by VDT Attorneys | Jun 30, 2025 | Owing SARS money, SARS, SARS debt compromise agreement, Tax, Tax Advice, Tax planning
When a taxpayer is unable to pay its tax obligation to the South African Revenue Service (“SARS”), the taxpayer either has the choice to enter a deferral payment arrangement wherein they can arrange for a deferred payment plan, or the taxpayer may enter into a debt...
by VDT Attorneys | Apr 16, 2025 | Emigration, Financial Emigration, Tax, Tax Advisory, Tax planning
A pivotal aspect of successful financial emigration is the change in tax residency. South Africa employs two main criteria to assess tax residency: the Ordinary Residency Test and the Physical Presence Test. Ordinary Residency Test: This test determines whether a...
by VDT Attorneys | Jul 23, 2024 | Income Tax, Income Tax Act, Tax, Tax Advisory
Section 24O of the ITA can in certain circumstances be utilised in acquisition transactions when a company obtains financing to acquire equity shares in another company. The operative provision of this section essentially permits the interest levied on the financing...
by VDT Attorneys | May 29, 2024 | Capital Gains Tax, Deceased Estate, Donation tax, Estate duty, SARS, Situs tax, Tax
Importantly, not all taxes are always applicable to every estate, with the circumstances of a deceased estate determining the applicable taxes. The executor also has has to register an estate with SARS even if the deceased was a pensioner or not registered for tax....
by VDT Attorneys | Apr 22, 2024 | AML, Beneficial Ownership, Reporting, SARS, Tax, Trust
The Amendment Act that came into effect on 1 April 2023 has introduced interesting changes relating to trusts in South Africa by amending amongst other things, the Trust Property Control Act (“Trust Act”), which now makes it a requirement for trusts to draw up a...
by VDT Attorneys | Apr 22, 2024 | Corporate, Corporate structuring, Estate Planning, Tax, Trust
A trust is a unique legal entity created to hold assets for the benefit of its beneficiaries. Trustees are entrusted to manage the trust’s affairs in favour of the beneficiaries according to the provisions of the trust deed. As a separate legal entity distinct...
