South Africa: SARS issues ruling on MFN clause in a treaty with Sweden
On 1 March 2017, the South African Revenue (SARS) issued a private binding ruling no. BPR 267 regarding dividends tax and the ‘most favoured nation’ clause in a tax treaty concluded with Sweden. The ruling determines whether dividends tax must
See MoreSouth Africa: National Treasury consults on sugar tax amendments
Proposed changes to the tax on sugar-sweetened beverages (SSBs) were introduced in the recently announced 2017-18 Budget. The South African National Treasury has issued a list of questions and answers on the changes to the proposed tax. The National
See MoreSouth Africa: Government increased the rate of dividends withholding tax (DWT) from 15% to 20%
The 2017 Budget Speech delivered by Minister Gordhan on 22 February 2017 increased the rate of Dividends Withholding Tax (DWT) from 15% to 20%. To reduce the difference between the combined statutory tax rate on dividends and the top marginal
See MoreSouth Africa: Transfer pricing proposals in 2017 budget
The Finance Minister of South Africa on 22 February 2017 delivered the budget speech to Parliament. In his speech the Minister mentioned the government’s plan for implementing a statutory transfer pricing regime in South Africa. The government
See MoreSouth Africa: Finance Minister presents the Budget for 2017-2018
The Finance Minister of South Africa presented the Budget for 2017-18 to the Parliament on 22 February 2017. The main tax proposals of the Budget are given below. The 2017/18 tax year sees the introduction of a new top marginal income tax bracket
See MoreSouth Africa: SARS issues rulings on employees’ tax and VAT treatment of non-executive directors
The South African Revenue Service (SARS) issued Binding General Ruling (Income Tax) 40 and Binding General Ruling (VAT) 41 on 10 February 2017. Binding General Ruling (Income Tax) 40 clarifies the employees’ tax consequences of income earned by
See MoreSouth Africa: SARS publishes revised capital gains tax guide
The South African Revenue Service (SARS) has released a revised tax guide regarding capital gains tax (CGT). The tax guide provides guidance on CGT for companies and individuals for the 2017 year of assessment (YA), which covers the period from
See MoreSouth Africa: TIEA agreement expected to be entered into force with Saint Kitts and Nevis
The Tax Information Exchange Agreement between South Africa and St. Kitts and Nevis is expected to be entered into force on 18 February 2017, following publication in the Official Gazette of the Republic of South Africa on 10 February
See MoreSouth Africa: SARS issues tax exemption guide for public benefit organization
The South African Revenue Service (SARS) has issued a tax exemption guide on the income tax exemption for a public benefit organization (PBO) carrying on a public benefit activity (PBA). The guide provides general guidance on approval and taxation
See MoreSouth Africa-Zimbabwe DTA enters into force
The Double Tax Agreement (DTA) between South Africa and Zimbabwe entered into force on 1 December 2016, following publication in the Official Gazette of the Republic of South Africa on 27 January 2017. The agreement will be applied from 1 January
See MoreSouth Africa: SARS issues final regulations on country-by-country (CbC) reporting
The South African Revenue Service has issued final regulations on country-by-country (CbC) reporting on 23 December 2016. The regulations specify the changes to the Country-by-Country Reporting Standard for Multinational Enterprises (“MNEs”)
See MoreSouth Africa-Singapore tax treaty (2015) entered into force
The Income Tax Treaty between South Africa and Singapore entered into force on 16 December 2016. The treaty generally applies from 16 December 2016 for tax matters relating to the exchange of information and from 1 January 2017 for withholding and
See MoreSouth Africa-United Arab Emirates tax treaty entered into force
The Income Tax Treaty between South Africa and United Arab Emirates entered into force on 23 November 2016. The treaty generally applies from 1 January
See MoreSouth Africa: SARS finalized additional transfer pricing documentation rules
The South African Revenue Service on 28 October 2016 published a final notice regarding additional transfer pricing documentation requirements for companies with cross-border related-party transactions exceeding R100 million. Once the R100 million
See MoreSouth Africa: SARS published Transfer Pricing documentation proposal for public comments
The South African tax authorities published for public comments a Draft Notice on additional Transfer Pricing record-keeping requirements. Where a person has entered into a potentially affected transaction, the aggregate of the transaction for the
See MoreSouth Africa: National Treasury released explanatory memoranda on proposed changes to tax laws
The National Treasury released the Explanatory Memorandum and the Memorandum on Objects (the Memoranda) on the proposed amendments contained in the draft Taxation Laws Amendment Bill (TLAB) 2016 and the Tax Administration Laws Amendment Bill
See MoreSouth Africa: SARS introduced certain changes to the Income Tax Return for Companies (ITR14)
The South African Revenue Service (SARS) introduced certain changes to the Income Tax Return for Companies (ITR14) on 18 April 2016. Changes include the expansion of information required in relation to transfer pricing transactions. ITR14 increasing
See MoreSouth Africa: SARS publishes draft regulations concerning CbC reporting standard for MNEs
The South African Revenue Service (SARS) on 11 April 2016 published draft regulations concerning a country-by-country (CbC) reporting standard for multinational enterprises. South African MNEs with annual group consolidated turnover exceeding ZAR
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