Tax Flash - June 2012

Subscribe to the Tax Flash newsfeed

In this June edition of Tax Flash we take a look at the Supreme Court of Appeal's recent judgment relating to the 'exit tax' levied on the deemed disposal of assets triggered by a person ceasing to be resident in South Africa. The judgment prompted an immediate response from the Ministry of Finance suggesting that legislative changes may be required to restore the exit tax to its intended status however the effect of the judgment on the exit tax is questionable.

Article 1: The Tradehold Case - a blow to exit tax?

The latest judgment from the Supreme Court of Appeal brought into focus the role played by double tax agreements in relieving taxpayers of the capital gains tax levied on the deemed disposal of their assets immediately prior to them ceasing to be resident in South Africa

Article 2: SARS increases VAT scrutiny

Our VAT department warns vendors of SARS' increased vigilance in ensuring VAT compliance.

Article 3: What's new from SARS?

We provide a summary of the more important recent releases on the SARS website for your easy reference.