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2015 KPMG Annual Basic Mining Tax Course
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2015/11/26
When: 26 November 2015
From 08:30 until 16:30 (registration from 08:00)
Where: KPMG Crescent Auditorium
85 Empire Road
Parktown
Gauteng
South Africa
Contact: Thabelo Raivhogo


Online registration is closed.
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Navigating the complex mining tax landscape
  •         Are you looking for an understanding of basic mining tax principles?
  •         Would you like to be able to complete a mining tax return?
  •         Do you want to feel confident in being able to prepare your CAPEX schedules?
  •         Do you want to know the latest developments in mineral royalties?
  •         Do you want to be able to reconcile your mineral royalty calculation?
  •         Which areas is SARS currently focusing on in the mining industry?
If your answer is YES to any of the above, then you should attend KPMG’s Annual Basic Mining Tax Course and learn about these topics!

Course Content

Topics that will be covered include:
  • Basics of Mining Tax including:
    • Definition of ‘mining’ and ‘mining operations’ as per Section 1 of The Income Tax Act
    • Mining vs non-mining/manufacturing
    • Section 36(11) – Definitions of 'capital expenditure', 'capital expenditure incurred', 'expenditure on shaft sinking’ and 'expenditure'
    • Sections 15(a) & 36(7), 36(10) – capital expenditure and the capital ring-fencing provisions
    • Section 15(b) – prospecting expenditure
    • Disposal of mining assets, including:
      • Para(j) of the ‘gross income’ definition
      • CGT
      • The requirement for an effective valuation
    • Mine Closure & Rehabilitation Trusts
      • Section 11(a)
      • Sections 37A and 37B
      • Section 23L limitations
      • Insurance policies and alternative investment products
    • Specific Gold-mining rules
  • How to practically complete a mining tax return including manner of disclosing capital expenditure and prospecting expenditure.
  • Basics of Mineral Royalty Tax and how to complete the MPR returns.
  • Diesel Rebates
  • Overview of some basic VAT issues related to prospecting and mining.
  • Latest Mining Tax Cases, Rulings and Practice Notes impacting the industry
Click here to view the agenda

CPD

This event and successful completion of the online assessment will secure 7 hours verifiable output CPD points/units.

Including the following professional bodies. (SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT)

Event Investment

Cost: R 2 500 (incl VAT)

Click here to register

 

Payments & Cancellations

  • All payments must be made by EFT or by credit card, at least 3 working days before commencement of an event.
  • Kindly note that should payment not been received 2 days after the event, legal action will be taken
  • Proof of payment will be requested at registration, if payment at that point in time has not been reflected on SAIT's bank account.
  • Only written notice of cancellation will be recognised.
  • Conditions:
    • If the cancellation occurs more than 30 days prior to the event no cancellation fee will be charged.
    • If the cancellation occurs less than 30 but more than 10 days prior to the event a 50% cancellation fee will apply.
    • If the cancellation occurs less than 10 days prior to the event a 100% cancellation fee will apply.
  • Delegates who book and fail to attend will be liable for the full event fee.
  • SAIT's liability in the case of an event being cancelled will be limited to a refund or credit of the event fee.

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WHY REGISTER WITH SAIT?

Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

MINIMUM REQUIREMENTS TO REGISTER

The Act requires that a minimum academic and practical requirments be set to register with a controlling body. Click here for the minimum requirements of SAIT.

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