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An overview by ENSafrica, Taxand South Africa
Our South African firm, ENSafrica, has published issue 102 of its tax in brief newsletter, providing a snapshot of the latest tax developments in South Africa, including:
(i) South African Revenue Service (SARS) publishing a draft guide on the tax treatment of the net-billing tariff system for excess power generated.
(ii) A ruling determining the income tax consequences resulting from bursaries awarded by a resident company.
(iii) A ruling determining the tax consequences for partners in an ‘en commandite’ partnership following its termination and associated distribution of partnership assets in accordance with their interests in the partnership.
(iv) SARS publishing their interpretation of the exemption for international aid received or accrued under an official development assistance agreement.
(v) Publication of the Crypto-Asset Reporting Framework and 2023 update to the Common Reporting Standard.
Read the full newsletter here.
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