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Die belastinghantering van buitelandse valutaverpligtinge aangegaan deur 'n maatskappy vir die verkryging van kapitaalbates (Afrikaans)Bosman, Jan Andries Christoffel 08 April 2009 (has links)
AFRIKAANS : Die doelwit van hierdie studie is om die belastinghantering van buitelandse valutaverpligtinge wat ‘n maatskappy aangaan om ‘n kapitaalbate te verkry, ingevolge die bepalings van die Inkomstebelastingwet nr. 58 van 1962 (die Wet) te ontleed en om te bepaal in watter opsig die hantering ooreenkom met die belastingwetgewing in die Verenigde Koninkryk en met die vereistes van International Financial Reporting Standards. Die navorsing ontleed die bepalings van artikel 24I van die Wet om vas te stel wanneer valutaverskille op ‘n buitelandse valutaverpligting van ‘n kapitale aard by die berekening van inkomste in ag geneem word en wanneer nie. Valutaverskille word by die vasstelling van belasbare inkomste in berekening gebring, ongeag of die valuta-item van ‘n kapitale of inkomste-aard is en ongeag of dit gerealiseerd of ongerealiseerd is. Valutaverskille op valuta-items word tot ‘n latere datum uitgestel waar die valuta-item ‘n geaffekteerde kontrak is, waar die gepaardgaande bate later in gebruik geneem word en waar die valutaverskille op ‘n transaksie tussen verbonde persone ontstaan. Valutaverskille word nie teen inkomste in berekening gebring waar ‘n valuta-item aangewend word om bates te verkry wat in artikel 24I(11) aangedui word nie. Die betrokke bates word vasgestel met verwysing na die uitsonderings op die bepaling. Artikel 24I(11) staan in wisselwerking met paragraaf 43 van die Agtste Bylae van die Wet wat die insluiting of uitsluiting van valutaverskille by die vasstelling van kapitaalwins of -verlies op ‘n vervreemde bate bepaal. Eweredige belastinghantering word soms nie bereik nie sodat die valutaverskil op die verpligting buite rekening gelaat word terwyl die valutaverskil op die kapitaalwins of - verlies in ag geneem word met vervreemding. Die algemene omskakelingsbepalings van artikel 25D van die Wet wat direk in paragraaf 43 van die Agtste Bylae toegepas word, gebruik nie die begrippe van IFRS nie. Die belastingbepalings volg die rekeningkundige hantering ingevolge International Accounting Standards 21 en 39, maar verskil daarvan omdat IFRS nie valutaverskille op ‘n buitelandse valutaverpligting buite rekening laat nie. Artikel 24I(11A) volg IFRS uitdruklik wanneer valutaverskille op ‘n dekkingsinstrument ontstaan om buitelandse ekwiteitsaandele te verkry. Die wetgewing van die Verenigde Koninkryk hanteer valutaverskille as deel van die regimes van leningsverhoudings en afgeleide kontrakte. Debiete en krediete op leningsverhoudings en afgeleide kontrakte word bepaal volgens IFRS. Die debiete en krediete sluit enige valutaverskille in wat ontstaan op leningsverhoudings en afgeleide kontrakte in buitelandse valutatransaksies, en ongeag of die verskille van ‘n kapitale- of inkomste-aard is en ongeag of dit gerealiseerd of ongerealiseerd is. Die wetgewing wyk dikwels van IFRS af en bevat spesiale berekeningsbepalings vir omstandighede waar belastingbeginsels gevolg word. Die omskakelingsregulasies volg IFRS en identifiseer ‘n aantal kategorieë vir die omskakeling uit ‘n funksionele geldeenheid na sterling. Spesiale voorsiening word gemaak vir die uitstel en latere inagname van valutaverskille wat in ekwiteit gepaar is. Valutaverskille op ‘n buitelandse valutaverpligting van ‘n kapitale aard word by die berekening van belasbare inkomste in ag geneem, onderhewig aan die genoemde bepalings. Die Suid-Afrikaanse belastinghantering is gebaseer op wetgewing wat in 1993 ingestel is en gereeld daarna gewysig is. Die bepalings weerspieël nie deurlopend die rekeningkundige begrippe en beginsels van IFRS nie. Die basiese hantering kom wel ooreen met IFRS. Die wetgewing van die Verenigde Koninkryk is grootliks gewysig in 2002 en word vanaf 2004 gereeld gewysig om IFRS-beginsels en jargon te akkommodeer. Valutaverskille op buitelandse valutaverpligtinge van kapitale aard word in beide lande in beginsel in berekening gebring, onderworpe aan spesiale bepalings. Daar word aanbeveel dat die bepalings van die Wet grondig hersien word om die nuwe vereistes van IFRS deurlopend te weerspieël. In hierdie verband kan die wetgewing van die Verenigde Koninkryk waardevolle insigte vir vernuwing bied. ENGLISH : The objective of this study is to analyse the tax treatment of foreign currency liabilities that a company incurs to acquire a capital asset, in terms of the provisions of the Income Tax Act no. 58 of 1962 (the Act) and to determine in what respect the treatment agrees with the tax provisions of the United Kingdom and with the requirements of International Financial Reporting Standards. The research analyses the provisions of section 24I of the Act to determine when an exchange difference on a foreign currency liability of a capital nature is included in the computation of income and when it is excluded. Exchange differences are brought into account in determining taxable income, regardless of whether they are of capital or an income nature, and regardless of whether they are realised or unrealised. Exchange differences on exhange items are deferred till a later date where the exchange item is an affected contract, where the matched asset is brought into use at a later date, and where exchange differences arise in a transaction between related persons. Exchange differences are not brought into account against income where an exchange item is used to acquire assets that are indicated in section 24I(11). The relevant assets are identified with reference to the exceptions on the subsection. Section 24I(11) interacts with paragraph 43 of the Eighth Schedule of the Act that rules the inclusion or exclusion of exhange differences in determining the capital gain or loss arising from the disposal of an asset. Mismatching for tax purposes occurs in certain cases where the exchange difference on a liability is disregarded while the exchange difference is included in determining the capital gain or loss on disposal. The general conversion rules of section 25D of the Act that is applied directly in paragraph 43 of the Act, do not use the terms of IFRS. The tax provisions follow the accounting treatment according to International Accounting Standards 21 en 39 in general, but deviates from IFRS as the latter does not exclude exchange differences on a foreign currency liability. Section 24I(11A) follows IFRS explicitly where exchange differences arise on hedging instruments for the acquisition of foreign equity shares. The tax provisions of the United Kingdom treat exchange differences as part of the regimes of loan relationships and derivative contracts. Debits and credits arising on loan relationships and derivatives are determined according to IFRS. The debits and credits include any exchange differences that arise on loan relationships and derivatives in foreign exchange transactions, irrespective of whether the difference is of a capital or income nature, and irrespective of whether it is realised or unrealised. The provisions often deviate from IFRS and special computational rules apply where tax principles are adhered to. The conversion regulations follow IFRS and identify various categories for the conversion from the functional currency to sterling. Special rules apply where exhange differences that are matched in equity are disregarded and at a later date brought back into account. Exchange differences arising on a foreign currency liability of a capital nature are brought into account in determining chargeable income, subject to the mentioned provisions. The tax treatment in South Africa is based on provisions that were introduced in 1993 and have subsequently been extensively amended. The provisions do not pervasively reflect the accounting terms and principles of IFRS. The basic treatment, however, is in agreement with IFRS. The provisions in the tax law of the United Kingdom were extensively modified in 2002 and have been regularly amended from 2004 onwards to accommodate the principles and jargon of IFRS. Exchange differences arising on foreign currency liabilities are in principle brought into account in both countries, subject to special provisions. It is recommended that the provisions of the Act should be amended profoundly to pervasively reflect the new requirements of IFRS. In this regard the tax provisions of the United Kingdom could provide valuable insight for renewal. Copyright / Dissertation (MCom)--University of Pretoria, 2009. / Taxation / unrestricted
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