Monthly SARS and Tax Update - October 2023
Presenters : Prof. Jackie Arendse
Overview
Our monthly SARS and Tax Update will bring you up to speed with ongoing South African tax environment developments. This month, Prof Jackie Arendse will be highlighting:
- Case law:
- SCA: CSARS v Absa Bank Ltd and Another SCA 29 Sept 23 - GAAR provisions in ss 80A – 80L of the Income Tax Act, 1962; and s 105 of the Tax Administration Act, 2011.
- Constitutional Court:
- Sasol Chevron Holdings Limited v CSARS (CCT 149/22) [2023] ZACC 30 (3 October 2023) - Promotion of Administrative Justice Act 3 of 2000 (PAJA) – delay in instituting application for review – s 7(1) of PAJA – 180-day period – leave to appeal refused.
- Nu Africa Duty-Free Shops (Pty) Ltd v Minister of Finance and Others; CSARS v Ambassador Duty-Free (Pty) Ltd and Others; Minister of Finance v Ambassador Duty-Free (Pty) Ltd and Others (CCT 29/22; CCT 57/22; CCT 58/22) [2023] ZACC 31 (3 October 2023) - Customs and Excise Act 91 of 1964; Value-Added Tax Act 89 of 1991 – Constitutionality of s 75(15)(a)(i)(bb) of the Customs Act and s 74(3)(a) of the VAT Act; s 77 of the Constitution; setting aside of assessments.
- Tax foundations:
- The principles of deductibility of interest – how is s 24J applied; what is the role of s 11; how did Practice Note 31 apply; and what is the way forward with the proposed amendment introducing s 11G?
- SARS documents and notices:
- Basic Guide to Section 18A Approval (Issue 5
- Interpretation Note 51 (Issue 6) – Pre-trade expenditure and losses.
- And any other new developments that arise.
Competencies developed in this video
- Updated with important and current changes in tax legislation and SARS practice.
- Competent in applying the key aspects of new SARS documents published (i.e. binding rulings, interpretation notes, SARS guides/notices, etc.)
- Competent in advising clients about the impact of the latest tax amendments on their tax compliance and planning opportunities.
- Able to train your staff to prepare SARS-compliant tax returns considering the latest amendments and SARS practice.
- Informed about topics to include in a client communique to alert your clients about recent developments impacting their tax compliance and planning opportunities.
- Competent in revising the tax planning strategy of clients.
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