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PKF South Africa

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2017 - 28 Aug 2017

PKF National News 2017

In this issue: - New Partners in the PKF Family - New Addition to PKF SA Network - 100% Success Rate for Radameyer Wesson - PE’s Beck Co-Authors Book - PKF Inform at Client Breakfasts - Durban's Kyle Moodley Placed on Roll of Honour - PKF PE Get Active - Paul Gering Enlightens Hundreds at the Durban ICC - Durban Team take on the Mile - New Look for PKF Recruitment

2017 - 10 Jul 2017

The OECD guidelines for thin capitalisation – Should we be worried?

Companies are funded in two ways, namely through debt and equity. In certain instances interest payments incurred in the production of income are deductible for tax purposes, while distributions are not tax deductible. The way in which a company is structured therefore raises tax concerns regarding the balance between debt and equity. Thin capitalization is governed by the general transfer pricing provisions of the Income Tax Act. The Organisation for Economic Co-operation and Development (OECD) has clear guidelines on thin capitalization.

2017 - 07 Jul 2017

Tone at the top Volume 5

“People behave in the way they are rewarded to behave. If leaders are incentivised to focus on one goal above all other, they do not necessarily focus on how that goal is achieved. Incentives must be aligned to performance – but performance with integrity.” - Holly tucker

2017 - 23 Jun 2017

Submit your 2017 Income Tax Return #submityourreturn #avoidpenalties

The tax season for individuals to submit their Income Tax returns begins on 1 July 2017. We provide below answers to some of the most common queries individuals may have.

2017 - 01 Jun 2017

Independent Trustees – How important are they?

Many family trusts are formed without the appointment of an independent trustee which can prove disastrous in instances where a dispute arises and the validity of the trust is questioned. In South Africa there have been many cases which allowed for the veneer of the trust to be pierced and the trust been deemed to be nothing more than the “alter-ego” of the person controlling such trust and the assets of the trust being deemed to belong to that person.

2017 - 01 Jun 2017

Relaxation of Exchange Control Rules

On 19 April 2017, an amended Currency and Exchange Manual for Authorised Dealers (“the Manual”) was issued to give effect to the further amendments released pertaining to the permissions and conditions applicable to foreign exchange transactions.

2017 - 01 Jun 2017

Capital Gains Tax Consequences on the Cancellation of Disposals

Generally for Capital Gains Tax (“CGT”) purposes when an asset is disposed of for more than the base cost, CGT is triggered in the year of the disposal. In the recent judgement of New Adventure Shelf V CSARS (310/2016) [2017] ZASCA 29 the Supreme Court of Appeal confirmed the tax the position where an asset is disposed

2017 - 01 Jun 2017

BEWARE OF CAPITAL GAINS TAX WHEN YOU EMIGRATE

While many people immigrate to South Africa, we also see many of our clients emigrating from South Africa. And while formal migration-status is not necessarily linked to tax residency, the time of tax migration often coincides with formal emigration linked to passport or visa status. Many are surprised to learn (often after the fact) that emigration for tax residency purposes gives rise to tax consequences in South Africa, and specifically to capital gains tax (“CGT”) consequences in the form of so-called “exit charges”.

2017 - 24 May 2017

Tone at the top Volume 4

Where reputational risk is a strong factor in the managing of a business, a strong culture of ethics and compliance will be the cornerstone of the foundation. What has been proved over the years is that “a feel good” culture should be replaced by an ethical and compliant culture which can be defined, measured and improved.

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