International Tax
Understanding Interest and Forex in Tax: Sections 24I, 24J, and 25D in Practice
Duration: 2 hours
Price: R195.00
Title / Topic
Understanding Interest and Forex in Tax: Sections 24I, 24J, and 25D in Practice
Presenters : Carmen Westermeyer
Overview
International trade is a fact of life, and with it comes the need for cross-border financing. The use of multiple currencies adds complexity to financial reporting. Are you confident that your transactions are being reported correctly for tax purposes? How does the accrual process in section 24J interact with the translation rules in sections 24I and 25D?
This session aims to explore how the rules relating to interest calculations and foreign currency translations work together in a tax context.
Video Content
- What are the accrual rules for interest? In other words, when should interest be recognised for tax purposes?
- At what rate should interest be translated and declared in the tax computation?
- How do these rules apply when translating closing balances?
Competency Development
- Understand the timing rules in section 24J for interest recognition
- Understand the fundamental rules in sections 24I and 25D for foreign currency translation
- Learn how to correctly translate interest and loan balances