News Africa
SARS - Withdrawal of Practive Note 2 / Income Tax Update / Tax Guide for Small Businesses 2019
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August 26th, 2019
Withdrawal of practice note 2 of 1996 | income tax: determination of taxable income where financial assistance has been granted by a non-resident of the Republic to a resident of the Republic.
withdrawn on 5 August 2019 with effect from years of assessment commencing on or after 1 April 2012.
South Africa Amends The Taxation Law To Address Dividend Stripping Scheme
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June 13th, 2019
The National treasury of Republic of South Africa published an initial batch of the 2019 draft Taxation Laws Amendment Bill for public comment to cover specific provisions that require additional consultation. The prominent point of the amendment is about the measure taken by South African to address the abusive arrangement on dividend arrangement.
South Africa Mulls To Broaden The Reach Of Its Transfer Pricing Rules
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February 21st, 2019
South Africa released its 2019 budget review in February 20, which outlines several international tax proposals for implementation or evaluation, including a possible change to the Income Tax Act’s transfer pricing rules and adoption of OECD’s model mandatory disclosure.
Broadening the Definition of ‘Affected Transaction’ .
Tunisia Clarifies The Determination And Disclosure Of Ultimate Beneficiaries
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February 7th, 2019
In an effort to prevent money laundering and fight the financing of terrorist activities, Tunisia has recently adopted requirements for the identification and registration of the ultimate beneficial owners of corporations and other entities registered in Tunisia.
Ultimate Beneficiaries .
SARS Announces Its Re-establishing The Large Business Unit And Illicit Economy Team
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August 28th, 2018
The SARS Acting Commissioner, Mr Mark Kingon, is on record as having recently informed Parliament’s Standing Committee on Finance that he will re-establish the Illicit Economy Team. It was also reported recently at the Commission of Inquiry into tax administration and governance at SARS that the Acting Commissioner for SARS has already begun a process to re-establish the Large Business Unit.
Africa Intensifies Fight Against Tax Evasion And Illicit Financial Flows Outbound
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August 2nd, 2018
The 5 th meeting of the Africa Initiative was held in Accra, Ghana and marks another step in the fight against tax evasion in Africa and reinforces the Yaoundé Ministerial Declaration, signed by 21 African countries, which calls upon the African Union to lead in the tax transparency agenda in Africa.
Africa Initiative .
Reducing The Cost Of Transfer Pricing Compliance For MNEs
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June 13th, 2018
Many countries have become more focused on combating tax avoidance. As such, transfer pricing compliance has become much more burdensome due to substantial documentation requirements and multiple filing deadlines.
Africa Suffered A Financial Leak Of $1.4 Trillion During The Past 30 Years
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April 10th, 2018
Logan Wort, the Executive Secretary of African Tax Administration Forum (ATAF) has recently disclosed that the amount outflowing from Africa ranges from $1.2 trillion to $1.4 trillion since 1980 to 2009 due to illegal financial practice, mostly tax evasion and tax avoidance.
South Africa Announces Substantively Enacted Tax Rates And Tax Laws
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March 22nd, 2018
The Minister of Trade and Industry in South Africa published the final notice on Financial Reporting Pronouncement 1 (FRP 1) which has been issued by the Financial Reporting Standards Council. The notice provides the substantively enacted tax rates and tax laws under IFRS and IFRS for small and medium enterprises.
Increased controversy in Africa after BEPS – An analysis of recent TP disputes
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November 30th, 2017
A webinaron increased controversy expected after BEPS and the MLI in Africa, and an update on current TP disputes going to court in Africa.
9 African jurisdictions have signed the MLI: South Africa, Nigeria, Seychelles, Mauritius, Cameroon, Egypt, Gabon, Burkina Faso and Senegal.

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