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ENSafrica

Rental Income Tax

Following the Minister of Finance pronouncements in his 2021 budget speech, effective 1 January 2022, rental income now falls under the turnover tax regime with the obligation t..

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Webber Wentzel

Tax consequences of riot insurance payments | Tax Chronicles

​Businesses that are able to claim from the South African Special Risks Insurance Association (Sasria) for damage to premises or equipment from the July 2021 unrest need to be aware of the tax implications of payouts.

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Udo Udoma & Belo-Osagie

Finance Act 2021 – Major Highlights

The Finance Act 2021 (“FA 2021”) was signed by President Muhammadu Buhari on the 31st of December 2021 and took effect on the 1st of January 2022. The primary objective of the Act is to implement the 2022 Federal Budget of Economic Growth and Sustainability by amending 13..

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AVM Legal Network

Legal Regime of the Tax Identification Number

The Presidential Decree nr. 245/21, of October 4, regarding the Legal Regime of the Tax Identification Number, currently in force, aims, among others, to broaden the taxpayer base, establishing the procedures regarding the attribution, composition, obligatory mention, use..

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Vieira de Almeida

Angola: Proposal for the 2022 General State Budget Law

lt has recently been made available the Proposal for the 2022 General State Budget Law ("State Budget Proposal"). Among the proposed measures the following are to be highlighted:

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PLMJ

50% reduction in the VAT rate for products of the basic food basket

The Angolan Draft General State Budget for 2022 was approved at a meeting of the Council of
Ministers on 28 October. Among other provisions, it introduces a change to Value Added Tax (VAT) that is intended to boost the purchasing power of families in relation to essen..

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ENSafrica

Carbon Tax: Summary of selected recent developments

The Carbon Tax Act is a relatively recent piece of legislation having been passed into law with effect from 1 June 2019. It is likely that the pace of legislative amendments and administrative guidance will remain strong in the foreseeable future as organisations of all s..

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MMAN Advocates

Highlights of proposed changes to the Tax Appeals Tribunal Act

The Tax Appeals Tribunal (Amendment) Bill, 2021[1] (hereinafter, “the Bill”) proposes a raft of changes to the Tax Appeals Tribunal Act, 2013 (hereinafter, “the TAT Act”). The amendments are geared towards handing over the stewardship of the Tax Appeals Tribunal (hereinaf..

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ENSafrica

SCA decision in CSARS v Spur Group (Pty) Ltd

Taxpayers who have made contributions to, in particular, share incentive trusts and claimed a deduction under section 11(a) of the Income Tax Act, 1962 (“the Act”) on the basis that such payment was, inter alia, aimed at creating a “happy and contented” workforce through ..

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