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income tax act south africa 2017 pdf

SAIPA 2017/18 Annual Tax Update South African Institute 29 September 2017 The South African Revenue Service Lehae La SARS, 299 Bronkhorst Street PRETORIA 0181 BY EMAIL: policycomments@sars.gov.za RE: CHAPTER 16 (DECEASED ESTATES) OF THE DRAFT COMPREHENSIVE GUIDE TO CAPITAL GAINS TAX

REPUBLIC OF SOUTH AFRICA EXPLANATORY MEMORANDUM ON

Investor tax certificate (IT3(b)) explained Finfocus. All worldwide income received by or accrued to X, on or after 1 October 2008 (excluding certain income that may be exempt) will be included in the taxable income of X for the tax years ending on 28 February 2009 and thereafter. A natural person, who emigrates from South Africa to another country, will cease to be a resident as from the date that he or she emigrates., Section 35A was inserted into the Income Tax Act No. 58 of 1962, as amended, in terms of section 30 of the Revenue Laws Amendment Act, No 32 of 2004. This section now deals with the withholding of tax in respect of non-residents who dispose of property in South Africa on or after 1 September 2007. Overview of Section 35A In short, section 35A imposes an obligation on a purchaser, who purchases.

March 2017/18 A pocket guide to SOUTH AFRICAN TAXES 1 OF 40. Use of this guide 3 The 2017/2018 budget 4 How to calculate income tax 5 Gross income and residence 6 Income 9 Deemed income 10 Taxable income 11 General deductions 12 Specific deductions 14 Allowable deductions for salaried employees 18 Deductions not allowed 19 Sequence of deductions 19 Fringe benefits 20 Lump sums … March 2017/18 A pocket guide to SOUTH AFRICAN TAXES 1 OF 40. Use of this guide 3 The 2017/2018 budget 4 How to calculate income tax 5 Gross income and residence 6 Income 9 Deemed income 10 Taxable income 11 General deductions 12 Specific deductions 14 Allowable deductions for salaried employees 18 Deductions not allowed 19 Sequence of deductions 19 Fringe benefits 20 Lump sums …

All worldwide income received by or accrued to X, on or after 1 October 2008 (excluding certain income that may be exempt) will be included in the taxable income of X for the tax years ending on 28 February 2009 and thereafter. A natural person, who emigrates from South Africa to another country, will cease to be a resident as from the date that he or she emigrates. Tax and Exchange Control Alert 22 February 2017 SPECIAL EDITION Budget Speech INTRODUCTION In terms of s64E of the Act, dividends tax is levied on the

29 September 2017 The South African Revenue Service Lehae La SARS, 299 Bronkhorst Street PRETORIA 0181 BY EMAIL: policycomments@sars.gov.za RE: CHAPTER 16 (DECEASED ESTATES) OF THE DRAFT COMPREHENSIVE GUIDE TO CAPITAL GAINS TAX from the Income Tax Act and will be dealt with as a reportable arrangement in terms of the Tax Administration Act. A six-month amnesty period will apply between 1 October 2016 and 31 March 2017 for those with undeclared offshore income and assets to regularise their affairs. It is proposed that a mechanism be developed to allow for a refund of interest withholding tax paid where the payor

One has a legal obligation, regulated by the Income Tax Act, to submit returns in respect of income derived from either employment or the rendering or a service on a yearly basis ” ©Sage South Africa - February 2017 5 This will apply to retirement funds other than a “pension fund”, “pension preservation fund”, “provident fund”, “provident preservation fund” and/or “retirement annuity” as defined in section 1 of the Income

Notes on South African Income Tax 2017 available to buy online at takealot.com. Many ways to pay. Eligible for Cash on Delivery. Free Delivery Available. Hassle-Free Exchanges & Returns for 30 Days. 6-Month Limited Warranty. We offer fast, reliable delivery to your door. 29 September 2017 The South African Revenue Service Lehae La SARS, 299 Bronkhorst Street PRETORIA 0181 BY EMAIL: policycomments@sars.gov.za RE: CHAPTER 16 (DECEASED ESTATES) OF THE DRAFT COMPREHENSIVE GUIDE TO CAPITAL GAINS TAX

In South Africa, Value Added Tax (VAT) is imposed on the consumption of goods or services in South Africa. This is achieved by imposing VAT on the local supply of goods or services by South African VAT vendors, and levying VAT on the importation of goods and certain services into South Africa. Only goods or services supplied in the course of carrying on a VAT enterprise are subject to VAT • Income Tax Act 58 of 1962/ITA (as amended) • Value-Added Tax Act 89 of 1991/VAT (as amended) • Draft Rates and Monetary Amounts and Amendments of Revenue Laws Bill, February 2017 • Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 • Taxation Laws Amendment Act 15 of 2016 • Tax Administration Laws Amendment Act 16 of 2016 • National Budget Speech, 2017

Currently, if a South African resident renders employment services in a foreign country for more than 183 days a year , the foreign employment income earned is exempt from tax… from the Income Tax Act and will be dealt with as a reportable arrangement in terms of the Tax Administration Act. A six-month amnesty period will apply between 1 October 2016 and 31 March 2017 for those with undeclared offshore income and assets to regularise their affairs. It is proposed that a mechanism be developed to allow for a refund of interest withholding tax paid where the payor

The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9. If this exemption is applicable, the South African resident employee pays no income tax in South Africa on such qualifying foreign earnings. Tax may of course be payable in the jurisdiction in which the services are rendered on a source basis, unless double tax treaty relief applies.

The Income Tax Amendment Act 10 2017.pdf. Link to related legislation: Income Tax Act 1997 . In force: Yes. Long title: An Act to amend the Income Tax Act, Cap. 340 to provide for the exemption from payment of income tax on income accrued by a body established by an Act of Parliament to regulate the conduct of professionals; to provide for the exemption from tax of the income of Bujagali Hydro ©Sage South Africa - February 2017 5 This will apply to retirement funds other than a “pension fund”, “pension preservation fund”, “provident fund”, “provident preservation fund” and/or “retirement annuity” as defined in section 1 of the Income

The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9. The Income Tax Amendment Act 10 2017.pdf. Link to related legislation: Income Tax Act 1997 . In force: Yes. Long title: An Act to amend the Income Tax Act, Cap. 340 to provide for the exemption from payment of income tax on income accrued by a body established by an Act of Parliament to regulate the conduct of professionals; to provide for the exemption from tax of the income of Bujagali Hydro

The Income Tax (Amendment) Bill 2017 (the Bill) was read for the second time and passed in Parliament in October 2017. Besides the tax changes announced in the 2017 … third quarter of 2017, specifically in relation to Income Tax and VAT. Johan Kotze, Johan Kotze, a Tax Executive at Shepstone & Wylie Attorneys, has compiled this summary.

Income Tax Act Agreement between South Africa gov.za. South Africa: Proposed repeal of foreign employment income exemption July 26, 2017 In brief South African residents are entitled to an exemption for remuneration received or accrued with respect to services rendered outside South Africa pursuant to section 10(1)(o)(ii) of the Income Tax Act, 1962 (Act No. 58 of 1962.) In order to qualify for the exemption, certain requirements (mainly relating, Income Tax Legislation (Amendment) Bill 2017 Explanatory Memorandum c Page v Commissioners, in light of the amendment to section 88 (Income Tax Commissioners) of the Income Tax Act 1970 having empowered the Treasury to make regulations generally for the purpose of prescribing the practice and procedure of the Commissioners. 15. The resulting Act is not expected to have any human ….

With reference to the OECD’s Common Reporting

income tax act south africa 2017 pdf

WITHHOLDING TAX WHEN DEALING WITH A NON-RESIDENT. Download the PDF version of Juta's Tax Law Review March 2017 LEGISLATION The following fiscal legislation has been promulgated since the last issue of the Juta Tax Law Review: Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 (promulgated in GG 40560 of 19 January 2017) Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Act 14 of …, All worldwide income received by or accrued to X, on or after 1 October 2008 (excluding certain income that may be exempt) will be included in the taxable income of X for the tax years ending on 28 February 2009 and thereafter. A natural person, who emigrates from South Africa to another country, will cease to be a resident as from the date that he or she emigrates..

With reference to the OECD’s Common Reporting. Notes on South African Income Tax 2017 available to buy online at takealot.com. Many ways to pay. Eligible for Cash on Delivery. Free Delivery Available. Hassle-Free Exchanges & Returns for 30 Days. 6-Month Limited Warranty. We offer fast, reliable delivery to your door., The Milnerton Estates Limited v The Commissioner for the South African Revenue Services (1159/2017) Appealed from Tax Court Date to be heard: 06 November 2018 Navsa ADP, Wallis JA, Mathopo JA, Matojane AJA, Nicholls AJA Tax law – Income Tax – s 24(1) of the Income Tax Act 58 of 1962 – the issue is whether the proceeds from a sale of immovable property had, on general tax ….

South Africa PKF Assurance Audit Tax Advisory and

income tax act south africa 2017 pdf

Investor tax certificate (IT3(b)) explained Finfocus. TAX GUIDE 2017|2018 - 1 - CONTENTS. INCOME TAX RATES 2 DIFFERENT TYPES OF ENTITIES considered a resident and therefore subject to South African income tax an individual must be either “ordinarily resident” in South Africa (have a permanent home in South Africa) or be “physically present” in the Republic of South Africa. Physically present requires that an individual be present in South African Budget 2017/18 - budget speech summary and tax proposals. SADC Taxes and commentaries . International Taxation. Carbon Tax - Guides and Policy formulation, an instruction manual. Tax cases play a large part in the interpretation of tax legislation. Knowing the basic principles of taxation and the associated tax cases, is a prerequisite for effective tax planning. Welcome to SA.

income tax act south africa 2017 pdf


The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9. • Income Tax Act 58 of 1962/ITA (as amended) • Value-Added Tax Act 89 of 1991/VAT (as amended) • Draft Rates and Monetary Amounts and Amendments of Revenue Laws Bill, February 2017 • Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 • Taxation Laws Amendment Act 15 of 2016 • Tax Administration Laws Amendment Act 16 of 2016 • National Budget Speech, 2017

Section 35A was inserted into the Income Tax Act No. 58 of 1962, as amended, in terms of section 30 of the Revenue Laws Amendment Act, No 32 of 2004. This section now deals with the withholding of tax in respect of non-residents who dispose of property in South Africa on or after 1 September 2007. Overview of Section 35A In short, section 35A imposes an obligation on a purchaser, who purchases Foreign employment income: proposed repeal of exemption in section 10(1)(o)(ii) 24 July 2017 In brief In terms of section 10(1)(o)(ii) of the Income Tax Act, 1962 (A ct No. 58 of 1962) (“the Act”), South African residents are entitled to an exemption in respect of remuneration received or accrued in respect of services rendered outside South Africa. In order to qualify for the exemption

This gazette is also available free online at www.gpwonline.co.za STAATSKOERANT, 28 JULIE 2017 No. 41009 173 SCHEDULE PROTOCOL AMENDING THE AGREEMENT BETWEEN THE REPUBLIC OF SOUTH AFRICA from the Income Tax Act and will be dealt with as a reportable arrangement in terms of the Tax Administration Act. A six-month amnesty period will apply between 1 October 2016 and 31 March 2017 for those with undeclared offshore income and assets to regularise their affairs. It is proposed that a mechanism be developed to allow for a refund of interest withholding tax paid where the payor

As part of South Africa’s reform of taxation of trusts, to limit the use of trusts as vehicles to avoid Estate Duty or Capital Gains Tax, National Treasury has introduced section 7C of the Income Tax Act No 58 of 1962 (the Act). South Africa: Proposed repeal of foreign employment income exemption July 26, 2017 In brief South African residents are entitled to an exemption for remuneration received or accrued with respect to services rendered outside South Africa pursuant to section 10(1)(o)(ii) of the Income Tax Act, 1962 (Act No. 58 of 1962.) In order to qualify for the exemption, certain requirements (mainly relating

Income Tax Legislation (Amendment) Bill 2017 Explanatory Memorandum c Page v Commissioners, in light of the amendment to section 88 (Income Tax Commissioners) of the Income Tax Act 1970 having empowered the Treasury to make regulations generally for the purpose of prescribing the practice and procedure of the Commissioners. 15. The resulting Act is not expected to have any human … ©Sage South Africa - February 2017 5 This will apply to retirement funds other than a “pension fund”, “pension preservation fund”, “provident fund”, “provident preservation fund” and/or “retirement annuity” as defined in section 1 of the Income

from the Income Tax Act and will be dealt with as a reportable arrangement in terms of the Tax Administration Act. A six-month amnesty period will apply between 1 October 2016 and 31 March 2017 for those with undeclared offshore income and assets to regularise their affairs. It is proposed that a mechanism be developed to allow for a refund of interest withholding tax paid where the payor Income Tax and ETI Amendments 2017/2018 Page 2 of 17 1 Employment Tax Incentive (ETI) Changes The Taxation Laws Amendment Act, 2016, promulgated on 19 January 2017 in …

The Milnerton Estates Limited v The Commissioner for the South African Revenue Services (1159/2017) Appealed from Tax Court Date to be heard: 06 November 2018 Navsa ADP, Wallis JA, Mathopo JA, Matojane AJA, Nicholls AJA Tax law – Income Tax – s 24(1) of the Income Tax Act 58 of 1962 – the issue is whether the proceeds from a sale of immovable property had, on general tax … Normal tax is payable by South African companies on their worldwide taxable income at the rate of 28%. The tax is payable by both public and private companies as well as close corporations.

From a South African Revenue Service and ultimately the Department of Treasury’s point of view, it is an important source of income for them. In the Act, section 7C specifically address the issue whereby a loan, credit or an advance is granted to a Trust at no interest or below market related interest rates. South African Budget 2017/18 - budget speech summary and tax proposals. SADC Taxes and commentaries . International Taxation. Carbon Tax - Guides and Policy formulation, an instruction manual. Tax cases play a large part in the interpretation of tax legislation. Knowing the basic principles of taxation and the associated tax cases, is a prerequisite for effective tax planning. Welcome to SA

• Income Tax Act 58 of 1962/ITA (as amended) • Value-Added Tax Act 89 of 1991/VAT (as amended) • Draft Rates and Monetary Amounts and Amendments of Revenue Laws Bill, February 2017 • Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 • Taxation Laws Amendment Act 15 of 2016 • Tax Administration Laws Amendment Act 16 of 2016 • National Budget Speech, 2017 23/11/2017 · The new South African Taxation Laws Amendment Bill, 2017 (the "TLAB 2017") was released following the public consultation process for the Draft Taxation Laws Amendment Bill, 2017 (the "Draft TLAB 2017").

Normal tax is payable by South African companies on their worldwide taxable income at the rate of 28%. The tax is payable by both public and private companies as well as close corporations. The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9.

exemptions in terms of section 10B of the Income Tax Act. Sars will apply the exemption in terms of section 10B(3) on foreign dividends subject to South African income tax. 29 September 2017 The South African Revenue Service Lehae La SARS, 299 Bronkhorst Street PRETORIA 0181 BY EMAIL: policycomments@sars.gov.za RE: CHAPTER 16 (DECEASED ESTATES) OF THE DRAFT COMPREHENSIVE GUIDE TO CAPITAL GAINS TAX

South Africa PKF Assurance Audit Tax Advisory and

income tax act south africa 2017 pdf

Notes on South African Income Tax 2017 Buy Online in. ©Sage South Africa - February 2017 5 This will apply to retirement funds other than a “pension fund”, “pension preservation fund”, “provident fund”, “provident preservation fund” and/or “retirement annuity” as defined in section 1 of the Income, Overview In terms of the Draft Taxation Laws Amendment Bill, dated 19 July 2017, National Treasury proposed that section 10(1)(o)(ii) of the Income Tax Act, No..

JUTA'S TAX LAW REVIEW

South Africa Proposed repeal of foreign employment. TAX GUIDE 2017|2018 - 1 - CONTENTS. INCOME TAX RATES 2 DIFFERENT TYPES OF ENTITIES considered a resident and therefore subject to South African income tax an individual must be either “ordinarily resident” in South Africa (have a permanent home in South Africa) or be “physically present” in the Republic of South Africa. Physically present requires that an individual be present in, • Income Tax Act 58 of 1962/ITA (as amended) • Value-Added Tax Act 89 of 1991/VAT (as amended) • Draft Rates and Monetary Amounts and Amendments of Revenue Laws Bill, February 2017 • Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 • Taxation Laws Amendment Act 15 of 2016 • Tax Administration Laws Amendment Act 16 of 2016 • National Budget Speech, 2017.

South African Budget 2017/18 - budget speech summary and tax proposals. SADC Taxes and commentaries . International Taxation. Carbon Tax - Guides and Policy formulation, an instruction manual. Tax cases play a large part in the interpretation of tax legislation. Knowing the basic principles of taxation and the associated tax cases, is a prerequisite for effective tax planning. Welcome to SA Tax and Exchange Control Alert 22 February 2017 SPECIAL EDITION Budget Speech INTRODUCTION In terms of s64E of the Act, dividends tax is levied on the

©Sage South Africa - February 2017 5 This will apply to retirement funds other than a “pension fund”, “pension preservation fund”, “provident fund”, “provident preservation fund” and/or “retirement annuity” as defined in section 1 of the Income from the Income Tax Act and will be dealt with as a reportable arrangement in terms of the Tax Administration Act. A six-month amnesty period will apply between 1 October 2016 and 31 March 2017 for those with undeclared offshore income and assets to regularise their affairs. It is proposed that a mechanism be developed to allow for a refund of interest withholding tax paid where the payor

Income Tax Legislation (Amendment) Bill 2017 Explanatory Memorandum c Page v Commissioners, in light of the amendment to section 88 (Income Tax Commissioners) of the Income Tax Act 1970 having empowered the Treasury to make regulations generally for the purpose of prescribing the practice and procedure of the Commissioners. 15. The resulting Act is not expected to have any human … South African tax affairs regularised, with effect from 1 October 2016, and limited to a period of 6 months, non-compliant individuals and companies will be given the opportunity to regularise foreign assets and income. General corporate tax proposals suspends payments. It is proposed that a concession Avoidance schemes in respect of share disposals: Potential tax consequences on the …

Trusts – the new position On 19 January 2017 the Taxation Laws Amendment Act, No 16 of 2016 (2016 Amendment Act) came into effect. The 2016 Amendment Act introduced s7C into the Income Tax Act, No 58 of 1962 (Act) which provision will come into effect on 1 March 2017. The Income Tax Amendment Act 10 2017.pdf. Link to related legislation: Income Tax Act 1997 . In force: Yes. Long title: An Act to amend the Income Tax Act, Cap. 340 to provide for the exemption from payment of income tax on income accrued by a body established by an Act of Parliament to regulate the conduct of professionals; to provide for the exemption from tax of the income of Bujagali Hydro

Ruling. 1. This Determination sets out the amounts that the Commissioner considers are reasonable (reasonable amounts) for the substantiation exception in Subdivision 900-B of the Income Tax Assessment Act 1997 (ITAA 1997) for the 2017-18 income … The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9.

The Milnerton Estates Limited v The Commissioner for the South African Revenue Services (1159/2017) Appealed from Tax Court Date to be heard: 06 November 2018 Navsa ADP, Wallis JA, Mathopo JA, Matojane AJA, Nicholls AJA Tax law – Income Tax – s 24(1) of the Income Tax Act 58 of 1962 – the issue is whether the proceeds from a sale of immovable property had, on general tax … income tax purposes in Romania and paying tax on a net basis, by deducting expenses related to the carrying out of activities; otherwise, withholding tax is applicable on the gross income …

Tax and Exchange Control Alert 22 February 2017 SPECIAL EDITION Budget Speech INTRODUCTION In terms of s64E of the Act, dividends tax is levied on the Tax and Exchange Control Alert 22 February 2017 SPECIAL EDITION Budget Speech INTRODUCTION In terms of s64E of the Act, dividends tax is levied on the

One has a legal obligation, regulated by the Income Tax Act, to submit returns in respect of income derived from either employment or the rendering or a service on a yearly basis ” South African tax affairs regularised, with effect from 1 October 2016, and limited to a period of 6 months, non-compliant individuals and companies will be given the opportunity to regularise foreign assets and income. General corporate tax proposals suspends payments. It is proposed that a concession Avoidance schemes in respect of share disposals: Potential tax consequences on the …

Income Tax Legislation (Amendment) Bill 2017 Explanatory Memorandum c Page v Commissioners, in light of the amendment to section 88 (Income Tax Commissioners) of the Income Tax Act 1970 having empowered the Treasury to make regulations generally for the purpose of prescribing the practice and procedure of the Commissioners. 15. The resulting Act is not expected to have any human … South African tax affairs regularised, with effect from 1 October 2016, and limited to a period of 6 months, non-compliant individuals and companies will be given the opportunity to regularise foreign assets and income. General corporate tax proposals suspends payments. It is proposed that a concession Avoidance schemes in respect of share disposals: Potential tax consequences on the …

All worldwide income received by or accrued to X, on or after 1 October 2008 (excluding certain income that may be exempt) will be included in the taxable income of X for the tax years ending on 28 February 2009 and thereafter. A natural person, who emigrates from South Africa to another country, will cease to be a resident as from the date that he or she emigrates. Ruling. 1. This Determination sets out the amounts that the Commissioner considers are reasonable (reasonable amounts) for the substantiation exception in Subdivision 900-B of the Income Tax Assessment Act 1997 (ITAA 1997) for the 2017-18 income …

OFFICE OF THE CHIEF EXECUTIVE OFFICER. 1 Income-tax. AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2017 Bill No.12 of 2017 THE FINANCE BILL, 2017 A BILL to give effect to the financial proposals of the Central Government for the financial year 2017-2018., 1 Income-tax. AS INTRODUCED IN LOK SABHA ON 1ST FEBRUARY, 2017 Bill No.12 of 2017 THE FINANCE BILL, 2017 A BILL to give effect to the financial proposals of the Central Government for the financial year 2017-2018..

1364 Budget Day Alert February 2017 NEW

income tax act south africa 2017 pdf

Africa Tax In Brief – January 2017 Tax - Worldwide. As part of South Africa’s reform of taxation of trusts, to limit the use of trusts as vehicles to avoid Estate Duty or Capital Gains Tax, National Treasury has introduced section 7C of the Income Tax Act No 58 of 1962 (the Act)., This gazette is also available free online at www.gpwonline.co.za STAATSKOERANT, 28 JULIE 2017 No. 41009 173 SCHEDULE PROTOCOL AMENDING THE AGREEMENT BETWEEN THE REPUBLIC OF SOUTH AFRICA.

Africa Tax In Brief – January 2017 Tax - Worldwide. In South Africa, Value Added Tax (VAT) is imposed on the consumption of goods or services in South Africa. This is achieved by imposing VAT on the local supply of goods or services by South African VAT vendors, and levying VAT on the importation of goods and certain services into South Africa. Only goods or services supplied in the course of carrying on a VAT enterprise are subject to VAT, Foreign employment income: proposed repeal of exemption in section 10(1)(o)(ii) 24 July 2017 In brief In terms of section 10(1)(o)(ii) of the Income Tax Act, 1962 (A ct No. 58 of 1962) (“the Act”), South African residents are entitled to an exemption in respect of remuneration received or accrued in respect of services rendered outside South Africa. In order to qualify for the exemption.

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income tax act south africa 2017 pdf

With reference to the OECD’s Common Reporting. • Income Tax Act 58 of 1962/ITA (as amended) • Value-Added Tax Act 89 of 1991/VAT (as amended) • Draft Rates and Monetary Amounts and Amendments of Revenue Laws Bill, February 2017 • Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 • Taxation Laws Amendment Act 15 of 2016 • Tax Administration Laws Amendment Act 16 of 2016 • National Budget Speech, 2017 23/11/2017 · The new South African Taxation Laws Amendment Bill, 2017 (the "TLAB 2017") was released following the public consultation process for the Draft Taxation Laws Amendment Bill, 2017 (the "Draft TLAB 2017")..

income tax act south africa 2017 pdf


South African Budget 2017/18 - budget speech summary and tax proposals. SADC Taxes and commentaries . International Taxation. Carbon Tax - Guides and Policy formulation, an instruction manual. Tax cases play a large part in the interpretation of tax legislation. Knowing the basic principles of taxation and the associated tax cases, is a prerequisite for effective tax planning. Welcome to SA The Income Tax Amendment Act 10 2017.pdf. Link to related legislation: Income Tax Act 1997 . In force: Yes. Long title: An Act to amend the Income Tax Act, Cap. 340 to provide for the exemption from payment of income tax on income accrued by a body established by an Act of Parliament to regulate the conduct of professionals; to provide for the exemption from tax of the income of Bujagali Hydro

South Africa: Proposed repeal of foreign employment income exemption July 26, 2017 In brief South African residents are entitled to an exemption for remuneration received or accrued with respect to services rendered outside South Africa pursuant to section 10(1)(o)(ii) of the Income Tax Act, 1962 (Act No. 58 of 1962.) In order to qualify for the exemption, certain requirements (mainly relating Download the PDF version of Juta's Tax Law Review March 2017 LEGISLATION The following fiscal legislation has been promulgated since the last issue of the Juta Tax Law Review: Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 (promulgated in GG 40560 of 19 January 2017) Rates and Monetary Amounts and Amendment of Revenue Laws (Administration) Act 14 of …

Income Tax Legislation (Amendment) Bill 2017 Explanatory Memorandum c Page v Commissioners, in light of the amendment to section 88 (Income Tax Commissioners) of the Income Tax Act 1970 having empowered the Treasury to make regulations generally for the purpose of prescribing the practice and procedure of the Commissioners. 15. The resulting Act is not expected to have any human … The Income Tax (Amendment) Bill 2017 (the Bill) was read for the second time and passed in Parliament in October 2017. Besides the tax changes announced in the 2017 …

Foreign employment income: proposed repeal of exemption in section 10(1)(o)(ii) 24 July 2017 In brief In terms of section 10(1)(o)(ii) of the Income Tax Act, 1962 (A ct No. 58 of 1962) (“the Act”), South African residents are entitled to an exemption in respect of remuneration received or accrued in respect of services rendered outside South Africa. In order to qualify for the exemption African source was not subject to tax in South Africa. As a result, section 10(1)(o) of the As a result, section 10(1)(o) of the Act granted an income tax exemption only in respect of foreign employment income

March 2017/18 A pocket guide to SOUTH AFRICAN TAXES 1 OF 40. Use of this guide 3 The 2017/2018 budget 4 How to calculate income tax 5 Gross income and residence 6 Income 9 Deemed income 10 Taxable income 11 General deductions 12 Specific deductions 14 Allowable deductions for salaried employees 18 Deductions not allowed 19 Sequence of deductions 19 Fringe benefits 20 Lump sums … Foreign employment income: proposed repeal of exemption in section 10(1)(o)(ii) 24 July 2017 In brief In terms of section 10(1)(o)(ii) of the Income Tax Act, 1962 (A ct No. 58 of 1962) (“the Act”), South African residents are entitled to an exemption in respect of remuneration received or accrued in respect of services rendered outside South Africa. In order to qualify for the exemption

Tax Alert National Tax Technical www.pwc.com Anti-avoidance rules for trusts: Refinement of section 7C 29 August 2017 In brief Section 7C of the Income Tax Act, 1962 (Act No. 58 of 1962) (“the Act”) was introduced in 2016 in • Income Tax Act 58 of 1962/ITA (as amended) • Value-Added Tax Act 89 of 1991/VAT (as amended) • Draft Rates and Monetary Amounts and Amendments of Revenue Laws Bill, February 2017 • Rates and Monetary Amounts and Amendment of Revenue Laws Act 13 of 2016 • Taxation Laws Amendment Act 15 of 2016 • Tax Administration Laws Amendment Act 16 of 2016 • National Budget Speech, 2017

6/02/2017 · The new South Africa/Zimbabwe Income Tax Treaty, 2015 entered into force on 1 December 2016, replacing the South Africa/Zimbabwe Income Tax Treaty, 1965. The new treaty generally applies from 1 February 2017 for withholding taxes and with regards to other taxes in respect of years of assessment commencing on or after 1 January 2017. ©Sage South Africa - February 2017 5 This will apply to retirement funds other than a “pension fund”, “pension preservation fund”, “provident fund”, “provident preservation fund” and/or “retirement annuity” as defined in section 1 of the Income

The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9. Income Tax and ETI Amendments 2017/2018 Page 2 of 17 1 Employment Tax Incentive (ETI) Changes The Taxation Laws Amendment Act, 2016, promulgated on 19 January 2017 in …

Income Tax Legislation (Amendment) Bill 2017 Explanatory Memorandum c Page v Commissioners, in light of the amendment to section 88 (Income Tax Commissioners) of the Income Tax Act 1970 having empowered the Treasury to make regulations generally for the purpose of prescribing the practice and procedure of the Commissioners. 15. The resulting Act is not expected to have any human … One has a legal obligation, regulated by the Income Tax Act, to submit returns in respect of income derived from either employment or the rendering or a service on a yearly basis ”

The South African Revenue Service directive on the treatment of doubtful debts for banks will be reviewed and incorporated into the Income Tax Act. Moreover, it is proposed that section 24JB will exclude impairment adjustments in terms of IFRS 9. From a South African Revenue Service and ultimately the Department of Treasury’s point of view, it is an important source of income for them. In the Act, section 7C specifically address the issue whereby a loan, credit or an advance is granted to a Trust at no interest or below market related interest rates.

South African tax affairs regularised, with effect from 1 October 2016, and limited to a period of 6 months, non-compliant individuals and companies will be given the opportunity to regularise foreign assets and income. General corporate tax proposals suspends payments. It is proposed that a concession Avoidance schemes in respect of share disposals: Potential tax consequences on the … Currently, if a South African resident renders employment services in a foreign country for more than 183 days a year , the foreign employment income earned is exempt from tax…