View the collection of Deloitte South Africa press releases....
| The New General Anti-Avoidance Rules |
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14 March 2007 |
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With effect from 2 November 2006 the general anti-avoidance rules contained in section 103 of the Act have been repealed and replaced with the new sections 80A to 80L, housed within the inserted Part IIA of Chapter III of the Act. The new provisions are the result of lengthy discussions and much debate following the release of an earlier discussion document. The new provisions are broken down into manageable pieces of legislation, sections 80A – 80L which ensure the easier understanding and interpretation of these complex and lengthy provisions. The reasons for the changes... |
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| Benefits of outsourced Immigration Services |
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14 March 2007 |
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Whenever the question of outsourcing business processes is presented to clients the question of cost is always a factor that is paramount in the company’s eyes rather than the question of risk. The viability of corporations outsourcing the administrative process to external service providers seems to always be in question more especially when it comes to issues such as immigration services i.e. processing of work permit, study permit and visitors permit applications for foreigners in the company’s employ and their families. Immigration is often perceived as a laborious, administrative intensive... |
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| Incentives for Scientific and Technological Research & Development |
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14 March 2007 |
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Innovation, research and technological development are key factors for improved productivity, economic growth and international competitiveness. Given the high costs involved in research and development (R&D), as well as the high levels of technical risk, the government has seen fit to introduce improved tax incentives as a way of indirectly subsidising R&D costs. As a result a new section 11D has been introduced. This section caters for all costs relating to R&D incurred on or after 2 November 2006, and replaces section 11B for expenses incurred on or after that date. |
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| Intercompany loans: It's not just about the interest rate |
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14 March 2007 |
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It is a well established fact that tax authorities globally are paying more attention to transfer pricing on all aspects of international trade including intercompany loans. Tax authorities have regard to all aspects of intercompany loans when assessing the arm’s length nature thereof for transfer pricing, not just the interest rate. Recent audits by revenue authorities have reassessed taxpayers on the basis that the terms and conditions of intercompany debt instruments, other than the interest rate, were not the terms and conditions that unrelated parties would have negotiated with each other. |
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| New rules for bursaries and scholarships |
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07 March 2007 |
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There has been a subtle change in the law regarding bursaries and scholarships granted to employees, and employers should amend their policies on bursaries and scholarships to ensure that they comply in order for employees in receipt of such bursaries and scholarships to continue to receive them on a tax-free basis. Since 1992 bursaries and scholarships awarded by employers to their employees were exempt from tax provided no salary sacrifice was involved. The exemption applied if it was a bona fide bursary or scholarship granted to enable the employee to study at a recognized educational or research... |
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| Manuel se taksoorskot in kluis 'n dapper visie |
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26 February 2007 |
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Die feit dat die verwagte belastmgoorskot van R5,2 miljard wat Woensdag aangekondig is, nie aan belastingbetalers te ruggegee word in die vorm van verdere belastingverligting nie, toon dat die minister van finansies dapper genoeg is om ver vooruit te dink. |
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| Manuel se vandag meer oor maatskaplike versekeringsplan |
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23 February 2007 |
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Mnr Trevor Manuel minister van fiansies gaan vandag meer lig werp op sy planne vir 'n omvattende maatskaplike versekeringstelsel vir Suid Afrika.
Die skep van so 'n stelsel gaan veranderings aan bestaande versekeringsfondse en werknemervoordele en n nuwe belastingstruktuur
meebring.
Hy se in sy begrotingsoorsig maatskaplike versekeringstelsels behels wisselende grade van herverdeling van inkomste en kruis subsidiering. |
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| Tax relief to benefit low earners most |
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22 February 2007 |
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Individual payers have been given personal income tax relief amounting to R8,4bn mainly (about R5bn) to compensate them for fiscal drag.
Both personal income tax rates and brackets have been adjusted with the threshold for the top marginal income earner rising from an annual salary of R400 001 - R450 000 |
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| Secondary tax on companies goes - few mourn its passing |
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22 February 2007 |
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The widely disliked secondary tax on companies STC is to be phased out and replaced with a withholding tax on dividends.
STC has been condemned as a disincentive to foreign investors who have found the tax confusing.
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| STC Abolished |
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22 February 2007 |
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Secondary Tax on Companies STC has been abolished. It will be
replaced with a tax on dividends making doing business in SA more
attractive. The dividend tax will apply at a rate of 10% down from
the current 12,5% STC rate. This will apply to all distributions |
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