In line with SARS’ strategic objective of providing clarity and certainty through instruments such as advance rulings, government also proposes to introduce a legislative framework to empower SARS to conclude bilateral advance pricing agreements.
Continue readingChanges to retirement funds mainly relate to the new two-pot system, along with proposed updates to retirement tax and fund regulation.
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On 27 January 2023, the Minister of Finance repealed Regulation 33 of the Pension Funds Act, effective 20 February 2023.
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28 January, known as Data Protection Day) raises awareness of data privacy and promotes data protection best practices.
Continue readingOn 17 January 2023, the South African Revenue Service (SARS) released Interpretation Note 127 (Determination of the taxable income of certain persons from international transactions: intra-group loans) (IN127). The purpose of IN127 is to provide taxpayers with guidance on the application of the arm’s length principle, in the context of intra-group loans.
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Amendments to the FICA Regulations under sections 31 and 56 of the Financial Intelligence Centre Act take effect on 1 February 2023.
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