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2021 Legal and Policy

Legal and Policy - 28 October 2021

Description

SARS:

  • 27 October 2021 – SARS will introduce enhancements to the Tax Directives process. The Trade Testing dates are 25 October 2021 – 22 November 2021 in order to prepare for the go-live date planned for December 2021. The exact date will be communicated closer to the time. An updated Interface Specification is available, see IBIR-006 Tax Directives Interface Specification Version 6.203.

Keep an eye on the I want a Tax Directive webpage.

CSARS v Samsung Electronics South African (Pty) Ltd (35255/2018) [2021] ZAGPPHC (12 October 2021)

CSARS v G W van der Merwe and Others (7255/2019) [2021] ZAWCHC (21 September 2021)

  • 25 October 2021 – To all Customs Clients, you are invited to a live Webinar on Registration, Licensing and Accreditation (RLA). As you may know, RLA, an electronic platform where registration and licensing applications are managed, was implemented in April 2020. There have been several enhancements to the platform since its implementation with the most recent enhancement implemented on 10 September 2021. This most recent enhancement will allow certain client types who have to renew their licenses at regular intervals to do so via RLA on eFiling for the first time. Current Customs clients will eventually be allowed to re-register on the RLA system, starting soon with clearing agents and rolling out to remaining clients in a phased approach.

Date: Thursday, 28 October 2021

Time: 16:00 – 18:00

YouTube: https://youtu.be/hYzDpwJwp94

If you have questions during the webinar, please email Questions@sars.gov.za.

  • 25 October 2021 – An upgraded e@syFile™ Employer version 7.1.9 was released. The changes are enhancement to the import validation process to include warnings when duplicate certificate numbers are used for different employees, updated EMP501 PDF form to include and display the reason provided for over- or understatement and adjustment to calculations on the EMP501 declaration page to include cents in amount fields. See the full release notes here.

To download the latest version of e@syFile, click here.

  • 22 October 2021 – The guide, How to Complete the Registration Amendments and Verification Form RAV01, has been updated with the latest information on the inclusion of Notice of Registration for Companies and Trusts Income Tax and PAYE (inclusive of SDL and UIF).
  • 21 October 2021 – The Taxpayer and Trader Education, and SMME segment will host a webinar on Turnover Tax for SMMEs to help taxpayers to comply with their tax obligations.

We invite you to join this webinar:
Date: Thursday, 21 October 2021
Time: 17:00-19:00
YouTube: https://youtu.be/BsCGWXwQuIg

  • 21 October 2021 – Customs & Excise Act, 1964 (Harmonised System 2022): The tariff amendment notices, scheduled for publication in the Government Gazette, relate to the amendments to –
  • Explanatory Memorandum, elaborates on specific changes included in the amendments of the Schedules to the Customs and Excise Act, 1964, in terms of the Harmonised System (HS) 2022;
  • Part 1 to Schedule No. 1, by the insertion, substitution and deletion of various notes, to implement the recommendations made by the WCO in order to implement HS 2022;
  • Part 1 to Schedule No. 1, to implement the recommendations made by the WCO, in order to implement HS 2022 on a 6-digit international level as well as the consequential amendment on a national (8-digit) level;
  • Part 2A to Schedule No. 1, as a consequence of the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Part 2B to Schedule No. 1, as a consequence of the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Part 3D to Schedule No. 1 as a consequence to the implementation of HS 2022 in Part 1 of Schedule No.;
  • Part 3E to Schedule No. 1, as a consequence of the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Part 1 to Schedule No. 3, as a consequence of the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Part 2 to Schedule No. 4, as a consequence of the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Part 3 to Schedule No. 5, as a consequence to the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Schedule No. 6, as a consequence to the implementation of HS 2022 in Part 1 of Schedule No. 1;
  • Correlation table – serves as a guide to assist with the transposition of goods on a national level but has no legal status;
  • Correlation table – serves as a guide to assist with the transposition of goods on a national level but has no legal status; and
  • FAQs for HS 2022

The aforementioned amendments are with effect from 1 January 2022.

Publication details will be made available later

  • 21 October 2021 – Customs & Excise Act, 1964 (EPA): The tariff amendment notice, scheduled for publication in the Government Gazette, relates to the amendments to –
  • Part 1 of Schedule No. 1, to give effect to the phase down of the rates of duty for 2022 in terms of the Economic Partnership Agreement (EPA) (with effect from 1 January 2022).

Publication details will be made available later

  • 20 October 2021 – Value-Added Tax Act, 1991

Binding General Ruling 57 – Whether the term “consideration” includes an amount of transfer duty for the purposes of calculating a notional input tax deduction on the acquisition of second-hand fixed property

Due date for public comment: 10 December 2021

  • 20 October 2021 – The Commissioner must approve the valuation of shares held by the deceased person in unlisted companies/close corporations or shareblock companies at the time of death.

For the valuations to be done, valuation packs together with the Valuation Pack Checklist, must be provided to the Share Valuations Team at the following address: estatesharevaluations@sars.gov.za.

Please note:

  • Emails should be kept to a size of 2MB per email. Emails should be numbered if send in batches to allow SARS to verify that all emails are received.
  • Shares/ members’ interests that are bequeathed to the surviving spouse and not sold by the estate, would no longer be required to be approved by SARS. (This will only be the case if the full portion of the shares/members’ interest that the deceased person held is bequeathed to the surviving spouse in terms of an approved Will or intestate succession. Should any portion go to another heir or the spouse obtains it in terms of a re-distribution agreement, then approval by SARS will be required.)

The requirements for each type of valuation pack are as follows:

Ordinary shares/Member’s interest

  • Valuation of the shares/member’s interest.
  • Should the shares be in a holding company of a group, then the consolidated financial statements should also be included.
  • The annual financial statements as close as possible to date of death.
  • The annual financial statements for the 2 years prior to date of death.
  • Copy of the letter of executorship, (as well as a letter indicating authority to deal with SARS in this regard or power of attorney given by the executor/executrix.)
  • Contact details of the executor/executrix.
  • If there is fixed property in the company/close corporation, then a REV246 form needs to be completed and attached.
  • If Patents in a company/close corporation, then a valuation thereof should be attached.

Preference Shares

  • Copy of the Memorandum, Articles and other documents that sets out the rights attached to the preference and other shares of the company.
  • Copy of the financial statements of the company as close as possible to the date of death.

Loan accounts

Please note that loan accounts are not approved by SARS and should be submitted to the Master of the High Court only.

For more information, see the Estate Duty webpage.

TREASURY:

ATAF:

OECD:

SARB:

TAX OMBUD:

AuthorSAICA
Date28 October 2021