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Year-end Tax Update

November 18 @ 9:00 am - 1:00 pm

The year-end update is one of the most important updates for tax practitioners and taxpayers. In this year’s update, Nico Theron from Unicus Tax Specialists SA will cover a selection of important court judgments, rulings (in particular, Binding General Rulings) issued by SARS during the year, regulations and notices issued, as well as some of the important proposed amendments to tax legislation in this year’s round of amendments.

Case law
14426 (13 December 2018): Whether the Appellant was entitled to an employment tax incentive deduction
XYZ CC v CSARS (ITC13868): Application in terms of rule 56(1)(b) of the Rules of the Tax Court for default judgment against the taxpayer in terms of section 129(2) of the TAA
Purlish Holdings v CSARS (76/18) [2019] ZASCA 04 (26 February 2019): Underestimation penalties
A Company v C:SARS IT 24510 [2019] ZATC 1 (17 April 2019): Gross income, gift cards and the Consumer Protection Act
Rampersadh and another v CSARS (5493/2017) [2018] ZAKZPHC 36 (27 August 2018): Section 93 reduced assessments requests
ABC (Pty) Ltd v CSARS 014287 (12 June 2019): Most favored nation clause in a DTA
BMW SA (Pty) Ltd v CSARS [2019] ZASCA 107: Fringe benefits
Gold Kid Trading CC v CSARS (31842/2016; 40732/2017) [2018] ZAGPJHC 679 (21 October 2018): PAJA applications versus Tax Court and exhausting internal remedies first
CSARS v Atlas Copco South Africa (Pty) Ltd (834/2018) [2019] ZASCA 124 (27 September 2019): Valuation of trading stock at year-end
Rulings
Binding General Ruling 50: No-value provision in respect of the rendering of transport services by an employer
Binding General Ruling 49: Supply and importation of sanitary towels (15 March 2019)
Binding General Ruling 51: Cancellation of registration of a foreign electronic services supplier
Draft Binding General Ruling: Determination of the threshold for applying the higher rate of donations tax
Binding Private Ruling 323: Debt reduction by means of set-off
Draft amendment Bills
Draft Taxation laws Amendment Bill
Proposed amendments to the Income Tax Act:
Section 7B: Extending the scope of variable remuneration in 7B
Section 24BA and 40CA: Anti-avoidance rules associated with value shifting
Section 12J: Venture capital company investment limit
Section 24O: Interest deductions for shares acquired
Section 31: Broadening the scope of transfer pricing
Paragraph 43A and section 22B: Dividend stripping rules extended to cater for dilutions as opposed to disposals
Proposed amendments to the VAT Act:
Section 8(25): Going concern issues associated with corporate roll-over provisions and fixed property
Section 72: Arrangements to overcome difficulties, anomalies and incongruities
Proposed amendments to the Employment Tax Incentive Act
Section 4: Bringing ETI in line with the National Minimum Wage Act.
Draft Tax Administration law Amendment Bill
Proposed amendments to the Income Tax Act:
Sections 50E, 49E, 64G: Alleviate admin burden for certain recurring royalties, interest and dividends paid to non-residents
Paragraph 20 of the 4th schedule: Provisional tax returns on date of death and underestimation penalties
Proposed amendments to the Tax Administration Act:
Section 11: Notice to institute proceedings in the High Court – period extended
Section 256: Legislating a minimum amount that can be outstanding before a TCC will be rejected
Notices and regulations
Notice published in terms of section 210(2): Penalties for corporates for failure to submit a return
Regulation R.429, published in Government Gazette 42316: Prescribing electronic services

COSTS

Seminar:
SAIT members: R1 295
Other members: R1 595
Printed notes: R50

Webinar:
SAIT members: R480
Other members: R575
Company Price: R950

CPD

Seminar:
4 hours
verifiable output Tax CPD

Webinar:
4 hours
verifiable output Tax CPD

DATES

11 Nov | Port Elizabeth
12 Nov | Durban
13 Nov | Cape Town
18 Nov | Kempton Park
20 Nov | Johannesburg
21 Nov | Pretoria
26 Nov | Webinar

Seminar Times:
09:00 – 13:00

Webinar Time:
09:00 – 13:00

Details

Date:
November 18
Time:
9:00 am - 1:00 pm
Event Category:
Website:
https://cpd.taxfaculty.co.za/events/2019-year-end-tax-update

Organizer

Tax Faculty
Phone:
0129410400
Email:
cpd@taxfaculty.co.za
Website:
https://sait.site-ym.com/events/EventDetails.aspx?id=947838&group=

Details

Date:
November 18
Time:
9:00 am - 1:00 pm
Event Category:
Website:
https://cpd.taxfaculty.co.za/events/2019-year-end-tax-update

Organizer

Tax Faculty
Phone:
0129410400
Email:
cpd@taxfaculty.co.za
Website:
https://sait.site-ym.com/events/EventDetails.aspx?id=947838&group=