The South African mining industry remains a major contributor to the country's development, despite being plagued by labour unrest in the recent past.
In his 2013 budget speech earlier this year, Minister Pravin Gordhan stated that mining taxes would be reviewed as part of a broader investigation into the appropriateness and effectiveness of the nation's tax system to "assess our tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability".
KPMG hosted a breakfast seminar to discuss tax developments in the mining industry at its Wanooka Place office recently. Topics under discussion included fiscal developments in the mining sector, e-filing developments, the Mineral and Petroleum Resources Development Act (MPRDA) No 28 of 2002 developments and the review of the mining tax regime announced by the Davis Commission. Leading the interactive discussions was Muhammad Saloojee Director, Head of Corporate Tax at KPMG in South Africa
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.