Monthly SARS and Tax Update - March 2023
Presenters : Prof. Jackie Arendse
Overview
Our monthly SARS and Tax Update will bring you up to speed with ongoing developments in the South African tax environment. This month, prof Jackie Arendse will be highlighting:
- Latest tax judgements:
- SCA: CSARS v Coronation Investment Management SA (Pty) Ltd (1269/2021) [2023] ZASCA 10 (07 February 2023).
- Income Tax Act, 1962, and Tax Administration Act, 2011.
- Section 9D exemptions – whether a ‘controlled foreign company’ is a ‘foreign business establishment’ as defined, understatement penalties.
- High court:
- Lance Dickson Construction CC v CSARS (A211/2021) [2023] ZAWCHC 12 (31 January 2023).
- IT 45997 (29 December 2022), impermissible new ground of appeal.
- New SARS documents:
- Binding General Ruling 28 (Issue 3) – Value-Added Tax Act: Specific requirements relating to credit and debit notes, exchange rates, and advertised or quoted prices.
- And any other new developments (other than relating to the 2023 Budget Speech).
Competencies developed in this video
- Updated with important and current changes in tax legislation and SARS practice
- Competent to apply the key aspects of new SARS documents published (i.e. binding rulings, interpretation notes, SARS guides/notices, etc.)
- Competent to advise 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 you clients about recent developments impacting their tax compliance and planning opportunities.
- Competent to revise the tax planning strategy of clients.