The head of SARS, Oupa Magashule, has acknowledged before Parliament's standing committee on finance that the low level of tax compliance by companies is "less than satisfactory".
Companies are still battling with the application of the new Dividend tax and its practical implementation and the fact that most corporate transactions have direct tax consequences for both the company and its shareholders.
The newly promulgated Tax Administration Act includes provisions whereby shareholders may be held liable for the tax debts of a company and the first draft of the Taxation Laws Amendment Bill 2012 has recently been released.
The Taxation Laws Amendment Bill 2012 proposes numerous amendments including: a new definition of a "share" and the introduction of a "debt" definition, the suspension of certain interest and royalty deductions, revision of the anti-avoidance provisions in relation to hybrid debt and equity instruments and new rules in respect of the reduction of debt for less than its full value.
Given the above it is small wonder that taxpayers feel overwhelmed.
This full day seminar is aimed at providing user-friendly tax information to any person involved in various corporate transactions. Our aim is that attendees have a greater working knowledge of the following areas in order to facilitate a familiarity with the basic tax consequences of the relevant transactions.
- Recap of the Dividend Tax and the Dividend Tax return.
- Shareholder tax consequences of all company distributions (dividends and non-dividends)
- Distribution of a dividend in specie
- Distribution of a dividend to a Trust and identifying the beneficial owner
The general tax consequences, including capital gains tax and VAT, for both the company and/or the shareholder of specific corporate transactions including:
- Liquidation distributions and shareholder liability for company tax debt
- Share buybacks
- Capitalisation issues
- Sale of a business/ purchase of business assets out of a company
- Conversion of shares
- Conversion of debt to equity
- Waiver of a debt
- Hybrid debt and equity instruments
- Sale of shares: Share dealer vs share investor
- Withholding tax on interest payments to non-resident lenders
Mergers and acquisitions:
- Brief Overview of the current corporate rollover provisions (sections 42, 44, 45 and 47) and proposed amendments.
- Proposed 2012 amendments in respect of interest deductibility in relation to debt-financing of share acquisitions and section 23K
Brief overview of the Regional Headquarter Company Regime
Who should attend
- Corporate financiers and persons involved in financial planning and advisory services
- Tax specialists
- Practicing accountants and lawyers,
- In-house tax managers and advisors
- Financial directors, managers and business owners
About the presenter
Di Seccombe (B Com, LLB, LLM (Taxation)
Di Seccombe is an admitted attorney with a Masters degree in taxation and has been involved in tax for over 10 years. Di is currently the National Head of Tax training and Presentations with Mazars and in this capacity provides tax training to Mazars partners, staff and clients on a national basis. Di also consults on Income Tax matters including, Corporate, Individual and International tax as well as VAT.
Di presents tax seminars on a national basis, focusing on general as well as specialised tax topics. Di still lectures part time for the National School of Accounting to assist up and coming CA's with passing the UNISA CTA (Hons) programme.
Di started her tax career as a full time academic with the University of KwaZulu-Natal before moving into practice. She has presented numerous tax seminars with great success to attendees ranging from JSE Corporate advisers to smaller tax practitioners and is a popular lecturer amongst her students. Di's primary focus in any presentation is that attendees find the material relevant and presented in an understandable and accessible manner.
Your attendance will also give you 8 valuable hours of CPD.
EVENT INVESTMENT:SAIT Members: R2350.00
Affiliated Members: R2450.00
(includes SAIBA, SAICA, SAIPA, ACCA, IAC, ICB, FPI, CSSA, LSSA, FISA) members