Managing Corporate Income Tax

Overview

The primary responsibility of the tax practitioner with regard to the submission of the IRP 6, ITR14 and IT14SD is to ensure that complete and accurate information is submitted to SARS and that defendable positions are taken whenever Uncertain Tax Positions arise.

This course is directed to assist the tax practitioner and his/her client to ensure that corporate income tax returns are submitted in such a manner as to create tax certainty, reduce the risk of understatement and underestimation penalties and to anticipate SARS requests for information and audits. A pro-active approach to IRP 6, ITR 14 and IT 14SD’s will facilitate the dispute resolution process.

Course Content

The course is developed to assist the tax practitioner in exercising due diligence when preparing the IRP 6, the ITR14 and the IT 14SD. The course will be case study based and learning will occur on a practical and interactive basis.

The course will be structured around the following elements of the Annual Income Tax Lifecycle:

Topics covered will include the following:

• What is Tax Management?
• Importance of ERP systems and “shadow tax teams” in managing taxes.
• IRP 6 preparation
  • Practical examples and par19(3) queries.
  • Avoiding underestimation penalties.
  • Complying with Covid-19 dispensations on provisional tax.
• Annual Financial Statement disclosures and interpretation
  • Relevance and importance of deferred tax and tax rate reconciliations
  • Uncertain tax positions, contingent tax liabilities and tax risk provisions
  •  Interpreting Annual Financial Statements – a practical approach with example.
• •    Review and preparation of the ITR 14
  • Understanding “Yes”/”No” questions
  • Understanding the reasons for connected party disclosures and the importance of full and accurate disclosure
  • Tax technical analysis of tax pitfalls and opportunities, including but not limited to:
• Concept of Contributed Tax Capital
• Capital allowances
• Leasehold Improvements
• Repairs and maintenance
• Provisions and accruals
• Consulting Fees, Legal Fees and audit fees
• Government Grants and subsidies and anti-double dipping legislation.
• Connected party disclosures
• Section 18A and Learnership allowances
• Section 11A pre-trade expenses
• Trading Stock
• Section 11(j) doubtful debt allowances and Section 11(i) bad debts.
• Approach to preparation of IT 14SD (excl Customs)
  • PAYE reconciliation
  • VAT Output reconciliation
  • VAT Input Reconciliation
• How to deal with a SARS Request for Information.
• How to deal with a SARS Audit.
• How to deal with objection and appeals.

Dates

This webinar will be taking place on the following three dates. The same content will be covered in all sessions.

• 13 May

• 20 May

• 27 May

Presenter

Johan Heydenrych

Johan has specialised in taxation since 1991 and became a tax partner at a Big Four Firm in 1997.
Since March 2020, he provide independent tax consulting services and focus on the provision of training courses to clients and tax professionals.
Johan has 30 years experience in providing tax consulting services in the area of Corporate Tax, Value-added Tax and Remuneration planning. He regularly present tax courses to clients and organisations on VAT, Income Tax and Employment Taxes. His MCom thesis entitled “A critical analysis of VAT at local authorities” assisted me in achieving this Masters degree cum laude.

Area of Expertise

Corporate Tax, Value-added Tax, Employment Tax, Tax Accounting, Tax Process and Technology

Education and Qualifications

• B. Com (Accounting) (Cum Laude)
• B. Com (Accounting) (Hons) (Cum Laude)
• Certificate in the Theory of Accounting
• M. Com (Taxation) (Cum Laude)
• Chartered Accountant (Specialising in Taxation) Member of SAICA and IRBA
• Registered Tax Practitioner

CPD

This event and successful completion of the online assessment will secure 4 hours verifiable output Tax CPD points.

Event Pricing:

100% discount for General Tax Practitioner and Tax & Accounting CPD subscribers. Not a CPD subscriber yet? Click here to register now.

Other members: R575.00
Company price: R950.00

Payments & Cancellations

• All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.

• Kindly note that should payment not been received 2 days after the event, legal action will be taken

• Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.

• Only written notice of cancellation will be recognised.

• Cancellation Conditions:

  • If the cancellation occurs more than 4 working days prior to the event no cancellation fee will be charged.

  • If the cancellation occurs less than 4 working days prior to the event a 100% cancellation fee will apply.

• Delegates who book and fail to attend will be liable for the full event fee.

• SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.

• Please click here for the full terms and conditions.