Corporate Tax
Interpreting Annual Financial Statements: Tax Pitfalls and Opportunities
Duration: 2 hours
Price: R495.00
Title / Topic
Interpreting Annual Financial Statements: Tax Pitfalls and Opportunities
Presenters : Johan Heydenrych
Overview
In this practical and informative recording, we will analyse a sample of publicly available financial statements and consider the tax risks and opportunities that reveals itself from a careful analysis of the annual financial statements.
Recording content
We will discuss the following:
- The importance of the directors’ and governance reports.
- Expected tax risks and opportunities depending on the industry in which the company operates.
- Tax risks flowing from funding mechanisms’ including shareholder loans, external funding, and different classes of share capital.
- Transfer pricing, dividend tax and interest limitation rules.
- Overview of current and non-current assets and impact on income tax, VAT and PAYE.
- Overview of current and non-current liabilities and impact on income tax, VAT and PAYE.
- Review of deferred tax make up.
- Overview of auditor’s report and impact of qualifications on ITR14.
- Items to be on the lookout for and the detailed income statement.
- The notes to the annual financial statements, contingent liabilities and IFRIC 23 disclosures.
Competencies developed in this CPD
After attending this recording, you will be able to:
- Review completeness and accuracy of tax disclosures in annual financial statements.
- Prepare and submit ITR14’s and IRP6’s.
- Performing tax due diligences.
- Deal with dispute resolution.
- Assist with tax implications of business rescue initiatives.
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