Offshore tax planning options for a SA tax resident

Overview

Many South African residents want to make use of tax planning options to minimize their South African tax consequences.  Proper structuring is necessary to ensure that the most efficient options are made use of. If not, taxpayers might be faced with problems and unexpected tax consequences in future.  Structuring should not only take the current tax savings and benefits into account when structuring, but also the future tax that could arise in subsequent periods.  A holistic and long-term perspective is important in choosing the best tax planning option.

The second webinar in this series of three webinars will be taking place on 3 June 2020.  The webinar will focus on the process of setting up an active trading, consulting or IP exploitation business (or an extension of an existing South African business) outside of South Africa. The issues that will be covered in this webinar are:

• The importance of a commercial main objective in dealing with the South African General Anti-Avoidance Rules
• Using a “building blocks” approach in starting a legal structure, balancing cost and practicalities with the tax benefits and risks
• The importance and practical challenges of ensuring that the “Place of Effective Management” of the business occurs outside of South Africa
• Dealing with Controlled Foreign Company rules
• The critical issue of creating foreign based substance and value added activity and the application of transfer pricing rules
• Ensuring that no “Permanent Establishment” of the foreign business exists in South Africa
• The role and benefits of Double Taxation Agreements and the effect of the Multi-Lateral Initiative, using Mauritius as an example
• Some important South African Exchange control restrictions and rules, particularly regarding the exportation of capital from South Africa

Presenter

Mark Andrew Korten (B.Comm. LLB. H.Dip Tax)

Mark Korten was admitted as an attorney of the High Court of South Africa in the Division of the Northern Provinces in 1996. He practised as a commercial and tax partner at various South African law firms for 13 years before moving to Mauritius where for the last 10 years he has acted as an independent legal advisor on financial, tax and commercial issues relating to cross border transactions in sub Saharan Africa with a focus on South Africa and Mauritius, and concentrating on the African and European focussed activities related to licensed fund management, international investment, labour broking, immoveable property investment and management, and construction activities. Mark was the second foreign lawyer to be registered in Mauritius in 2010 when he was a consultant to the Eversheds, being the first foreign law firm to be registered in Mauritius.

CPD

This event and successful completion of the online assessment will secure 2 hours verifiable output Tax CPD points.

Event Pricing

This webinar does not form part of any CPD subscription package.

Other members: R575.00

Company Price: R950.00