Archive | September, 2019

Tax Court: When SARS are late what are the condonation principles?

We prepared to argue an application for default judgment against SARS in the Tax Court on 13 September 2019. SARS were very late in filing their opposing papers, as they were with everything else leading to the default judgment application in the first place. We ended up not arguing the case as SARS settled the […]

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Advanced Postgraduate Diploma in Transfer Pricing

Advanced Postgraduate Diploma in Transfer PricingCourse Start Date: 28th October 2019Delivered by Tutored Distance Learning Do you wish to develop an in-depth and practical understanding of Transfer Pricing as well as examine the latest policy developments and tax treatment of complex TP transactions that you and your organisation need to deal with in an increasingly demanding regulatory environment? If so, you will be […]

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Inbound interest bearing loans – Section 31 versus section 23M of the Income Tax Act

ENSafrica – Simon Weber and Mike Benetello “There can be no objection in principle to the deduction of interest on loans in suitable cases. Loan capital is the life blood of many businesses but the mere frequency of its occurrence does not bring about that this type of expenditure requires different treatment.” Whilst these words of Hefer JA in […]

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OECD releases latest dispute resolution statistics at its first Tax Certainty Day

16/09/2019 – The first OECD Tax Certainty Day took place today at OECD headquarters in Paris. As recognised by G20 Ministers, maintaining and enhancing tax certainty brings benefits for taxpayers and tax administrations alike and is key in promoting investment, jobs and growth. This is particularly the case against the backdrop of the rapid digitalisation […]

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Broadening the scope of the South African transfer pricing rules

ENSafrica OECD, South Africa September 10 2019 South Africa has transfer pricing legislation which generally applies to cross border transactions between connected persons. This is achieved through the reference to an “affected transaction” in section 31 of the Tax Act, which in turn refers to a “connected person” as defined in section 1 of the Tax Act. […]

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Australia: Glencore’s ‘big win’ for taxpayers on transfer pricing

September 12, 2019 By Ruth Butter & Stefan Sunde at TP EQuilibrium AustralAsia The Federal Court of Australia on 3 September issued its much-anticipated judgment Glencore Investment Pty Ltd v Commissioner of Taxation of the Commonwealth of Australia [2019] FCA 1432, herein referred to as the Glencore decision. First, the Court found that the Commissioner of the Australian […]

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S.Africa: Offshore Trusts: The basic considerations and recent amendments

ENSafrica South Africa September 10 2019 A new world The world of offshore trusts is now more dynamic than ever. The benefit of trusts as effective tools for the preservation of assets for future generations has been commonly known and accepted for decades. Globally, the trust environment has changed significantly due to the introduction of the […]

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