BASF South Africa (Pty) Ltd v CSARS

Supreme Court of Appeal dismisses SARS’s appeal in CSARS v Erasmus, holding that SARS could not use a rule 31 statement to revise the factual basis and remedy of a GAAR assessment after issuing the assessment.

Binding Private Ruling 428 examines the income tax consequences of a Delayed Contribution Equity Investment Structure (DCEIS), confirming that phased share subscription proceeds constitute contributed tax capital rather than gross income.

The ruling also clarifies the interaction between sections 11D and 8(4)(a), confirming that qualifying R&D expenditure remains deductible without triggering recoupment consequences under the Income Tax Act.

This Tax Court VAT Section 21 Judgment examines the VAT treatment of financial services, focusing on whether certain banking activities qualify as exempt supplies.

The case highlights the interpretation of “financial services” under VAT legislation and clarifies the boundaries between taxable and exempt transactions, offering key insights into compliance, input tax claims, and structuring within the banking sector.

Debts are often written off or restructured in some way. These typically tend to have tax consequences. This session discusses what those tax consequences are.

Supreme Court of Appeal dismisses reconsideration in Lutzkie v SARS, holding that no exceptional circumstances justified revisiting refusal of leave to appeal on disputed taxable income and penalties.

In this practical training session, we unpack Tax Court judgment IT 24852 (Taxpayer EPP v SARS), where a taxpayer sought to deduct R38.8 million after customs and excise refund claims became time-barred. Explore the critical distinction between expenditure and loss under section 11(a), the timing of deductions, the impact of prescribed refund claims, understatement penalties, interest, and potential post-judgment remedies through reduced assessments and prescription exceptions under the Tax Administration Act