Cape Town. 498 pages. Price R345 (soft cover).It has been six years now since the Legislature introduced capital gains taxin South Africa.The main reason was to bring South Africa’s tax system into line with the international standards similar to those found in the United States of America, the United Kingdom, Canada and Australia.The other reason was to regulate taxpayers, both corporate and personal, who converting come that would ordinarily be taxable into tax-free capital gains.The author, RC Williams, a well respected academic and a tax practitioner, hasproduced a manual that will serve as an important guide to this involved area of the law.The book under review is an updated version of the first edition.Althought here are no structural changes relating to chapters, the second edition has been improved by including new developments regarding capital gains tax.The predecessor has also been improved by the addition, in Part A, of discussions of other fundamental concepts such as a disposal by non-resident to a resident, and the anti-avoidance provision.
Source: By RC Williams and Moseki Maleka (University of South Africa)
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