Latest news from PKF VGA

13 12 2016

Offshore companies and doing business in South Africa - A Companies Act Perspective

According to the most recent statistics released by the South African Revenue Service, South Africa remains a net importer of goods and services. Put differently, one could say that South Africans are more often clients in cross-border transactions than they would be the service provider. Many of our clients operate in this space, including foreign incorporated companies which are doing business in South Africa. This article is aimed at those specific clients of ours: those clients doing business in South Africa through companies incorporated outside of South Africa.

13 12 2016

New Transfer Pricing Documents Required

The transfer pricing regime in the Income Tax Act, 58 of 1962, is regulated by section 31 of that Act. It in essence requires that cross-border transactions be entered into on an arm’s length basis where connected persons transact with one another. The obvious mischief sought to be countered is for connected persons to charge fees between one another to ensure that the party in the most tax beneficial regime is more profitable than the taxpayer in the more onerous tax jurisdiction.

13 12 2016

Asset-for-share transactions: Tax Free Restructure

The Income Tax Act, 58 of 1962, contains several so-called ‘group relief’ provisions in terms whereof corporate restructures can take place on a tax neutral basis.  One of these is if a transaction comprises an ‘asset-for-share transaction’, or put simply:  where a company purchases an asset in exchange for which that company agrees to issue shares to the seller.

02 10 2016

Sasfin MCEP Working Capital Facility re-opened

The Manufacturing Competitiveness Enhancement Programme (MCEP) offered incentives to stimulate growth, promote competitiveness and retain employment in the manufacturing sector.

25 09 2016

PKF Newsletter Edition 3 2016

For many years government has been hostile to trusts. In the latest draft Bill of 2016 taxation amendments, a provision has been inserted on Trusts.

23 09 2016

PKF Breakfast - Quinton Coetzee shares business principals that are 30000 years old

Quinton Coetzee delivered an entertaining presentation on the origins of the modern enterprise.

22 09 2016

PKF Breakfast - Dawie Roodt an economic outlook for SA

PKF Johannesburg hosted a breakfast at which Dawie Roodt, Chief Economist of the Efficient Group presented economic trends for South Africa over the next few years. The presentation provides business leaders with insights that will help them adapt to the consequences of erratic government policies that will probably lead to another downgrade.

12 09 2016


As you will recall in the Budget Speech the Minister of Finance proposed a Special Voluntary Disclosure Programme (SVDP) to enable South African resident to regularise foreign exchange transactions and the income tax consequences arising therefrom.

12 09 2016


The King reports over the last two decades have become locally and globally synonymous with good governance. To date the King Codes have had limited impact on small and medium enterprises (SMEs).

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