ENSafrica provides a snapshot of the latest tax developments in South Africa.
Case law
Tax Court, Cape Town: IT 13193
Tax Court, Johannesburg: IT 13492
Tax Court, Johannesburg: IT 13863
Tax Court, Cape Town: IT 14218
Tax Court, Cape Town: IT 14264
SARS publications
The South African Revenue Service (SARS) has issued a public notice stating that non-compliance by persons required to submit a country-by-country report, master file and local file will be subject to a fixed-amount penalty in terms of section 211 of the Tax Administration Act, 2011
Exchange control
Exchange Control Circular No. 8/2018: Authorised Dealer in foreign exchange with limited authority notification regarding Hello Paisa (Pty) Limited
Exchange Control Circular No. 9/2018: amendments to the Currency and Exchanges Manual for Authorised Dealers
International
The Organisation for Economic Co-operation and Development invites public comments on the scope of the future revision of chapter IV (administrative approaches) and chapter VII (intra-group services) of the Transfer Pricing Guidelines
Rwanda promulgates new Income Tax Law (Law No. 016/2018 of 13 April 2018) effective as of 16 April 2018. The following provisions are particularly relevant in a cross-border context
Other important developments
The South African Revenue Service (SARS) has updated the table of interest rates charged on outstanding taxes, duties and levies and interest rates payable in respect of refunds of tax on successful appeals and certain delayed refunds
SARS has updated the table of interest rates payable on credit amounts (overpayment of provisional tax) under section 89quat(4) of the Income Tax Act, 1962
