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.
KPMG International has announced that John B. Veihmeyer has been selected by its board of directors as KPMG’s next Global Chairman, to succeed Michael Andrew who is retiring after serving as Global Chairman since May 2011.
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.
It is generally conceded that inappropriate incentives and remuneration structures led to unwelcome behavior in the banking industry: this increased risk and contributed to the crisis.
In this edition, we pay tribute to our beloved former president and father of our democratic nation, Nelson Rohihlahla Mandela. He
Faced with falling commodity demand and prices and rising input costs, mining companies are experiencing declining margins.
At the end of September 2013, after months of debate and consultation, Cabinet announced its approval of the “credit information amnesty” proposals as put forth by the select committee on trade and international relations.
KPMG unpacks the Tax changes in the Budget Speech and highlights the complex and challenging environment in which corporates need to manage their taxation affairs going forward.