Africa

Details

  • Service: Tax
  • Type: Business and industry issue
  • Date: 2/6/2013

Escalation of tax audits and disputes 

As the Euro zone is South Africa’s largest trading partner, the decreased demand for South African exports has resulted in a deteriorating economic performance, an increase in the trade deficit and more sombre approach to the economy.

With fiscal deficits increasing, and the National Development plan’s approval, the tax authorities are under increasing pressure to hunt and collect from a smaller pool of taxpayers.

 

The tax authorities will continue to audit large corporate taxpayers regularly. The frequency and intensity of the audit may vary directly with the risk ascribed to the particular taxpayer and the perceived aggressive tax planning implemented.

 

With Africa widely viewed as the last frontier of continents providing real growth, the foreign investor would be well placed to promote strong corporate governance regarding their tax function. 

 

Read the full summary .

 

Share this

Share this

Contact

Contact
Roula Hadjipaschalis
Director
Corporate Tax
Tel: +27 (0)11 647 5745

Join the discussion