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A creature of statute: A decision about the Tax Court’s power to increase understatement penalties
8 March 2019 Tax & Exchange Control

A creature of statute: A decision about the Tax Court’s power to increase understatement penalties

In the recent judgment of Purlish Holdings (Proprietary) Limited v The Commissioner for the South African Revenue Service (76/18) [2019] ZASCA 04, the Supreme Court of Appeal (SCA) had to pronounce on the South African Revenue Service’s (SARS) entitlement to impose understatement penalties on Purlish Holdings (Proprietary) Limited (Taxpayer) and the quantum thereof.

The forth Industrial Revolution
8 March 2019 Employment

The forth Industrial Revolution

Anli Bezuidenhout, Senior Associate in the Employment Law Practice, discusses how employers should start evaluating the impact that the 4th Industrial Revolution will have on their businesses Cape Talk's Early Breakfast show.

Private companies and the paradox of the private equity model in South African company law
6 March 2019 Corporate & Commercial

Private companies and the paradox of the private equity model in South African company law

Private companies in South Africa, in terms of s8(2) of the Companies Act, No 71 of 2008 (Companies Act), are (i) prohibited from offering their securities to the public and (ii) required to restrict the transferability of their securities in their memorandum of incorporation (MOI) (although the Companies Act does not prescribe the manner in which this must be done). These two elements distinguish a “private company” from a “public company”.

The duty to disclose material information stands
6 March 2019 Dispute Resolution

The duty to disclose material information stands

The issue of non-disclosure in the insurance industry came under scrutiny in the media at the end of last year, as a result of a major South African insurer repudiating a life insurance policy claim based on non-disclosure.

Is arbitrariness a sufficient ground to establish unfair discrimination in wage differentiation disputes in terms of s6(1) of the EEA?
4 March 2019 Employment

Is arbitrariness a sufficient ground to establish unfair discrimination in wage differentiation disputes in terms of s6(1) of the EEA?

In Naidoo and Others v Parliament of the Republic of South Africa [2018] ZALCCT 38, 69 employees who form part of the Parliamentary Protection Services (PPS) took Parliament to the Labour Court (LC) for allegedly discriminating against them unfairly on an arbitrary ground as contemplated by s6(1) of the Employment Equity Act, No 55 of 1998 as amended (EEA).

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A further win for the youth
21 February 2019 Tax & Exchange Control

A further win for the youth

The historically high levels of unemployment among the youth in South Africa has led to the introduction of various tax incentives and benefits aimed at encouraging the employment and training of such persons. Among these is the employment tax incentive (ETI) scheme which was introduced by the Employment Tax Incentive Act, No 26 of 2013 (ETI Act).

Various proposals regarding environmental taxes
21 February 2019 Tax & Exchange Control

Various proposals regarding environmental taxes

While recent presidential elections and appointments in the United States of America and Brazil breathed fresh air into the lungs of climate change denialists, in South Africa, there is still general political recognition of the negative effects of climate change. This is in line with government’s ongoing commitment to the Paris Climate Agreement, which aims to keep the increase in the global average temperature to well below 2°C above pre-industrial levels.

Excisable products
21 February 2019 Tax & Exchange Control

Excisable products

As is the case each year, government proposes an increase in duties and levies for excisable products.

Value-added tax
21 February 2019 Tax & Exchange Control

Value-added tax

Following on the 2018 budget review in which the Minister increased the VAT rate to 15%, no further significant VAT amendments were announced.

Company law vs income tax law: Amalgamations now regularised
21 February 2019 Tax & Exchange Control

Company law vs income tax law: Amalgamations now regularised

One of the amendments proposed by the Budget aims to reconcile the incongruency that exists between South African company law and South African income tax law with regards to the deregistration or liquidation of companies that are involved in amalgamation transactions.

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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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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)