Tax Risk Management

The Ever Flexible Foreign LLC originally POSTED BY JIMMY SEXTON | MAY 11TH, 2013 at  http://nomoretaxtrouble.com/blog/flexible-foreign-llc/ People form foreign Limited Liability Companies (LLC) for a variety reasons. They do this because foreign LLCs are very flexible entities and can be used for anything from holding a portfolio to running a business. Foreign LLCs generally offer superior [...]

Africa is certainly ‘hotting up’ on tax audits and disputes. Here are the interim tax survey results: 1. Do you have an in-house tax team? YES – 45% NO – 55% 2. What degree is your business tax compliant 100% – 33% Don’t know – 10% 3. Do you have a documented tax strategy? YES [...]

South Africa – Statistic extracts from the SARS Annual report Below are extracts from the most recent SARS Annual Report. Highlights: 843 972 taxpayers have been penalised with a total penalty amount of R3.9 billion 52.5% of taxpayers received administrative penalties and 96% of these taxpayers have paid R862 million for penalties due 26 612 audit [...]

THE MORE DETAILED EXPLANATIONS APPEAR BENEATH THIS LIST Australia Treasury consults on modern global economy Bahrain; Estonia Treaty between Bahrain and Estonia ratified by Bahrain Brazil Tax deduction for donations and sponsorships to PRONON and PRONAS – Regulations issued Czech Republic; Kazakhstan Protocol to treaty between Czech Republic and Kazakhstan – second round of negotiations [...]

IRS Data (Fiscal years 2011/12) statistics that affect your tax practice: No. of returns filed: 237,345,000 The estimated number of returns filed by the EAs and CPAs receiving this notice is estimated at a rounded up figure of 100,000 returns per year. Therefore, I am applying the IRS national statistics to this segment to give you [...]

Introduction to International Tax Law by Prof D N Erasmus with an extract of notes from TJSL Section 232 of the South African Constitution states: Customary international law is law in the Republic unless it is inconsistent with the Constitution or an Act of Parliament. 1.2 What is International Tax Law and 1.3 Introduction to Organizations [...]

In the attached judgment, the Western Cape High Court held that SARS was not a preferred creditor in business rescue proceedings. Please select to download: SARS v M.B. Beginsel N.O & Another

THIS IS A VERY INTERESTING READ: Taxes, Peacebuilding and Stability October 29, 2012 | 11:26am “The key test of a government’s legitimacy is tax collection.”[1]  When taxes “are raised and managed responsibly, they can have a significant impact on people’s trust in state institutions.”[2] Governments in conflict-affected states are confronted with the challenges of securing resources [...]

To receive a link to view the TP in Africa slides for Monday 22 October 2012, please email: daniel@dnerasmus.com with your email address: telephone number: company name: position: