case law
- Supreme Court of Appeal | C: SARS v Clicks Retailers (Pty) Ltd
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- appeal against decision of Tax Court, in respect of which the Commissioner for the South African Revenue Service was directed to partially allow a claim by taxpayer in terms of section 24C of the Income Tax Act, 58 of 1962 ("Act").
- whether cost of sales in honouring vouchers, issued to clients in terms of a loyalty programme and expected to be redeemed in the following year, constituted expenditure for purposes of section 24C of the Act, considered.
- whether expenditure incurred in honouring vouchers held by clients arose in terms of the same contract in respect of which sales income accrued to the taxpayer, considered.
- find a copy of the judgment here.
- High Court of the South Africa| C: SARS v Spur Group (Pty) Ltd
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- whether a contribution to a trust qualifies as expenditure incurred in the production of income in terms of section 11(a) of the Income Tax Act, 58 pf 1962, considered.
- whether there is a sufficiently close connection between the taxpayer's contribution to a trust in respect of its employee share incentive scheme and its production of income, considered.
- find a copy of the judgment here.
- Supreme Court of Appeal | C: SARS v Langholm Farms (Pty) Ltd
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- whether the court appropriately exercised its discretion in circumstances where SARS had not issued a final assessment.
- interpretation of section 75(1C)(a)(iii) of the Customs and Excise Act 91 of 1964, considered.
- interpretive principles to be applied where clear language of a provision produces an "unpalatable" outcome, considered and confirmed.
- exercise of the court's discretion in terms of section 21 of the Superior Courts Act 10 of 2013, considered.
- find a copy of the judgment here.
legislation and draft legislation
- amendments were made, on 20 November 2019, to the Taxation Laws Amendment Bill [B18—2019] as tabled by the Minister of Finance in the National Assembly on 30 October 2019
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- find a copy of the amended Bill here.
- Carbon Tax Act, 2019: Regulations | Government Gazette 42873
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- Carbon Tax Act regulations were published in Government Gazette 42873.
- find a copy of the regulations here.
- Carbon Tax Act, 2019: Draft Regulations |Trade Exposure Allowance
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- proposed regulations in terms of section 10 of the Carbon Tax Act, 2019
- find a copy of the regulations here
- Carbon Tax Act, 2019: Draft Regulations | GHG Emissions Intensity Benchmarks
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- proposed regulations in terms of section 19(a) of the Carbon Tax Act, 2019
- find a copy of the regulations here.
advance tax rulings
- binding private ruling 335 | STT exemption for foreign governments
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- section 8(1)(k) of the Securities Transfer Tax Act 25 of 2007 ("STT Act").
- this ruling determines whether the securities transfer tax ("STT") exemption for any sphere of a foreign government is available in situations where a foreign central bank acts as investment manager for a sovereign wealth fund.
- find a copy of this ruling here.
- binding private ruling 336 |liquidation distribution
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- section 1(1), paragraph (k) of the definition of "gross income" in terms of the Income Tax Act, 58 of 1962 ("Act")
- sections 10(1)(k), 47(1), 47(5), 64G(2)(b) of the Act
- paragraphs 11(2)(b)(i), 12(A)(6)(e), 43A, and 77 of the Eighth Schedule to the Act
- section 8(1)(a)(v) of the STT Act
- this ruling determines the income tax and STT consequences of a liquidation distribution.
- find a copy of the ruling here.
SARS publications
- no new publications noted
exchange control
- no new exchange control circulars noted
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