Managers of Wealth Africa

Netherlands Ready to Shed Double Taxation With Kenya

The Netherlands is ready to sign the long awaited agreement on double taxation with Kenya, to cut the cost of trade, its ambassador Joost Reintjes said yesterday.

Tax consequences of foreign companies rendering services in South Africa

Where a foreign company renders professional services to a South African company, it is important that the foreign entity considers whether, as a result of rendering such services, the foreign company will create a permanent establishment in South Africa.

Tax consequences of foreign companies rendering services in South Africa

The Mauritius Revenue Authority enters into Memorandum of Understanding with the South African Revenue Service

The understanding was reached in relation to the below factors to be considered when endeavouring to settle the question of dual residence

KRA loses tax demand case against Barclays

The Kenya Revenue Authority has lost a tax demand battle against Barclays Bank of Kenya after the High Court ruled that its classification of royalties is vague

Taxation of interest - the complex web

The number of provisions contained in the Income Tax Act, 58 of 1962 (“the Act”) which deal with tax treatment of interest income and interest expenditure have gradually increased over time.

Ability of SARS to request information from a taxpayer by Peter Dachs, ENS Africa

The South African Revenue Service (“SARS”) often sends out information requests in terms of section 46 of the Tax Administration Act. The question arises, in what circumstances SARS is permitted to ask such questions and what limits exist in r

Do we pay too much income tax in South Africa?

In the 2016 tax year (1 March 2015 – 29 February 2016), South Africa’s highest tax rate increased to 41%

Clamping down on SA’s big tax dodgers

Davis said high-net-worth individuals could also be targeted.

How SA could collect more tax revenue

Judge Dennis Davis considers potential sources.

Online tax laws holding SA companies back

Globally, there have been numerous reports regarding multinationals that pay little or no tax in the markets

The conundrum of the interplay between interest deduction limitations, interest withholding tax and double tax agreements

The deductibility of interest has for years been a contentious issue and this has been reaffirmed with the introduction of section 23M into the Income Tax Act No 58 of 1962 with effect from 1 January 2015

FATCA Guidance Notes for Mauritius based Financial Institutions - TMF

The Guidance Note provides practical assistance to Mauritius-based financial institutions, businesses, their advisers, and officials dealing with the application of FATCA.

Taking the Mauritius route may ease tax woes for FIIs

According to sources, while foreign investors paying capital gains tax in their home nations will not be subject to 20% MAT

South Africa announces timelines for the introduction of the carbon tax by Mansoor Parker and Andrew Gilder

The time from now until 2016 is a very important period within which businesses have the opportunity to come to terms with, and devise a strategy for, the impact that a carbon tax may have on their operations.

“pay now, argue later” - recent amendments to section 164 of the Tax Administration Act No. 28 of 2011 by Taryn Solomon

When it comes to the payment of tax which is disputed by a taxpayer, South African tax law is premised on the principle of pay now, argue later.

Potential tax implications of registering an external company

An external company must be regarded as "conducting business"

Seychelles Sets Out Transfer Pricing Regime

The Ruling states that in applying the arm's length principle, the Commissioner will use the most appropriate transfer pricing method

South African: State faces a tough balancing act on tax

The government faces a tough balancing act

South Africa: Intergovernmental Agreement With U.S. On Track - SARS

The implementation of an intergovernmental agreement with the US remains on track, the South African Revenue Service said.