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Constitutional Court’s ruling in tax dispute a relief for SA multinationals
Coronation withdraws cautionary to shareholders following victory in litigation with SARS over the foreign business establishment tax exemption.
‘Lack of maintenance or wear and tear’ gave rise to most of the disputes in several categories of insurance.
Read moreCoronation withdraws cautionary to shareholders following victory in litigation with SARS over the foreign business establishment tax exemption.
The tax fraternity is concerned about the apparent ease with which scamsters can bypass SARS’s security protocols.
Pay attention to the conditions that must be met to be exempt from filing a return.
Auto-assessment notices will be sent out from 1 July, SARS says.
The decision could set a precedent for taxpayers seeking relief from interest after reaching a Voluntary Disclosure Programme agreement with SARS.
Discovery Corporate and Employee Benefits provides a checkist of what employers should be doing before 1 September.
The allocations to the savings component can happen only from 1 September onwards, says Old Mutual.
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
SARS responds to reports of hackers accessing practitioners’ eFiling profiles, removing clients, and changing banking details.
The group claimed R200m in VAT refunds for importing, storing, and selling diesel.
Lusizo Henna laundered the R3.1m refund within 14 days of SARS paying the money into his business account.
The ruling makes the Tax Courts more accessible, but there are risks to taking on SARS without a qualified and experienced legal representative.
The decision addresses the recovery of VAT on payments made under loan cover provided free of charge.
Once the draft amendments to the Money Laundering and Terrorist Financing Control Regulations are enacted, failure to submit the required Cash Conveyance Report could lead to imprisonment for up to 15 years or fines of up to R100 million.
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
Taxpayers carrying on trade as an investment holding company should ensure they can demonstrate a high degree of involvement in the operations of the subsidiaries.