Legal and Policy - 27 May 2021

27 May 2021

SARS:

• Binding Private Rulings (BPRs):
  • BPR 362 – Transfer of assets between share incentive trusts
  • BPR 363 – Value of a supply of services
  • BPR 364 – Extraordinary dividend followed by the dilution of shareholders’ interest
• Tax Directives enhancements have been successfully implemented

On 23 April 2021, SARS implemented the IBIR-006 revision 6.105 Interface Specifications changes to the Tax Directives. The Guide to the Tax Directive functionality on eFiling has been updated with the Tax Directive functionality to request previous years’ tax directives. This guide was designed to assist Fund Administrators / Long-term Insurers / Employers / Tax Practitioners and/or Individuals with the Tax Directive administrative functions on eFiling. For more information, see the Guide to the Tax Directive functionality on eFiling.

• SARS urges employers to stick to deadline
• Updated list of Tenders Bids Received
• Taxpayers, your turn to file your tax return starts on 1 July this year. The good news is that a significant number of individual taxpayers will be auto-assessed again this year, and this process will start in July. No need to call us, we will send you an SMS if you are selected to be auto-assessed. If you accept your auto-assessment, any under or overpayment of tax will be processed as normal. If you want to edit your return, you can file your return on eFiling or the SARS MobiApp. More information on how to prepare for Filing Season coming soon.

Filing Season 2021 dates:

• 1 July to 23 November 2021:
  • Taxpayers who file online
  • Taxpayers who cannot file online can do so at a SARS branch by appointment only.
• 1 July to 28 January 2022: Provisional taxpayers including Trusts may file via eFiling or SARS MobiApp.

• Tax Court judgments:
• SARSTC 13395 (IT) [2021] Johannesburg (23 April 2021)
• SARSTC IT 13178 (IT) [2021] Johannesburg (31 March 2021)
• SARSTC VAT 1999 (VAT) [2021] Bloemfontein (30 March 2021)
• SARSTC IT 24606 (IT) [2021] Johannesburg (25 February 2021)
• SARSTC IT 24578 (IT) [2021] Johannesburg (27 January 2021)
• SARSTC VAT 1857 (VAT) [2020] Western Cape (25 February 2020)

Summaries are available on the tax court judgments page

• SARS concerned as another Tax Practitioner sentenced for VAT non-compliance

TREASURY:

• Media Advisory: Deputy Minister of Finance DR David Masondo's Visit to the Ilembe Municipality
• ZBB Framework
• Media Statement: Appointment of OMBUD Council Board Members
• Media Statement: CVs of COUNCIL OMBUD Annexure
• Media Statement: Government’s response to the rating actions of S&P Global Ratings (S&P) And Fitch Ratings (Fitch)
• Budget Vote Speech by the Minister of Finance Tito Titus Mboweni, MP - National Treasury The Pillar of the State - 20 May 2021
• Budget Vote Speech by the Deputy Minister of Finance Dr David Masondo, MP - National Treasury The Pillar of the State - 20 May 2021

OECD:

• Making tax dispute resolution more effective: New peer review assessments for Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia and Turkey

ATAF:

• AU’s Specialised Technical Committee begins with focus on developing Integrated Value Chains

TAX OMBUD:

SAFLII:

• Commissioner for the South African Revenue Services v Tourvest Financial Services (Pty) Ltd (435/2020) [2021] ZASCA 61 (25 May 2021)

• Clicks Retailers (Pty) Ltd v Commissioner for the South African Revenue Service (CCT 07/20) [2021] ZACC 11 ( 21 May 2021)

SARB:

• Exchange Control Circulars:
  • Exchange Control Circular No. 8/2021 Emigration- phasing out the concept of emigration as recognised by the South African Reserve Bank

• Exchange Control Circular No. 9/2021 Financial Surveillance Department forms
• Exchange Control Circular No. 10/2021 Income due to non-residents and private individuals who ceased to be residents for tax purposes in South Africa
• Exchange Control Circular No. 11/2021 Insurance - pension and provident schemes