Legal and Policy - 25 March 2021

25 March 2021

SARS:

• SARSTC IT 24918 (IT) [2021] (Johannesburg) (18 March 2021)
• Whether the appellant was liable for capital gains tax under section 25B of the Income Tax Act

• Letter to trade - 13th Deferment payment at the end of the 2020/21 financial year

This letter serves as a reminder to all Customs clients who are deferment account holders to kindly adhere to the 13th deferment payment requirements, which becomes due by end of the financial year, 31 March 2021.

• Updated Tax Directives Interface Specification (IBIR-006 Rev 6.104) for enhancements​ to go-live within the first quarter of the 2021/22 financial year.
• Draft interpretation note – Deduction of medical lump sum payments

Due date for public comment: 28 May 2021

• Draft rule amendments under sections 64E and 120 – Accreditation

Due date for public comment: 9 April 2021

• Binding Private Ruling (BPR) 361 – Asset-for-share transaction followed by an unbundling transaction, the issue of capitalisation redeemable preference shares and the sale of shares to a third party

• Wenco International Mining Systems Ltd and Another v CSARS (59922/2019) [2021] ZAGPPHC 70 (19 January 2021)

Whether the VAT Ruling issued by the Commissioner for the South African Revenue Service to the first applicant should be declared unlawful and set aside; whether the respondent should be directed to issue a VAT Ruling allowing the second applicant to register for VAT as envisaged in the definition of “enterprise” in section 1(1) of the VAT Act, and whether second applicant should be directed to upon registration account for VAT at the zero rate on services supplied to the first applicant under section 11(2)(o) and section 11(2)(k)

• Request for Proposal (RFP)31/2020: RFP 31-2020: The upgrade of the SSA-Name3 matching tool used in the SARS integrated business register (IBR) and The procurement of maintenance and support for the SSA-Name3 matching tool used in the SARS integrated business register (IBR)
• Updated Venture Capital Companies (VCC) list​ with six new companies.

TREASURY:

• Money Smart Week South Africa (MSWSA) 2021 Event Programme
• Media Statement: 3rd Quarter Provincial Budgets and Expenditure Report

OECD:

• Webinar: In tax, gender-blind is not gender-neutral: how tax policy in times of COVID-19 must consider women - 26 March 2021
• Mongolian Tax Administration partners with international organisations and issues first transfer pricing tax assessment for USD 228 million -18 March 2021

ATAF:

• Launch of ATAF Women in Tax Network

TAX OMBUD:

• Office of the Tax Ombud Annual Performance Plan 2021/2022