Issued by PWC Multinational companies seeking to take advantage of the potential vast wealth in mineral rich Republic of Congo may be in for hefty costs of up to 40% if they do not consider the tax laws before entering into new business ventures, warns Professional Services Firm PwC. Elandre Brandt, International Tax Director and [...]
Multinational companies seeking investment opportunities in Congo may be in for hefty costs
July 16, 2012 By Leave a Comment
Tax on odd-lot offers
June 14, 2012 By Leave a Comment
www.moneywebtax.co.za Dear MoneywebTax Is capital gains tax payable on MMI’s odd-lot-offer? Dear MoneywebTax MMI Holdings Ltd has made an odd-lot offer to shareholders to clean up its share register. The circular to shareholders has a section on “Tax consequences for shareholders selling their shares in MMI in terms of the offer” which says: ”In general, the cash [...]
Implementing requirements for new dividends tax
May 3, 2012 By Leave a Comment
Statement from Sars issued by www.moneywebtax.co.za Pretoria, 25 April 2012 – Companies and regulated intermediaries that need to submit tax returns and make payments to the South African Revenue Service (Sars) for the new dividends tax have been able to do so from 20 April 2012. Sars eFiling or a Sars branch office may be [...]
Taxing Directors’ Loan Accounts
April 19, 2012 By Leave a Comment
www.taxationweb.co.uk Director’s loan accounts can incur significant tax cost for the unwary, warns Mark McLaughlin. Introduction HMRC seems to regard directors’ loan accounts (DLAs) as a ‘risk’ area, in which there is the potential for errors. Such is HMRC’s concern that they have produced a Directors’ Loan Accounts Toolkit, which provides guidance on the errors [...]
South Africa Issues Tax Guide For Shareholders
March 29, 2012 By Leave a Comment
by Lorys Charalambous, Tax-News.com, Cyprus The South African Revenue Service (SARS) has issued a new tax guide for shareholders, in which it attempts to provide general guidance for the increasing number of South Africans who have become owners of shares. In recent years, an increasing number of South Africans have become shareholders. With interest rates [...]
New dividend tax will have significant impact on companies, shareholders
January 26, 2012 By Leave a Comment
Issued by FTI Consulting – Strategic Communications Division on behalf of Grant Thornton South Africa Shareholders, trusts and companies need to ensure they are aware of the looming changes to dividends tax legislation as the new Dividend Withholding Tax (DWT) will be effective from 1 April 2012. “The new way dividends will be taxed can [...]
Nationalisation: Costs of state ownership are more than meet the eye
June 30, 2011 By Leave a Comment
Bobby Godsell, Chairman and Michael Spicer, CEO of Business Leadership SA, www.businessday.co.za LAST week the youth league of our country’s ruling party adopted two sets of policy proposals to shape our country’s future: nationalising the mines and expropriating without compensation. Below is a response focused on the proposal for mines nationalisation and the ideas associated [...]
Buy and sell agreements – CGT implications you may not be aware of
February 18, 2011 By Leave a Comment
By Tiny Carroll, estate planner, Glacier by Sanlam We regularly receive business assurance related queries and we have noticed that some of the capital gains tax (CGT) implications of buy and sell agreements are not well understood. What is a buy and sell arrangement? To avoid confusing terminology, the example used here will deal with [...]
Dividends tax means shareholders pay more tax
March 9, 2009 By Leave a Comment
Ernest Mazansky* Moneyweb Tax How to calculate how much you will owe. South Africa has just fallen in line with international tax trends with the introduction of a dividends tax to replace the secondary tax on companies (STC), a move likely to make South Africa a more attractive foreign investment destination. However, while this may [...]
New dividends tax brings both simplicity and complexity
March 3, 2009 By Leave a Comment
Ernest Mazansky, Director Werksmans Attorneys South Africa has just fallen in line with international tax trends with the introduction of a dividends tax to replace the secondary tax on companies (STC), a move likely to make South Africa a more attractive foreign investment destination. However, while this may simplify tax from the perspective of foreign [...]
