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Current Issues Facing Corporate Taxpayers 2021

Overview As we all know, tax is a constantly evolving space where no two tax returns will ever look the same. One’s approach in corporate tax cannot be stagnant and must include preparation for potential bumps in the road, detours necessary, dead ends ahead and making U-turns. Course content The aim of this session is to look at current hotspots for corporates, including: Proposed changes to corporate restructuring rules. Progress on the proposed interest deduction limitation. Changes to the IT14 and how this would impact reporting. A reminder of the tax responsibilities of representative taxpayers. While this session will look at some of the detail surrounding the IT14, it is primarily aimed at tax professionals who are responsible for the tax affairs of companies


4 Hours | R575.00
Carmen Westermeyer

Webinar: Monthly Tax Update - January 2021

Overview Does it feel like the tax rules are changing by the minute and that it’s difficult to keep abreast of changes? It’s crucial for tax professionals to be informed and well-rounded. Our monthly tax update will bring you up to spe ed with the recent developments in the tax environment. Each monthly tax update brings you the latest tax news, highlighting: The latest case judgments. The most recent changes in tax legislation. The key aspects of recent SARS documents published such as rulings, interpretation notes, notices, etc. Relevant tax news. And any other recent developments.


2 Hours | R475.00
Prof. Jackie Arendse

Debt restructuring and corporate reorganisations - Full Series

Overview During the course of August to November 2020, three senior tax professionals from Bowmans Gilfillan will anchor four interactive webinar sessions on the practical application of tax law relating to debt restructuring and corporate reorgan isations. The sessions will also include an interactive debate on key themes emanating from conducting tax due diligences. They will share past experiences and knowledge, invite commercial specialists and will consider the tax and commercial impact of Covid-19, particularly as it relates to distressed companies. The webinar series aims to provide participants with a sense of the typical commercial drivers and the tax principles that play a role in these topics. Delegates will have the opportunity to submit questions which will be addressed during the live Q&A section at the end of each session. Delegates will earn two hours verifiable CPD for each session. 1. Debt Restructuring (25 August) The session will start with a snapshot of the current debt restructuring landscape in South Africa and abroad. Debt restructuring needs to be undertaken in an effective manner so as not to inadvertently trigger a tax liability that will add to a debtor’s financial woes. It can be difficult to manoeuvre the taxing provisions that potentially apply to a debtor. The presenters will consider how to best manage the debt benefit taxing provisions in different scenarios. Equally important is the creditor’s position, in particular, its ability to claim an income tax deduction or capital loss. 2. Corporate Reorganisations (21 September) The session will introduce you to the Corporate Reorganisation tax rules. The corporate tax rollover relief provisions enable the tax neutral transfer of assets to companies and defer the potential tax liability. A transaction needs to have certain characteristics for the relief to apply. Over the course of two sessions, the presenters will explore the nuances of each type of transaction that qualify for tax rollover relief. In the first session, the following transactions will be discussed in detail: The acquisition by a company of assets in return for the issue of shares (“asset-for-share transactions”). Transactions within the same South African group of companies (“intra-group transactions”). Commercial themes, particular to each type of transaction, will be blended with the tax technical analysis. 3. Corporate Reorganisations (continued - 22 October) In the second session on corporate reorganisations, the presenters will continue to explore the types of transactions that can qualify for tax rollover relief: The amalgamation or merger of companies, implemented as a sale of business or in terms of the statutory merger provisions of the Companies Act (“amalgamation transactions”). The distribution of underlying share investments (“unbundling transactions”). The distribution of all assets in anticipation of liquidation/deregistration (“liquidation distribution”). Against the backdrop of the various types of transactions, the team from Bowmans will provide a bird’s eye view of the provisions to identify common threads that may result in some provisions being more preferable than others depending on the circumstances. 4. Due Diligence (25 November) Due diligence procedures are usually undertaken by acquirors of companies, or companies whose shareholders’ wish to exit. A tax due diligence is a complex and sophisticated undertaking requiring both tax law and financial statement disclosure experience. This session will explore various facets of a tax due diligence and will be presented by specialists in this field with many years of experience. Some of the areas of discussion will include: The different approaches required in different types of due diligences. A solid starting point – how to scope and plan for a due diligence. Access to information – virtual data rooms, information request lists, key questions to ask. Assessing the information – typical issues to watch out for and tried and tested methodologies. Consideration of practical examples from previous experiences. Impact of due diligence outcomes on a deal. Guest speakers from across the continent will provide an African perspective. Presenter MICHAEL RUDNICKI Executive: Tax - Bowmans CA (SA), BCom , BCompt (Hons), BCom (Hons)(Taxation), MCom (Tax) Michael Rudnicki is an executive in Bowmans’ corporate department and a member of the Johannesburg office tax practice. Michael has in excess of 20 years’ tax experience and specialises in banking and financial services, mergers and acquisitions, private equity, executive incentive schemes and general corporate tax. In the financial services sector, he has consulted to most of the local and international banking institutions in relation to balance sheet aspects such as financial instruments and derivatives, working with their in-house mergers and acquisitions and corporate finance teams. His clients include Barclays, Nedbank, Investec, Standard Bank, JP Morgan, UBS and Transaction Capital. Michael has a specific interest in the taxation of financial instruments and derivatives and has presented on numerous occasions on this subject at universities. He has also given public lectures and has appeared on radio and television programmes. Michael has been involved in many large mergers and acquisitions projects and has consulted to many of South Africa’s leading private equity firms as well as international private equity firms with investments in Africa. His experience includes fund establishment, acquisition assistance and modelling, due diligence (acquisitions and disposals), as well as implementation and post deal implementation assistance and exit readiness. His experience in the private equity sector extends beyond tax advice and includes deal origination and deal sourcing. He also assisted SAVCA in the preparation of its annual private equity survey. Michael advised on the acquisition by ABSA Bank of Barclays Africa, the recent acquisition by RPC of Astrapak as well as the acquisition of McDonalds South Africa. Michael’s private equity clients include Rockwood, Harith, Ethos, Actis, Medu Capital, Capitalworks, DPI, Investec PE and RMB Corvest. He has appeared on many media platforms speaking about his experience and current trends in the local and international private equity market. RONé LA GRANGE - Partner - Bowmans BLC, LLB, LLM (Tax), Dip. (Company law), Dip. (Fin. Markets) Roné la Grange is a partner in Bowmans’ corporate department and a member of the tax practice. Roné has over 19 years of corporate tax experience with significant involvement in financial services tax matters in key sectors such as banking, insurance and private equity. Her expertise also extends to exchange-traded funds, collective investment schemes, hedge funds, property funds and treasury operations. Roné is skilled in conceptualising, implementing, and the tax administration of both executive and broad-based share incentive plans. She has consulted on a wide range of corporate tax matters, including but not limited to the implementation and collapse of black economic empowerment transactions, group restructures, management buy-outs, debt restructuring, private equity fund structures, employee equity incentives, finance and investment structures. She has experience in tax due diligences, obtaining tax rulings, objection and appeals, settlement negotiations and general tax compliance. MOGOLA MAKOLA - PARTNER - BOWMANS BA, LLB, LLM Mogola Makola is a partner in Bowmans’ corporate department and a member of the tax practice. She specialises in domestic and international tax, with a specific interest in the financial services and private equity sectors. Mogola’s experience covers both South African and international tax. She has advised on major mergers and acquisitions transactions and has experience in advising on the tax structuring of offshore investments, derivative trades, investments in a private equity funds, securities lending transactions, private equity fund formations and tax structuring. In addition to advising clients, Mogola also assists clients in tax disputes. Her experience includes advising Shanduka Group Proprietary Limited, VSNL SNOSPV Pte Limited, Morrison & Foerster LLP (US counsel to underwriters Raymond James & Associates, Inc. and William Blair & Company, LLC) and various domestic and foreign financial clients on their business activities in South Africa.


8 Hours | R1710.00

2020 Venture Capital Companies – To Invest or Not to Invest

Section 12J of the Income Tax Act, albeit a very short section, is quite complicated when unpacking its working. To date, taxpayers have invested R10 billion into section 12J companies and it has proved to be a very popular investment vehicle. So, th e question is: How does section 12J actually work and what does one have to know before embarking on the journey of investing in these vehicles?


1 Hours | R475.00
Jeff Miller

High-Net-Worth Individual 2020

Overview You might be wondering: What is National Treasury and SARS doing to manage this base erosion and what new revenue streams or focus areas will they introduce in order to make up for this loss? The following question might be at the back of your mind: What tax and emigration considerations would these high-net-worth families leaving South Africa need to take and what are the tax consequences for the remaining wealthy families? Course Content In this webinar, we unpack and explore the following key questions and issues: Qualifying as a high-net-worth individual. Recap of the concepts of resident and non-resident. Family trusts and other topical tax implications for the high-net-worth individual. Tax emigration options post-financial emigration “switch off”. Tax emigrated – are you now tax and estate duty-free? Or estate duty, the expats conundrum. Investor visa tax benefits – why the new foreign tax-free life is tax costly in SA. The South African Trust – now a foreign or offshore trust subject to anti-avoidance rules. Recent developments will be unpacked, including amendments in the draft tax legislation regarding the three-year rule, Excon changes regarding loop structures, tax treaty provision, USA throwback tax and UK/AUS anti-avoidance rules against tax immigrant funders.


2 Hours | R475.00
Doné Howell MTP (SA), Hugo van Zyl

2020 New webinar series Debt restructuring and corporate reorganisations (4 of 4)

Due diligence procedures are usually undertaken by acquirors of companies, or companies whose shareholders’ wish to exit. A tax due diligence is a complex and sophisticated undertaking requiring both tax law and financial statement disclosure e xperience. This session will explore various facets of a tax due diligence and will be presented by specialists in this field with many years of experience. Some of the areas of discussion will include: The different approaches required in different types of due diligences. A solid starting point – how to scope and plan for a due diligence. Access to information – virtual data rooms, information request lists, key questions to ask. Assessing the information – typical issues to watch out for and tried and tested methodologies. Consideration of practical examples from previous experiences. Impact of due diligence outcomes on a deal. Guest speakers from across the continent will provide an African perspective.


2 Hours | R475.00
Michael Rudnicki CA(SA), Mogola Makola, Roné La Grange
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