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Some proposed amendments to the VAT Act
19 July 2017 Tax & Exchange Control

Some proposed amendments to the VAT Act

It is proposed that where a lessee effects leasehold improvements to the property of a lessor for no consideration, the lessee is deemed to have made a taxable supply of goods to the lessor in the course or furtherance of the lessee’s enterprise.

Foreign employment income exemption – is this the end?
19 July 2017 Tax & Exchange Control

Foreign employment income exemption – is this the end?

Currently, s10(1)(o)(ii) of the Income Tax Act, No 58 of 1962 (Act), states that if a South African resident works in a foreign country for more than 183 days a year, with more than 60 of those days being continuous, foreign employment income earned is exempt from tax, subject to certain conditions. This exemption is only available to employees from the private sector. Early this year in the 2017 Budget, it was proposed that the exemption be adjusted as it was “excessively generous” for those that still benefited from it, ie private sector employees. It was proposed that foreign employment income will only be exempt from tax if it was subject to tax in the foreign country.

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Some proposed amendments to the VAT Act
19 July 2017 Tax & Exchange Control

Some proposed amendments to the VAT Act

It is proposed that where a lessee effects leasehold improvements to the property of a lessor for no consideration, the lessee is deemed to have made a taxable supply of goods to the lessor in the course or furtherance of the lessee’s enterprise.

Foreign employment income exemption – is this the end?
19 July 2017 Tax & Exchange Control

Foreign employment income exemption – is this the end?

Currently, s10(1)(o)(ii) of the Income Tax Act, No 58 of 1962 (Act), states that if a South African resident works in a foreign country for more than 183 days a year, with more than 60 of those days being continuous, foreign employment income earned is exempt from tax, subject to certain conditions. This exemption is only available to employees from the private sector. Early this year in the 2017 Budget, it was proposed that the exemption be adjusted as it was “excessively generous” for those that still benefited from it, ie private sector employees. It was proposed that foreign employment income will only be exempt from tax if it was subject to tax in the foreign country.

Tax treatment of conversion of debt into equity and the artificial repayment of debt
19 July 2017 Tax & Exchange Control

Tax treatment of conversion of debt into equity and the artificial repayment of debt

The Income Tax Act, No 58 of 1962 (Act) contains rules dealing with the manner in which a taxpayer must account for the benefit derived from the waiver, cancellation, reduction or discharge of a debt owed by that taxpayer. The tax implications arising in respect of the reduction of a debt, depends mainly on whether the loan funding was used to fund tax deductible expenditure such as operating expenses or alternatively capital or allowance assets. The debt reduction rules apply only to the extent to which the waiver, cancellation, reduction or discharge of a debt gives rise to a “reduction amount”, in other words, the amount, by which the decrease in debt exceeds the consideration received by the creditor in return.

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Cross-border mergers and acquisitions – Charting the regulatory landscape
14 July 2017 Corporate & Commercial

Cross-border mergers and acquisitions – Charting the regulatory landscape

In the latest issue of Into Africa, Corporate & Commercial Director and Head of CDH's Africa practice, Deepa Vallabh, and Corporate & Commercial Associate Motheo Mfikoe point out that the growth of African markets in the recent years has occurred through cross-border M&A activity, and has become an important source of FDI.

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Chief Economist Dr Jammine at CDH's 'Junk Status' seminar
19 May 2017

Chief Economist Dr Jammine at CDH's 'Junk Status' seminar

Econometrix Director and Chief Economist Dr Azar Jammine told delegates at a Cliffe Dekker Hofmeyr 'Junk Status' seminar which took place on Thursday, 18 May, that "We haven’t had the worst-case scenario of a collapse in the rand that will cause our interest rates to soar”.

Team
28 March 2017

Team

At Cliffe Dekker Hofmeyr, we believe in partnerships. We believe that two heads are always better than one and that, when we work together, we are capable of producing amazing results. Results that benefit you and your business. Backed by our vast experience across a wide variety of industries and disciplines, we provide legal and business advice that is driven by rigorous analysis and commercial judgement. And that helps drive your business forward.

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Weed in the workplace
23 May 2017 Employment

Weed in the workplace

Employment Director Jose Jorge discusses the recent court case in the Western Cape High Court relating to the use of cannabis in the privacy of your home and how it could, if the Bill is passed, affect the workplace.

Research on sexual harassment during times of junk status
5 May 2017 Employment

Research on sexual harassment during times of junk status

Aadil Patel (Head of our Employment practice), Fatima Moosa (National HR Manager) and Mariella Noriega Del Valle (HR Intern) participated in a discussion with Naledi on The Talk Shop on SAFM as to whether the risk of workplace abuses - particularly sexual harassment – is likely to increase during these turbulent economic times.

The provision of free or low-cost transport services
20 April 2017 Tax & Exchange Control

The provision of free or low-cost transport services

Tax and Exchange Control Associate Designate Louis Botha chatted to Ayabonga Cawe on Power FM's Power Hour on Tuesday, 18 April, about whether the provision of free or low-cost transport services by employers to their employees, to convey them between their homes and place of employment, constitutes a taxable fringe benefit, the value attached to such benefit and two recent rulings issued by SARS regarding this issue.

SANRAL is owed more than R11 billion
2 December 2016 Dispute Resolution

SANRAL is owed more than R11 billion

Pieter Conradie, Executive Consultant in our Dispute Resolution practice, gives more information as to why so much money is owed to South African National Roads Agency (SANRAL)