa, Transfer Pricing

Africa: Various tax related updates

New Developments Nigeria: February 2015 Tax Calendar ß PwC Nigeria In this time of falling government revenue, there is a lot of focus on tax compliance by various tax authorities. Nigeria: FIRS Retains Interest Rate For Tax Default At 15% For 2015 ß PwC Nigeria The law establishing the FIRS, the Federal Inland Revenue Service […]

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Posted in Africa

S.Africa: Effect Of Taking Professional Advice On Imposition Of Understatement Penalties And Interest

South Africa: Effect Of Taking Professional Advice On Imposition Of Understatement Penalties And Interest Last Updated: 10 February 2015 Article by Beric Croome ENSafrica  On 18 November 2014 Wepener J delivered judgment in the case of Mr Z v The Commissioner for South African Revenue Service, case number 13472 in the Tax Court Johannesburg (as […]

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Posted in Africa, SADC, South Africa

S.Africa: Changes to criteria considered by SARS when suspending payment of tax

Changes to criteria considered by SARS when suspending payment of tax DLA Cliffe Dekker Hofmeyr Mareli Treurnicht South Africa January 30 2015   When the Tax Administration Act, No 28 of 2011 (TAA) was promulgated on 1 October 2012 it introduced rather aggressive provisions empowering the South African Revenue Service (SARS) to collect tax more […]

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Posted in Africa, SADC, South Africa