Month: March 2004

A new section has been introduced in to the Income Tax Act commencing on 1 January 2004 for tax years (year of assessment) ending on or after this specific date. Read more “NEWSLETTER 7 OF 2004”

The South African Revenue Service and South African Reserve Bank has introduced a new amnesty for those persons who have illegally removed money from SA. This amnesty application has to be made before 29 February 2004 if it effects you. Read more “NEWSLETTER 6 OF 2004”

SARS has decided that in certain cases, losses incurred from certain business will be ringfenced, in other words, you will not be allowed to deduct the loss from other business profits or from your salary. Read more “NEWSLETTER 5 OF 2004”

As most of you know SA has brought in a new tax law called Residence Based tax on 1 January 2001. Liability for tax is therefore generally dependent either upon the place of residence of a person, or the case of non-residents upon the source or deemed source of the income certain specific provisions of the Act. Read more “NEWSLETTER 3 OF 2004”

The reasons for this introduction was as follows:-

1.1 INTERNATIONAL BENCHMARKING

Capital gains tax was introduced by South Africa’s trading partners many years ago. Read more “NEWSLETTER 2 OF 2004”

Hi All

This is Worldwide Tax solutions news letter that will be frequently updated, and you are most welcome to pass it on to any possible new clients. Read more “NEWSLETTER 1 OF 2004”