In-depth technical tax knowledge and our understanding of how tax fits into the wider business picture.
A resident is defined in section 1 of the Income Tax Act No. 58 of 1962 (“the Act”). The definition includes a place of effective management test as one of the tests to determine the residence of a company.
Promises of job creation, fighting poverty, unemployment and government improving its service delivery mechanisms took centre stage in Finance Minister Pravin Gordhan’s Budget speech.
While KPMG did not anticipate major Tax changes in the current year, the complexity and challenges of the existing Tax environment means that it is time for Tax to be a board room level topic again
The taxation of share incentive scheme benefits has been the subject of a whopping eighteen binding rulings published on the SARS website. It will be no surprise if there is more detail in the 2014 budget.
It is widely expected that some changes to combat so-called base erosion and profit shifting (Beps) will be made to the South African tax system in Budget 2014, according to Barry Ger of KPMG.
Pravin Gordhan really can't rock the boat very much, says Lullu Krugel, KPMG economist, during an interview with Hilton Tarrant on Moneyweb Radio.
Finance Minister Pravin Gordhan’s Budget speech will likely focus on spending, says KPMG’s Cuma Limekaya
Reduce tax rates to grow the economy and increase tax collections, says Yasmeen Suliman, director corporate tax at KPMG, who believes that a move like this could be the legacy that Pravin Gordhan leaves behind in his 2014 budget speech.
Yasmeen Suliman, KPMG tax director, has called for more concrete ideas on how to put the proposed job subsidy into place without compromising existing jobs.
The South African government should reduce tax rates to grow the economy and increase tax collections, according to Yasmeen Suliman, director corporate tax at KPMG.
The tax debate, internationally and in South Africa, is progressively focusing on closing perceived tax loopholes (in order to boost collections) and increasing self-assessment through vigorous auditing by the tax authorities.
The tax debate is increasingly focusing on closing perceived tax loopholes (in order to increase collections) and increasing self-assessment through vigorous audit by SARS of the satisfaction of their compliance requirements by taxpayers.
The reduced tax revenue target of R895bn for the fiscal year ending March 30 will not be achieved given the expected drop in tax revenue, tax commentators say.
It is well known that the growth of the South African economy is languishing, and that unemployment levels are dangerously high. Without real economic growth, it is unlikely that sufficient sustainable jobs will be created.
Consequent on the Action Plan, the OECD recently published a discussion draft (OECD Discussion Draft on Transfer Pricing Documentation and Country by Country reporting), which addresses BEPS Action Point 13.
Historically, the processing of ore was a contentious issue from a diesel refund perspective, due to the various interpretations held by SARS and industry participants in the diesel refund scheme.
Tax implications in relation to the assumption of contingent liabilities in part settlement of the purchase price of assets acquired as part of a going concern.
Tax directors around the world are shouldering the impact of fundamental changes in attitudes and approaches to tax.
South Africa Taxes and incentives for renewable energy
KPMG’s Tax leaders address the questions that matter and put their views on video.
Investment Fund Seminar
SARS issued Binding General Ruling 14 (BGR14) on 22 March 2013, which deals with the VAT treatment of supplies in the short-term insurance industry.
The South African Revenue Service (SARS) recently issued BGR 14 in respect of the VAT treatment of supplies made and received by short-term insurance companies.
The Global tax environment has been evolving, and the speed of this evolution has picked up at a rapid pace.
The impact of the Mineral Petroleum Resources Royalty Act No. 28 of 2008 (“Royalty Act”) on coal mining companies in South Africa has been subject to substantial debate (and legislative amendment) since the Royalty Act came into effect.
The Taxation Laws Amendment Bill (B39 of 2013) (“TLAB”) confirms the introduction of interest withholding tax at a rate of 15% as from 1 January 2015 which applies in respect of interest that is paid or that becomes due and payable on or after that date.
IT Law and Data Protection Factsheet
The Taxation Laws Amendment Bill, 2013 issued on 24 October 2013 (following the draft Bill issued 4 July 2013) proposes transfer pricing relief for loans with equity like features, provided certain requirements are met.
In a statement issued on 12 October 2013, the South African Ministry of Finance announced that South Africa will work closer with the UK to tackle offshore tax evasion.
You are invited to join us for this quarter’s Tax and Legal Interest Group meeting
The Minister of Finance, Honourable Alexander B. Chikwanda, presented the Zambian 2014 National Budget on Friday 11 October 2013. Here we outline the some of the key international tax changes.
Ben-Schoeman Geldenhuys explores Tax related changes in the Mining Sector - video
Muhammad Saloojee discusses Tax Developments in the Mining Industry - video
The Taxation Laws Amendment Act, 2012, has amended the tax consequences of debt reduction transactions entered on or after 1 January 2013.
The recently released Taxation Laws Amendment Act includes some amendments to certain important provisions of the Mineral and Petroleum Royalty Act, 2008 (Royalty Act).
In February 2013, the Organisation for Economic Cooperation and Development (OECD) published a report, “Addressing Base Erosion and Profit Shifting”
Foreign e-content providers now required to be VAT registered and VAT registration process to be streamlined
Share incentive schemes – rules will change on the tax treatment on dividends paid
In a recently issued Government Gazette, the Government has changed the administrative rules that made it challenging for non-residents to meet their tax liabilities in South Africa.