Home Tags CDH
The South African Revenue Service (SARS) published Binding Private Ruling 290 (Ruling) on 24 January 2018.
On 24 November 2017, the Portfolio Committee on Trade and Industry published the draft National Credit Amendment Bill, 2018 for public comment.
Many residential property developers will kick off 2018 with a major cash flow challenge as a result of a substantial value added tax (VAT) liability which they may face in respect of the temporary letting of residential units which have been developed for resale.
Just before the holidays, on 18 December 2017, National Treasury published the draft regulations to the Financial Sector Regulation Act, 2017 (FSR Act) for public comment.
The Registrar of Securities Services has proposed a new code of conduct which participants in the securities financing market (Code of Conduct) will need to adhere to in future.
For purposes of determining the taxable income derived by any person from carrying on a trade, s11(c) of the Income Tax Act, No. 58 of 1962 (Act) provides for the deduction of legal expenses which arise in the course of or by reason of a taxpayer’s ordinary trading operations.