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Taxation of illegal income: the duty to disclose income delivered from illegal activity and the constitutional right against self-incriminationMtwana, Samkelo Callaway 09 1900 (has links)
Mercantile law / LLM (Tax Law)
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The taxation of the “sharing economy” in South AfricaGumbo, Wadzanai Charisma January 2019 (has links)
The research examined whether the services provided by the “sharing economy” platforms are adequately dealt with by the current South African tax systems. In addressing this main goal, the research analysed how the South African tax systems deal with the income and expenses of Uber, Airbnb and their respective service providers. The research also investigated how South Africa could classify “sharing economy” workers and how this would affect the deductibility of the worker’s expenses. A brief analysis was made of the taxation of the “sharing economy” businesses in Australia and the United States of America. These countries have implemented measures to effectively deal with regulating the “sharing economy” businesses. An interpretative research approach was used to provide clarity on the matter. Documentary data used for the research consists of tax legislation, case law, textbooks, commentaries, journal articles and theses. The research concluded that the current taxation systems have loopholes that are allowing participants in the “sharing economy” to avoid paying tax in South Africa. The thesis recommends that the legislature could adopt certain measures applied in Australia and the United States of America to more effectively regulate “sharing economy” in South African and remedy the leakages the current tax systems suffer, causing SARS to lose potential revenue.
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The tax implications of non-resident sportspersons performing and earning an income in South AfricaWessels, Jacques January 2008 (has links)
As the number of non-resident sports persons competing in South Africa increases so does the need to tax them more effectively. It was for this reason that the South African legislature decided to insert Part IlIA into the Income Tax Act which regulates the taxation of non-resident sports persons in South Africa. The new tax on foreign sports persons, which came into effect during August 2006, is a withholding tax placing the onus upon the organizer of the event to withhold the tax portion of the payment to the non-resident sportsperson and pay it over to the revenue services. The rate of taxation has been set at 15 percent on all amounts received by or accruing to a foreign sportsperson. The question which the research addressed is whether this new tax will prove to be an effective tax, both from the point of view of its equity and the administration of the tax. In order to determine the impact of the new tax, it was compared to similar taxes implemented in the United Kingdom and Australia and also to other withholding taxes levied in South Africa. The new tax was also measured against a theoretical model for effectiveness, compared to the pre-August 2006 situation and to the taxation of resident sportsmen and women, using hypothetical examples. The major shortcomings of the new withholding tax are the uncertainty with regard to the intention of the legislature on matters such as the taxation of capital income versus revenue income, the question whether payments to support staff are included in the ambit of the new tax, the taxation of the award of assets in lieu of cash payments and the definition of a resident. A further area of concern is that the rate of taxation of 15 percent appears to be too low and creates horizontal inequity between the taxation of resident and non-resident sports persons. The new tax on non-resident sports persons may have its shortcomings but, depending upon the administrative and support structures put in place to deal with it, will be an effective tax. The rate at which the tax is levied could result in a less tax being collected than before but, with the reduced administrative cost of tax collection, the effective/statutory ratio of the tax could well be much higher than it was. This is a new tax in South Africa and certain initial problems are inevitable and will undoubtedly be solved as the administrators gain experience and as the case law governing this tax develops. / KMBT_363
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Tax Avoidance, Aggressive Tax Planning, and the United States’ Tax Cuts and Jobs Act of 2017 : An Investigation into Anti-Base Erosion and Anti-Profit Shifting StrategiesRosato, Andrea January 2022 (has links)
No description available.
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The knowledge of, and the attitude towards, taxation of South AfricansMyers, Graham Trevor 12 October 2012 (has links)
Submitted in fulfillment of the requirements of the Degree of
Doctor of Technology: Business Administration, Durban University of Technology, 2012. / In conversation, people often base their arguments on the assumption that the knowledge that one has about a subject influences one’s attitude about that subject. From this they deduce that education would alter the attitude that people have towards that subject; taxation is no different. Its complexity and equity are often used as major points of discussion.
This researcher chose to study income tax to determine if the knowledge that South Africans have of taxation in general influences their attitude towards taxation. It also determined which biographical details of people in South African influence their knowledge of, and their attitudes towards income tax.
It also tried to lay a foundation for future students in this field broad field of accounting who may continue this investigation so as to build a knowledge base of the subjects in the accounting fields.
A questionnaire was designed by asking registered master’s students in taxation to determine the major questions to be asked about the various taxation acts to establish their knowledge and attitudes. The additional information about other types of taxation was to be used in future research. These questions were discussed by all full-time staff and the questionnaire was limited to 20 questions in each category. A pilot study was then undertaken after which questions were further refined or deleted.
The population consisted of all the people living in South Africa. Within each of the nine provinces in South Africa a convenience sample was chosen. To each of these members of the sample a self-administered questionnaire was given. The raw data was captured using SPSS and then analysed extensively.
The results showed that knowledge of income tax was affected by age, race, and level of education, type of occupation the person is in, the province a person lived in and the income they earned.
Attitudes towards income tax were affected by age, race, occupation of the person, the province they come from and the income they earned.
The research indicated that there was relationship of 40 to 49 percent between the various biographical details of people in South African and the knowledge that they had of various sections of income tax act. There was also a 29 to 33 percent relationship between the biographical details of people in South Africa and the attitudes they have towards various statements about income tax.
There was a 20 to 30 percent relationship between the knowledge that respondents had of income tax and their attitude towards income tax.
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An analysis of sections 11D(1)(A) and 11D(5)(B) of the income tax Act No. 58 of 1962 as amendedStrauss, Carien 12 1900 (has links)
Thesis (MAcc)--Stellenbosch University, 2011. / ENGLISH ABSTRACT: In February 2007 section 11D was inserted into the Income Tax Act 58 of 1962 as
amended. The aim of the section was to encourage private-sector investment in
scientific or technological research and development (R&D). This was an indirect
approach by National Treasury to increase national scientific and technological R&D
expenditure in order to complement government expenditure on the subject matter.
Although section 11D provides generous income tax incentives, the interpretation
thereof was found to be a hindrance in attaining the goal sought by National
Treasury. This is due to the fact that this section demands a firm grasp of intellectual
property (IP) law, principles of tax, and technology in general. This is clearly shown
by the lapse in time (i.e. three years) between the passing of section 11D into law
and the release of the South African Revenue Services’ (SARS) final interpretation of
section 11D, i.e. Interpretation Note 50.
The release of Interpretation Note 50 in August 2009 sparked wide-spread
controversy among many a patent attorneys and tax consultants. The interpretation
of the section by SARS was found by many to be so draconian that it destroyed the
incentive entirely.
The objective of this study is to provide greater clarity on the areas of section 11D
which have been found to be onerous to taxpayers. Hence the meaning of “new”
and “non-obvious” in the context of a discovery of information as eligible R&D
activity1 was examined. Hereafter the ambit of the exclusion of expenditure on
“management or internal business process”2 from eligibility for the incentive in the
context of computer program development was examined.
It was established that the meaning of “novel” and “non-obvious” as construed by IP
jurisprudence could mutatis mutandis be adopted for purposes of interpreting section
11D(1) of the Income Tax Act. Therefore, information would be regarded as “new” if
it did not form part of the state of the art immediately prior to the date of its discovery. The state of the art was found to comprise all matter which had been made available
to the public (both in the Republic and elsewhere) by written or oral description, by
use or in any other way. Information would also be regarded as non-obvious if an
ordinary person, skilled in the art, faced with the same problem, would not have
easily solved the problem presented to him by having sole reliance on his
intelligence and what was regarded as common knowledge in the art at the time of
the discovery.
It was submitted that in construing the meaning of the “management or internal
business process” exclusion, the intention of the lawgiver should be sought and
given effect to. The Explanatory Memorandum issued on the introduction of section
11D states that the lawgiver’s intention with the section was to ensure that South
Africa is not at a global disadvantage concerning R&D. The R&D tax legislation of
Australia, the United Kingdom and Canada was therefore examined to establish the
international bar set in this regard.
SARS is of the view that the “management or internal business process” exclusion
applies to the development of any computer program (with the said application)
irrespective of whether the program is developed for the purpose of in-house use,
sale or licensing. However, it was found that such a restrictive interpretation would
place homebound computer development at a severe disadvantage when compared
with the legislation of the above mentioned countries. In order to give effect to the
intention of legislature, it was submitted that the exclusion provision should be
construed to only include the development of computer programs for in-house
management or internal business process use. Computer programs developed for
the said application, but for the purpose of being sold or licensed to an unrelated
third party, should still be eligible for the R&D tax incentive. / AFRIKAANSE OPSOMMING: Artikel 11D is gevoeg tot die Inkomstebelastingwet 58 van 1962 gedurende
Februarie 2007. Die wetgewing het ten doel om privaatsektor investering in
tegniese en wetenskaplike navorsing en ontwikkeling (N&O) aan te moedig.
Nasionale Tesourie dra dus op ‘n indirekte wyse by tot die hulpbronne wat die
regering op nasionale vlak aan tegniese en wetenskaplike N&O bestee in ‘n
gesamentlike poging om N&O in Suid-Afrika te stimuleer.
Artikel 11D hou op die oog af baie gunstige inkomstebelasting aansporings in. Dit
wil egter voorkom asof die interpretasie daarvan as ernstige struikelblok dien in die
bereiking van die doel wat Nasionale Tesourie voor oë gehad het. Dit kan
toegeskryf word aan die feit dat die artikel ‘n wesenlike begrip van intellektuele
eiendom (IE) wetgewing, belasting beginsels en tegnologie in die algemeen vereis.
Die feit dat dit die Suid-Afrikaanse Inkomstebelastingdiens (SAID) ongeveer drie jaar
geneem het om hul interpretasie (i.e. Interpretasienota 50) van die artikel te
finaliseer dien as bewys hiervan.
Die SAID het gedurende Augustus 2009, Interpretasienota 50 vrygestel. Die nota
het wye kritiek ontlok by menigte IE prokureurs en belastingkonsultante. Daar is
algemene konsensus dat die SAID se interpretasie so drakonies van aard is, dat dit
enige aansporing wat die artikel bied, geheel en al uitwis.
Die doel van hierdie studie is om die problematiese bepalings van die
aansporingsartikel te verlig en groter sekerheid daaroor te verskaf. Gevolglik is die
betekenis van “nuut” en “nie-ooglopend” soos van toepassing op ‘n ontdekking van
inligting as kwalifiserende N&O aktiwiteit, bestudeer. Verder is die omvang van die
bepaling wat besteding op “bestuur of interne besigheidsprosesse” uitsluit van
kwalifikasie vir die aansporingsinsentief, bestudeer in die konteks van rekenaar
programmatuur ontwikkeling. By nadere ondersoek is daar bevind dat die betekenis van “nuut” en “nie-ooglopend”
soos uitgelê vir doeleindes van IE wetgewing mutatis mutandis aangeneem kan
word vir die uitleg van artikel 11D(1)(a) van die Inkomstebelastingwet. Vervolgens
word inligting as “nuut” beskou indien dit nie deel uitmaak van die stand van die
tegniek onmiddellik voor die datum waarop dit ontdek is nie. Die stand van die
tegniek vir die bepaling van nuutheid behels alle stof wat reeds aan die publiek
beskikbaar gestel is (hetsy binne die Republiek of elders) by wyse van skriftelike of
mondelinge beskrywing, deur gebruik of op enige ander wyse. Inligting word as nie-ooglopend
beskou indien ‘n gewone werker wat bedrewe is in die tegniek en
gekonfronteer is met dieselfde probleem, nie geredelik die antwoord tot die probleem
sou vind deur bloot staat te maak op sy intelligensie en die algemene kennis in die
bedryf op die tydstip van die ontdekking nie.
Daar is aan die hand gedoen dat die doel van die wetgewer nagestreef moet word
met die uitleg van die “bestuur of interne besigheidsprosesse” uitsluiting. Die
Verklarende Memorandum wat uitgereik is met die bekendstelling van artikel 11D het
gemeld dat die wetgewer ten doel gehad het om Suid Afrika op ‘n gelyke speelveld
met die res van die wêreld te plaas wat betref N&O. Die N&O belastingbepalings
van Australië, die Verenigde Koninkryk (VK) en Kanada is dus bestudeer om die
internasionale standaard in die opsig vas te stel.
Die SAID is van mening dat die strekwydte van die uitsluiting so omvangryk is dat dit
alle rekenaar programmatuur wat ontwikkel is vir ‘n bestuur- of interne
besigheidsproses toepassing tref, ten spyte daarvan dat die bedoeling van die
belastingpligtige was om die programmatuur te verkoop of te lisensieër aan ‘n
onverbonde derde party. Dit was egter bevind dat so ‘n beperkende uitleg die
aansporing van rekenaar programmatuur ontwikkeling in Suid Afrika geweldig
benadeel in vergelyking met die regime wat geld in lande soos Australië, die VK en
Kanada. Ten einde gevolg te gee aan die bedoeling van die wetgewer, is daar aan
die hand gedoen dat die uitsluiting slegs so ver moet strek as om rekenaar
programme vir eie gebruik te diskwalifiseer. Rekenaar programme wat dus
ontwikkel word met die doel om dit te verkoop of te lisensieër aan onverbonde derde
partye moet steeds vir die aansporingsinsentief kwalifiseer.
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Die rol van rekeningkundige beginsels en praktyk in die uitleg van die inkomstebelastingwetgewing in Suid-AfrikaSteenkamp, Casper Jan Hendrik 04 1900 (has links)
Thesis (MComm)--Stellenbosch University, 2006. / AFRIKAANSE OPSOMMING: Hierdie werkstuk begin deur te ondersoek watter rol rekeningkundige
beginsels en praktyk tot op datum by die uitleg van die
inkomstebelastingwetgewing in Suid-Afrika gespeel het. Die gevolgtrekking
word gemaak dat rekeningkundige beginsels 'n baie beperkte rei gespeel het.
Die beginsels van wetsuitleg word dan ondersoek en die gevolgtrekking word
gemaak dat daar wei ruimte vir rekeningkundige beginsels en praktyk is om 'n
meer uitgebreide rol in die uitleg van die inkomstebelastingwetgewing, en
meer spesifiek die bruto inkomste-omskrywing en die algemene
aftrekkingsformule, te speel.
Die werkstuk oorweeg dan die rol wat rekeningkundige beginsels en praktyk
in die uitleg van die inkomstebelastingwetgewing in beide Australie en die
Verenigde Koninkryk gespeel het. Die gevolgtrekking word gemaak dat
rekeningkundige praktyk in beide hierdie jurisdiksies 'n meer uitgebreide rei in
die uitleg van inkomstebelastingwetgewing as in Suid-Afrika gespeel het. Die
mening word uitgespreek dat Suid-Afrika baat kan vind deur 'n soortgelyke
benadering te volg as wat in bogenoemde jurisdiksies gevolg word.
Die werkstuk sluit dan af deur die voor- en nadele van 'n stelsel te ondersoek
waar die belasbare inkomste en rekeningkundige inkomste ooreenstem. Die
gevolgtrekking word gemaak dat 'n mate van ooreenstemming aan te bevel is,
maar dat volkome ooreenstemming nie sinvol is nie. Die inagneming van
rekeningkundige beginsels in die uitleg van inkomstebelastingwetgewing kan
bydra om die optimale graad van ooreenstemming te bereik. / ENGLISH ABSTRACT: Traditionaly accounting principles and practice played a very limited role in the
interpretation of the income tax legislation in South Africa.
This study starts off by investigating the role that accounting principles and
practice played to date in the interpretation of the income tax legislation in
South Africa. The conclusion is reached that accounting principles played a
limited role. The principles of interpretation of legislation is then considered
and a conclusion is reached that there is scope for accounting principles and
practice to play an extended role in the interpretation of the income tax
legislation, especially in the interpretation of the gross income definition and
the general deduction formula.
The study then considers the role that accounting principles and practice
played in the interpretation of the income tax legislation in both Australia and
the United Kingdom. The conclution is reached that in both these jurisdictions
accounting practice played a more extensive role in the interpretation of
income tax legislation than in South Africa. The opinion is expressed that
South Africa can benefit from a similar approach as was taken in the abovementioned
jurisdictions.
The study concludes with an investigation into the advantages and
disadvantages of having the calculation of taxable income conform to the
calculation of income for accounting purposes. The conclusion is reached
that conformity to some degree is advisable but that total conformity is not
sensible. Taking accounting principles and practice into account in the
interpretation of income tax legislation can help attain the optimal degree of
conformity.
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Skenkings aan 'n trust en die daaropvolgende vermindering van die trust se uitstaande leningsrekening : die belasting op kapitaalwinsdilemmaMarx, Erick 12 1900 (has links)
Thesis (MComm) Stellenbosch University, 2005. / AFRIKAANSE OPSOMMING: Wanneer 'n natuurlike persoon (die vereffenaar) besluit om sy of haar groeibates
(byvoorbeeld, vaste eiendom of aandele) aan sy of haar familietrust oor te dra, word
sodanige bate-oordrag se markwaarde gewoonlik (volgens die mening van die
belastingskrywers, Keith Huxham en Phillip Haupt) deur die toestaan van 'n rentevrye
leningsrekening aan die trust gefinansier. Die vermindering van die bedoelde uitstaande
skuld by wyse van skenkings van die vereffenaar, het met die verordening van belasting
op kapitaalwins (BKW) op 1 Oktober 2001 'n BKW-dilemma vir sodanige trust geskep. 'n
BKW-aanspreeklikheid ingevolge paragraaf 12(5) van die Agtste Bylae tot die
Inkomstebelastingwet, NO.58 van 1962, soos gewysig, (hierna as "die Wet" verwys) sal in
hierdie omstandighede vir die trust ontstaan, omrede die toepaslike vermindering as 'n
vermindering van 'n debiteur (die familietrust) se skuld (die uitstaande leningsverpligting)
deur 'n krediteur (die vereffenaar) teen geen vergoeding beskou mag word.
Belastingraadgewers in die algemeen adviseer gevolglik (volgens onder meer die siening
van 'n regskonsultant van San lam Trust, Elmarene Erasmus) hulle kliente dat 'n trust
benut moet word op 'n wyse wat verseker dat die vereffenaar nie die trust se tersaaklike
uitstaande leningsrekening vir geen werklike betaling verminder nie. 'n Werklike betaling
van die skenking word derhalwe voorgestel. Sodanige werklike betaling word
bewerkstellig deurdat die vereffenaar 'n bedrag geld ten bedrae van R30 000 (die
skenkingsbelasting-vrystellingsperk ingevolge artikel 56(2)(b) van die Wet) direk aan die
trust betaal of andersins 'n tjek vir die betrokke bedrag aan die trust uitreik. Teen die einde
van die belastingjaar, dit wil se nadat die toepaslike skenking ontvang is, besluit die
trustees van die trust meestal om die kontant, wat per die trust se rekeningkundige
rekords op hande is, aan te wend ter aflossing van 'n gedeelte van die uitstaande
leningsverpligting aan die vereffenaar verskuldig.
Daar word deurgaans veronderstel dat die toepaslike trust in hierdie omstandighede oor
geen verdere uitstaande skuld, rentedraend al dan nie, beskik nie.
Deur te aanvaar dat die vereffenaar nie.regstreeks afstand doen van 'n gedeelte van die
uitstaande lening vir geen betaling nie, is die waarskynlikheid dat 'n BKWaanspreeklikheid
vir die trust (vanwee enige leningsvermindering) sal ontstaan deur
middel van die studie bepaal.
Die betekenis van die frase "verminder of afgelos" ("reduced or discharged" per die
Engelse teks van die Wet) ingevolge paragraaf 12(5) van die Agtste Bylae tot die Wet is
onder meer verklaar aan die hand van die woordeboekbetekenis van die woorde
"reduced" en "discharged" en die strekking van "kwytskelding" en "voldoening" as
relevante vorme van tenietgaan van 'n verbintenis (byvoorbeeld, 'n uitstaande
leningsverpligting) kragtens die Suid-Afrikaanse kontrakte- en handelsreg. Die skrywer het
die gevolgtrekking gemaak dat die betrokke frase dui op die gedeeltelike of algehele
kwytskelding deur 'n krediteur van 'n skuld (soos byvoorbeeld, 'n uitstaande
leningsverpligting) wat deur 'n debiteur aan die bedoelde krediteur verskuldig is.
Voldoening (as 'n verskyningsvorm van die tenietgaan van 'n verbintenis) aan 'n skuld op
'n gedeeltelike of volledige basis deur middel van die betaling van 'n bedrag geld of 'n
tjekbetaling kan egter volgens hierdie gevolgtrekking nie as 'n vermindering of aflossing
van 'n skuld teen geen vergoeding ingevolge paragraaf 12(5) van die Agtste Bylae tot die
Wet gesien word nie.
Die sogenaamde "verwisseling van tjeks" - prosedure ter ondersteuning van die
tersaaklike skenking- en leningvermindering-betalings is vir studiedoeleindes as 'n
ekwivalent vir 'n verwisseling van 'n bedrag geld geag. 'n Ondersoek na die relevante
howe se benaderings in Suid-Afrikaanse belastingsake [naamlik, ITC 1583 (1993) 57
SATC 58, ITC 1603 (1995) 58 SATC 212 en ITC 1690 (1999) 62 SATC 497] asook
buitelandse sake [naamlik, Richard Walter (Pty) Limited v Commissioner of Taxation
(1996) 67 FCR 243; 33 ATR 97 en MacNiven (Her Majesty's Inspector of Taxes) v
Westmoreland Investments Limited (2001) UKHL 6; (2001) 1 ALL ER 865] ten aansien
van sodanige prosedure, het aangetoon dat dit benut kan word as 'n grondslag vir die
geldige nakoming van, oftewel voldoening aan 'n verbonde party se uitstaande skuld
ingevolge 'n tersaaklike transaksie of reeling. Die onderliggende transaksie of reeling moet
egter oor 'n regsgeldige uitwerking beskik, ooreenstemmend met die toepaslike
regsgeldige bedoeling van die betrokke partye.
Analisering van die vermindering van 'n trust se uitstaande leningsverpligting in samehang
met die voorafgaande ontvangs van skenkingbetalings, het ook met verwysing na die
gemeenregtelike wese bo vorm - leerstuk geskied. Hierdie ontleding het onder andere
benadruk dat die belastingdoeltreffende werking (veraI in 'n BKW-konteks) van die
bestudeerde reeling die aanwesigheid van egte ("genuine") en ongesimuleerde skenkingen
leningvermindering-betalings, ooreenkomstig die regsgeldige bedoeling van die
vereffenaar en trustees van die familietrust, om onderskeidelik skenkings en
leningverminderings teweeg te bring, vereis.
Die moontlike toepassing en effek van artikel 103(1) van die Wet (die Suid-Afrikaanse
algemene teenvermydingsbepaling) op die bestudeerde reeling, is oorweeg deur onder
meer ag te slaan op die siening van belastingskrywers (soos byvoorbeeld, D. Clegg, M.A.
Kolitz en K. van der Linde) aangaande die uitwerking van hierdie bepaling op transaksies
en reelings in die algemeen. Die skrywer het tot die gevolgtrekking gekom dat die
toepaslike skenking- en leningvermindering-betalings onderskeidelik op 'n afsonderlike
basis oor bona fide besigheidsdoelwitte moet beskik. Die besigheidsdoelwit van die
skenkingbetalings mag byvoorbeeld verband hou met die vereffenaar se oogmerk om sy
of haar persoonlike bates buite die bereik van sy of haar ondernemingskrediteure te plaas,
gegewe die aanname dat die vereffenaar 'n sake-ondernemimg bedryf. Die
leningvermindering-betalings se gepaardgaande besigheidsdoelwit mag weer betrekking
he op die verbetering van die familietrust se balansstaatposisie soos weerspieel deur
finansiele verhoudingsgetalle met betrekking tot onder andere Iikwiditeit en solvabiliteit.
Verder is dit in hierdie verband van essensiele belang dat daar geen skakel of verbintenis
tussen die onderliggende betalings moet bestaan nie. Die belastingskrywer, M.L. Stein se
mening bied steun vir die belang van die afwesigheid van die bedoelde interafhanklikheid.
Die teenwoordigheid van die betrokke besigheidsdoelwitte tesame met die ontbreking van
enige interafhanklikheid tussen die relevante betalings, behoort dus (volgens die skrywer
se beskouing) te verhoed dat die belastingeffektiewe werking (veral in 'n BKW-verband)
van die reeling onder oorweging deur artikeI103(1) van die Wet se toepassing en effek ter
syde gestel word.
Die skrywer het tot die slotsom gekom dat egte, onvoorwaardelike (jaarlikse)
skenkingbetalings deur die vereffenaar aan sy of haar familietrust wat aan die einde van
die belastingjaar opgevolg word deur ongesimuleerde leningvermindering-betalings,
geInisieer deur die trust se trustees sonder enige inmenging of invloed van die
vereffenaar, na aile waarskynJikheid'n BKW-dilemma vir die familietrust (in die vorm van
'n BKW-aanspreeklikheid per paragraaf 12(5) van die Agtste Bylae tot die Wet ten aansien
van enige leningsvermindering) sal uitskakel. / ENGLISH ABSTRACT: When a natural person (the settlor) decides to transfer his or her growth assets (for
example, fixed property or shares) to his or her family trust, the market value of such a
asset transfer is usually financed (according to the opinion of certain tax authors, for
instance, Keith Huxham and Phillip Haupt) through the grant of a interest free loan
account to the appropriate trust. The reduction of the proper indebtedness by way of
donations from the settlor, created a capital gains tax (CGT) dilemma for the trust
concerned since the commencement of CGT on 1 October 2001. A liability for CGT in
terms of paragraph 12(5) of the Eighth Schedule to the Income Tax Act 58 of 1962, as
amended, (hereinafter referred to as ''the Act'1 will arise in these circumstances in respect
of the trust, because the applicable reduction may be seen as a reduction of the debt (the
outstanding loan account) of a debtor (the family trust) by a creditor (the settlor) for no
consideration.
In general, tax consultants consequently advise their clients (in accordance with, among
others, the view of Elmar{me Erasmus, a legal advisor of Sanlam Trust) that a trust should
be utilise in a manner which would ensure that the settlor does not reduce the outstanding
loan account of the relevant trust for no actual payment. Hence an actual payment of the
donation is proposed. The real payment as such is accomplish through the direct payment
of R30 000 (the exemption amount for donation tax purposes in terms of section 56(2)(b)
of the Act) by the settlor to the trust or otherwise through the issue of a cheque in the
amount of R30 000 by him or her. At the end of the tax year, that is after the receipt of the
relevant donation, the trustees of the trust will in most of the time decide to appropriate the
cash on hand (as per the accounting records of the trust) in order to redeem a portion of
the outstanding loan liability due to the settlor.
The assumption that the apposite trust in these circumstances has no additional
outstanding debt (interest free or not) is maintained on a continuous basis.
By the acceptance of the fact that the settlor does not directly relinquish a portion of the
outstanding loan for no payment, the probability that a CGT liability would arise in respect
of the trust (on account of any loan reduction) is determined by means of the study
concerned.
The meaning of the phrase "reduced or discharged" in terms of paragraph 12(5) of the
Eighth Schedule to the Act is inter alia explained according to the dictionary construction of
the words "reduced" and "discharged" and the effect of "remission" and "settlement" as
relevant forms of dissolution of an agreement in pursuance of the contract - and
mercantile law of South Africa. The author concluded that the appropriate phrase is
indicative of the partial or complete remission of an indebtedness (for example, an
outstanding loan liability) by a creditor owed by a debtor to the creditor involved.
Settlement (as a form of dissolution of an agreement) of an indebtedness on a partial or
complete basis by means of the payment of an amount of money or payment by cheque
may however in accordance with this inference not be perceived as a reduction or
dischargement of a debt for no consideration in terms of paragraph 12(5) of the Eighth
Schedule to the Act.
The so - called "exchange of cheques" procedure in support of the relevant donation - and
loan reduction payments is deemed for study purposes to be the equivalent of an
exchange of an amount of money. An examination of the approaches by the proper courts
in South African tax cases [to wit, ITC 1583 (1993) 57 SATC 58, ITC 1603 (1995) 58
SATC 212 and ITC 1690 (1999) 62 SATC 497] as well as foreign cases [to wit, Richard
Walter (Pty) Limited v Commissioner of Taxation (1996) 67 FCR 243; 33 ATR 97 and
MacNiven (Her Majesty's Inspector of Taxes) v Westmoreland Investments Limited (2001)
UKHL 6; (2001) 1 ALL ER 865] with regard to the procedure in question has demonstrated
that it could be turn to account as a basis for the valid fulfilment of, that is to say the
settlement of the outstanding indebtedness of a connected person in respect of the
relevant transaction or arrangement. The underlying transaction or arrangement should
however have a result sufficient in law, in correspondence with the apposite legal intention
of the parties involved.
Analysis of the reduction of the outstanding loan liability in relation to a trust in conjunction
with the foregoing receipt of donation payments also occurred with reference to the
common - law substance over form doctrine. The analysis in question inter alia
emphasises that the tax efficient operation (especially in a CGT context) of the scrutinised
arrangement necessitates the existence of genuine, unsimulated donation - and loan
reduction payments according to the legal intentions of the settlor and trustees of the
family trust to respectively give occasion to donations and loan reductions.
The conceivable application and effect of section 103(1) of the Act (the general anti _
avoidance provision in South Africa) in respect of the scrutinised arrangement is
considered inter alia on account of the views of certain tax authors (for instance, D. Clegg,
M.A. Kolitz and K. van der Linde) with reference to the application and effect of this
provision on transactions and arrangements in general. The author deduced that the
relevant donation - and loan reduction payments each ought to possess a bona fide
business purpose on a separate basis. The business purpose in connection with the
donation payments may for instance have relevance to the intention of the settlor to locate
his or her personal assets outside the range of his or her business creditors, in light of the
supposition that the settlor is carrying on a business venture. The business purpose that
may be coupled with the loan reduction payments could refer to the enhancement of the
balance sheet position of the family trust as reflected by financial ratios in respect of,
among other things, liquidity and solvability. Moreover it is essential in this context that no
link or connection exists between the underlying payments. The opinion of the tax author,
M.L. Stein renders support for the significance of the absence in relation to the correlation
concerned. The presence of the appropriate business purposes along with the absence of
any interdependance between the relevant payments should consequently (according to
the view of the author) avert that the application and effect of section 103(1) of the Act
would disregard the tax efficient operation (particularly in a CGT context) of the
arrangement considered.
The author arrived at a conclusion that genuine, unconditional (annual) donation
payments by the settlor to his or her family trust which are succeeded by unsimulated loan
reduction payments at the end of the tax year, initiated by the trustees of the trust without
any interference from or influence of the settlor, would in all probability preclude a CGT
dilemma (in the form of a CGT liability in terms of paragraph 12(5) of the Eighth Schedule
to the Act in relation to any loan reduction) for the family trust.
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Silniční daň a její právní úprava / Highway tax and its legal regulationTykalová, Štěpánka January 2013 (has links)
Topic of my thesis is "Highway tax and its legal regulation". I was brought to this topic by the fact that taxes are constantly current, very important. Through my work I wanted readers to become acquainted with the Highway tax which exists in our country. After all, each of us is an economist to a certain extent and each of us also pays part of his income to the state by means of taxes. That is why we should be interested in how the taxes are constructed and from what they are paid. The aim of my work is to introduce legal framework of the highway tax, reveal its strengths and weaknesses, highlight some key institutes, compare Czech, Slovak and German legal framework of the tax, and so to inspire to efficiency improvement of the Czech legal framework. The work is divided into five chapters. The first chapter serves as an introduction to the topic. This chapter deals with the elementary questions of the Highway tax. I focused mainly on its importance, characteristics and status in the Czech Republic. An important part is a history and overview of the amendments to the Highway Tax Act. The legal framework in the EU is also introduced in this chapter, as well as summary of legislation, international treaties and regulations of administratives bodies in our country. In the second chapter I describe...
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Provisões, contingências e normas contábeis: um estudo de gerenciamento de resultados com contencioso legal no Brasil / Provisions, contingencies and accounting standards: a study of Earnings Management through a Litigation Process in BrazilRibeiro, Antônio de Cístolo 12 April 2012 (has links)
A presente pesquisa investigou frente às subjetividades apresentadas pelas normas contábeis do International Financial Report Standards (IFRS), cuja responsabilidade por traduzir, adaptar a situações locais e acompanhar a introdução no Brasil é do Comitê de Pronunciamentos Contábeis (CPC) e pela Legislação Tributária Brasileira, se há indícios de possibilidade de prática de Gerenciamento de Resultados (GR) via provisões relacionadas com o contencioso legal. Buscou-se também entender as singularidades da legislação tributária brasileira e os mecanismos usados na prática de GR. O procedimento Contábil, emitido pelo CPC, que disciplina a contabilização das provisões e dos ativos e passivos contingentes é o de nr. 25, uma tradução e adaptação do International Accounting Standard Nr. 37 (IAS 37), e foi o documento básico para o desenvolvimento deste trabalho. Buscou-se também entender se, após a introdução do CPC 25, houve aumento no disclosure de informações contábeis relativas a provisões e contingências pelas empresas. Como contribuição final foram explorados possíveis mecanismos para mitigar práticas de GR. A pesquisa é exploratória e triangula informações de advogados e auditores, explorando a existência e o mecanismo de GR via contencioso legal e as medidas a serem tomadas para sua mitigação. O período examinado compreende de 2006 - 2010, o qual inclui a introdução da Lei 11631 que muda a Lei das Sociedades por Ações e as normas do IFRS no Brasil. As provisões que têm origens em demandas fiscais administrativas e judiciais são elementos que podem ser manipulados pelas instituições utilizando de subjetividades existentes no entendimento e aplicação da legislação, no sentido de melhorar ou piorar o resultado contábil. A pesquisa mostrou que devido ao intrincado sistema tributário nacional, existe a possibilidade de gerenciamento de resultados via constituição ou não de provisões. Também foi confirmado que após a emissão do CPC 25, as empresas aumentaram o disclosure de informações sobre provisões, passivos e ativos contingentes. / Given the subjectivity inherent in the accounting standards of the International Financial Report Standards (IFRS) that are translated into Portuguese, adapted to local situations and monitored by the Comitê de Pronunciamentos Contábeis (Accounting Standards Board - ASB) and the Brazilian tax legislation, the present study investigated whether there is evidence of the possible occurrence of earnings management practice through provisions related to a litigation process. Since it was an exploratory study, we also tried to understand the peculiarities of the Brazilian tax legislation and the mechanisms used in earnings management practices. The accounting procedure No 25 issued by the Accounting Standards Board (ASB), that is, ASB No 25 regulates the accounting of provisions and contingent assets and liabilities and is a translation and adaptation of the International Accounting Standard No. 37 (IAS 37). It is the document upon which this study was based. We also sought to understand whether after the introduction of the Accounting Standards Board No. 25 there was an increase in the disclosure of accounting information on provisions and contingencies by companies. As a final contribution we explored possible mechanisms to constrain earnings management practices. The study is exploratory and triangulates information from lawyers and auditors, exploring the existence and the mechanism of earnings management through a litigation process and the actions to be taken for its mitigation. The study period is 2006 - 2010, which includes the introduction of act 11631 that incorporates changes to the corporations law and IFRS standards in Brazil. The provisions originated in administrative and judicial tax demands are elements that can be handled by the institutions that use the subjectivity in the interpretation and application of legislation by users and in procedures, in order to improve or worsen the accounting result, thus configuring earnings management practice. The research has shown that due to the intricate tax system in Brazil there is the possibility of earnings management via the constitution of provisions or not. It was also confirmed that after the issuance of ASB No. 25 the companies increased the disclosure of information on provisions, liabilities, assets and contingents.
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