ENSafrica provides a snapshot of the latest tax developments in South Africa.

 

Case law 

  • Tax Court, Johannesburg: IT 13251 & VAT 1077
  • Tax Court, Megawatt Park: IT 13626

Advance tax rulings 

  • Binding Private Ruling 303: tax implications of a group restructuring

SARS publications

  • The South African Revenue Service (SARS) publishes Public Notice 600 in the Government Gazette 41704 in terms of section 25 of the Tax Administration Act, 2011 (TAA) read with section 66 of the Income Tax Act, 1962 (ITA), specifying persons to submit 2018 income tax returns and the periods for submission
  • SARS publishes the Guide to the Employment Tax Incentive (Issue 2)
  • SARS publishes draft dispute resolution rules in terms of section 103 of the TAA, concerning: the rules governing the procedures to lodge an objection and appeal against an assessment or decision under Chapter 9 of the TAA; procedures for alternative dispute resolution; and the conduct and hearing of appeals before a tax board or tax court
  • SARS publishes the updated table of average exchange rates of selected currencies for a year of assessment as from December 2003
  • SARS publishes the updated table of the monthly average exchange rates to assist a person whose year of assessment is shorter or longer than 12 months
  • SARS issues an updated list of jurisdictions contemplated in article 2(2)(ii)(b) of the Country-by-Country Regulations, being a jurisdiction in which the ultimate parent entity is resident for tax purposes and that has a treaty with South Africa for the exchange of tax information but does not have a qualifying competent authority agreement with South Africa
  • Interpretation Note 100: meaning of “extracted”

International 

  • The Mauritius Revenue Authority (MRA) issues notice that Foreign Account Tax Compliance Act (FATCA) information in respect of the 2017 financial year will have to be reported to the MRA by 31 July 2018 for onward transmission to the United States’ Internal Revenue Service
  • The Kenya Revenue Authority issues a notice on tax amnesty of taxable income earned outside Kenya for any year ending on or before 31 December 2016 and that the amnesty application period will end 30 June 2018

Other important developments  

  • The President of South Africa declares that the commission of inquiry into tax administration and governance by SARS will be subject to the provisions of the Commissions Act, 1947 and makes regulations with reference thereto

Discover more: ENSafrica tax revenews 

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Taxand's Take

Taxpayers across South Africa should take note of the updates mentioned to ensure they remain compliant.

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Article tags

International Tax | South Africa

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