On 20 February 2019, Finance Minister Tito Mboweni announced that the National Treasury will work with the Department of Trade and Industry and the Department of Economic Development to explore the introduction of an export tax on scrap metal.
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SARS became concerned about a perceived ‘loophole’ in relation to share buyback and issue transactions, identifying certain share buyback and issue transactions as ‘reportable arrangements’ for tax purposes in 2015. The anti-avoidance legislation was only finally enacted in 2017.
Continue readingThis year’s Budget Review on 20 February 2019 announced that in a bid to generate additional revenue of ZAR 1 billion in 2019/ 2020, there will be no change in the monthly medical tax credit rates for medical scheme contributions.
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The decision confirms that the mere issuing of a writ at court is not sufficient to protect against legitimate changes in ship ownership.
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The Competition Amendment Bill, 2018 was presented to Parliament by the Minister of Economic Development on Wednesday, 11 July 2018.
Continue readingThe dreaded CT will cease to be law from the 1st of January 2019. However, its replacement may prove to be just as much of a problem.
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