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| SOUTH
AFRICAN LAW AND TAX HEADLINES |
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SARS Commissioner Named New Chair Of OECD Tax Forum
12/05/2008 |
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The Organisation of Economic Cooperation And Development (OECD) has announced that Pravin Gordhan, Commissioner of the South African Revenue Service (SARS), assumed his new role as Chair of the OECD Forum on Tax Administration (FTA) on 1st May 2008.
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Bond Exchange Of South Africa Designated As Recognised Stock Exchange By HMRC
21/04/2008
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With effect from 16th April, 2008 HM Revenue and Customs has designated the Bond Exchange of South Africa (BESA) as a recognised stock exchange.
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STORY
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South Africa Introduces New Reportable Arrangements Legislation
16/04/2008 |
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Following extended consultations, the South African government has announced the introduction of strengthened reportable arrangements legislation, designed to weed out transactions that may be driven purely by the desire to avoid tax.
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USTR Lauds Progress By COMESA On African Regional Economic Integration
14/04/2008 |
At a meeting last Thursday with a delegation from the Common Market for Eastern and Southern Africa (COMESA), Deputy US Trade Representative John K. Veroneau commended COMESA’s work in advancing economic integration in sub-Saharan Africa.
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STORY
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South Africa Revises Film And TV Production Incentives
09/04/2008 |
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South African Trade and Industry Minister Mandisi Mpahlwa has officially launched a revised film and television production incentive regime, intended to improve location competitiveness for filming in South Africa.
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South African Revenue Collections Exceed Targets
03/04/2008
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The robustness of the South African economy and the efficacy of its fiscal institutions have once again been confirmed by the revenue collection efforts of the South African Revenue Service (SARS) in the fiscal year 2007/08, according to Finance Minister Trevor Manuel.
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STORY
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Australia And South Africa Update Tax Treaty
02/04/2008 |
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Australia and South Africa have signed a new protocol to revise the tax treaty between the two countries agreed in 1999, Australia's Assistant Treasurer, Chris Bowen, announced on Tuesday.
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South African Budget Bill Closes Corporate Tax Loophole
21/03/2008 |
South African Finance Minister, Trevor Manuel has laid before parliament the first of several bills giving effect to measures he announced in the budget speech last month, while also closing a popular corporate tax 'loophole'.
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Investors Should Look Beyond BRIC Countries, Says PwC
10/03/2008 |
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A report published by PricewaterhouseCoopers on Tuesday has suggested that investors need to look beyond the BRICs (Brazil, Russia, India and China) for future growth opportunities.
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South Africa To Introduce Venture Capital Tax Incentives
25/02/2008 |
The South African government has proposed new tax incentives for investors in small companies and start-ups, in an attempt to encourage the country's private equity industry to back early stage projects.
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STORY
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South African Budget Cuts Corporate Tax, Phases Out STC
22/02/2008 |
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A 1% cut in corporate tax, and confirmation that the Secondary Tax on Companies (STC) will be replaced with a withholding tax on dividends were the key features of the 2008 South African government budget, announced by Finance Minister Trevor Manuel on the 20th February.
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Analysts Expecting South African Corporate Tax Cut
14/02/2008 |
Analysts and tax experts are expecting South African Finance Minister Trevor Manuel to cut the rate of corporate income tax in the government's 2008 budget, which is due to be announced on 20th February.
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SEC Hosts Meeting of Emerging Market Securities Regulators
14/02/2008 |
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The US Securities and Exchange Commission announced on Tuesday that it had held its first Emerging Markets Conclave with heads of securities regulators from Brazil, China, South Africa and South Korea.
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PwC Survey Sheds Light On South Africa's Real Company Tax Burden
12/02/2008 |
A study of taxes paid to the South African government by companies has found that, like many other jurisdictions, corporate tax is only a relatively small part of the total tax contribution of the corporate sector to the fiscus.
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South Africa Mulls Changes To VAT, Transfer And Stamp Duty Acts
11/02/2008 |
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The Tax Policy Unit, National Treasury of South Africa and the South African Revenue Service (SARS) are carrying out a study to inform government policy on the economic, administrative and legislative implications resulting from the interaction between the VAT, Transfer Duty and Stamp Duty Acts, it has been announced.
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South Africa Simplifies VAT Registration Process
05/02/2008 |
The South African Revenue Service (SARS) has announced the introduction of a simplified and streamlined VAT registration process, which came into effect on 1st February.
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SARS Receives Record Number Of Income Tax Returns
31/01/2008 |
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The South African Revenue Service (SARS) has received a record of more than 3 million income tax returns as part of the 2007 Filing Season.
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OECD Tax Administrators To Meet In South Africa
09/01/2008 |
The fourth meeting of the Forum of Tax Administrators (FTA), a forum of the Organisation for Economic Co-operation and Development (OECD) will commence later this week in South Africa, with a special focus to be placed on improving tax administration among African governments.
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New Mexican Tax Will Qualify For Tax Credits
21/12/2007 |
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Concerns that payments under the new Mexican Alternative Minimum Tax (IETU)
may not be accepted as foreign tax credits have now been largely allayed. Mexico
has announced a long list of countries which have said they will allow these
AMT credits under the relevant Double Tax treaties.
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SARS Settles Tax Dispute With Nampak
14/12/2007 |
The South African Revenue Service and Nampak, Africa's largest packaging company, have announced that a two-year tax dispute relating to an acquisition made by the company five years ago has been resolved.
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