The Mineral and Petroleum Resources Royalty Act, No. 28 of 2008 (as amended), (the Royalty Act) imposes the obligation on a person to 'pay a royalty for the benefit of the National Revenue Fund in respect of the transfer of a mineral resource extracted within the Republic'.
Shepstone & Wylie Attorneys' Johan Kotze and Jenifer Woker successfully defended Digicall Solutions (Pty) Ltd in its recent dispute against SARS. This Western Cape High Court case dealt with trafficking in tax losses.
Under the Taxation Laws Amendment Act, the word 'related' is now to be substituted by the word 'similar', so that the definition of interest will read "interest or similar finance charges". This change is more than likely to narrow the courts' previous interpretations.
Clarification on how interest on lump sum benefits should be treated.
Generally, the export of movable goods qualifies for VAT zero-rating. An exception can be found in section 11(1)(m) of the VAT Act, where movable goods are supplied to a customs controlled area enterprise or an Industrial Development Zone (IDZ) operator in South Africa.
When two people transact, they normally negotiate the terms in good faith, but things happen to transactions and the seller may agree to repay part of the purchase price to the purchaser.
As early as 1926 Judge Stratford held in Farrar's Estate v CIR that '[the] governing rule on interpretation is to endeavour to ascertain the intention of the law-maker from a study of the provisions of the enactment in question'.
