Sat, Jun 22, 2024

The official Financial Regulation Journal of SAIFM

Tax and exchange control alert

Expectations exceeded? SARS releases revenue data for 2019/2020

On 1 April 2020, the South African Revenue Service (SARS) issued a media statement announcing the preliminary revenue outcomes for the 2019/2020 financial year (Media Statement).

Foreign exchange and local change: The Supreme Court of Appeal considers section 24I of the Income Tax Act and the effect of COVID-19 on time periods in the Tax Administration Act

In the recent Supreme Court of Appeal (SCA) judgment, Telkom SA SOC Limited v The Commissioner for the South African Revenue Service [2020] ZASCA 19 (25 March 2020), the SCA dealt with two separate legal issues stemming from an appeal and a cross-appeal brought by the respective parties to the case.

Donations and funds established to assist with the COVID-19 disaster relief efforts: The special tax dispensation

In the Tax & Exchange Control Alert of 3 April 2020, CDH briefly discussed the proposed tax relief in relation to COVID-19 disaster relief funds and the making of donations to such funds, which is provided for in the 2020 Draft Disaster Management Tax Relief Bill (Draft Tax Relief Bill). We discuss this relief measure here in more detail.

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