Latest Treaty Updates: South Africa
Treaty Update: Sweden - South Africa
1/5/2012
The Swiss Embassy in Pretoria has announced that a DTA between Sweden and South Africa entered into force on March 18, 2012.
Treaty Update: Malaysia - South Africa
3/4/2012
The Protocol to the DTA between Malaysia and South Africa entered into force on March 6, 2012, the South African tax authority has confirmed.
Treaty Update: South Africa - San Marino
3/4/2012
On March 23, 2012, the South African government published the TIEA between South Africa and San Marino in the nation's Official Gazette as part of the its ratification procedures.
Treaty Update: South Africa - Ireland
27/3/2012
On March 22, 2012, the South African government published the Protocol to the DTA between South Africa and Ireland in the nation's Official Gazette as part of the its ratification procedures.
Treaty Update: Ireland - South Africa
7/3/2012
According to information posted on the Irish Revenue Commission website, the DTA Protocol signed between Ireland and South Africa entered into force on February 10, 2012. The Protocol's provisions in relation to dividends and information exchange will be effective from April 1, 2012.
Treaty Update: South Africa - Various
6/3/2012
The South African tax authority has confirmed the entry into force of the nation's TIEAs with Bermuda on February 27, 2012, Guernsey on February 26, 2012, and Jersey on February 29, 2012.
Treaty Update: Jersey - South Africa
2/3/2012
The TIEA between Jersey and South Africa entered into force on February 29, 2012.
Treaty Update: Austria - South Africa
2/3/2012
The pending Protocol to the existing 1996 DTA between South Africa and Austria entered into force on March 1, 2012.
Treaty Update: Cayman Islands - South Africa
28/2/2012
According to preliminary media reports, the TIEA between the Cayman Islands and South Africa entered into force on February 23, 2012.
Treaty Update: Guernsey - South Africa
24/2/2012
According to preliminary media reports, the TIEA between Guernsey and South Africa will enter into force on February 26, 2012.
Treaty Update: South Africa - United Kingdom
8/2/2012
The Protocol to the UK-South Africa DTA, signed on July 4, 2002, was published in South Africa's Official Gazette on February 2, 2012, as part of the country's ratification procedure.
Treaty Update: Gibraltar - South Africa
6/2/2012
The government of Gibraltar has announced Gibraltar and South Africa signed a TIEA on February 2, 2012.
Treaty Update: South Africa - San Marino
31/1/2012
South Africa's TIEA with San Marino was published in South Africa's Gazette on January 28, 2012, and entered into force immediately.
Treaty Update: South Africa - Hong Kong
20/12/2011
Hong Kong's Financial Secretary John Tsang has confirmed that during meetings between government officials on December 13, 2011, South Africa and Hong Kong have agreed to open negotiations towards a bilateral DTA.
Treaty Update: South Africa - Various
14/12/2011
According to preliminary media reports, South Africa's parliament on December 1, 2011, ratified DTAs signed between South Africa and Austria, Malaysia and the Seychelles.
Treaty Update: South Africa - Various
14/12/2011
According to preliminary media reports, on December 1, 2011, South Africa's parliament ratified pending TIEAs between South Africa and the Bahamas, Bermuda, the Cayman Islands, Guernsey, Jersey and San Marino.
Treaty Update: Oman - South Africa
17/11/2011
Oman and South Africa signed an amending protocol to their 2002 DTA during meetings on November 15, 2011, which would, among other provisions, provide legal protection to investors in both countries.
Treaty Update: South Africa - United Kingdom
24/10/2011
According to preliminary media reports, an amending protocol to the DTA between the United Kingdom and South Africa, signed in November 2010, entered into force on October 13, 2011.
Treaty Update: Congo, Democratic Republic of the - South Africa
22/9/2011
According to preliminary media reports, Congo has ratified the pending double tax agreement signed between the nation and South Africa. According to South Africa's tax authority, the agreement has already been ratified by South Africa.
Treaty Update: Bermuda - South Africa
8/9/2011
The TIEA between Bermuda and South Africa was signed by Bermuda Finance Minister Paula Cox on September 6. The agreement has already been signed by South Africa and must be ratified by both countries before it can enter into force.
Treaty Update: San Marino - South Africa
5/8/2011
According to preliminary media reports, the Tax Information Exchange Agreement signed with South Africa was ratified by San Marino's legislative assembly on July 21, 2011.
Treaty Update: South Africa - Tanzania
7/7/2011
According to media reports, three African nations, South Africa, Zambia and Tanzania are in talks to formalize bilateral tax information exchange, potentially through the signing of Tax Information Exchange Agreements.
Treaty Update: South Africa - Zambia
7/7/2011
According to media reports, three African nations, South Africa, Zambia and Tanzania are engaged in talks to formalize bilateral tax information exchange, potentially through the signing of Tax Information Exchange Agreements.
Treaty Update: South Africa - Serbia
5/7/2011
According to the South African government, representatives from South Africa and Serbia will consider the signature of a drafted Double Tax Convention during two-day talks, due to commence on July 4, 2011.
Treaty Update: South Africa - Guernsey
27/5/2011
In South Africa, the TIEA applies to the normal tax, secondary tax on companies, withholding tax on royalties, tax on foreign entertainers and sportspersons and VAT. In Guernsey the TIEA applies to income tax and dwellings profit tax. The TIEA provides for the exchange of information relevant to the administration and enforcement of domestic tax laws, and the determination, assessment and collection of taxes, the recovery and enforcement of tax claims, and the investigation/prosecution of tax matters. The TIEA also provides for the exchange of information held by banks and other financial institutions, and information regarding the ownership of companies, partnerships, and, in certain cases, investment funds or schemes, trusts and foundations. The TIEA also contains a mutual assistance procedure and a mutual agreement procedure.
Treaty Update: South Africa - Cayman Islands
27/5/2011
Treaty Update: South Africa - San Marino
27/5/2011
Treaty Update: Ireland - South Africa
26/5/2011
The Protocol was signed on March 17, 2010. The Protocol adds a clause providing for the treaty to extend to the intoduction of any identical or substantially similar taxes imposed following the treaty's signature, including taxes on dividends. The Protocol also amends the definition of resident. Dividend withholding tax is altered, so that: 5% is charged where the beneficial owner is a company holding directly at least 10% of the capital of the paying company, and at 10% in all other cases. The Protocol also provides for the exchange of information to international standards.
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Latest News
The South African Revenue Service has lost its Supreme Court appeal on a case concerning the capital gains tax that it said should be applied on a deemed disposal when a taxpayer becomes non-resident.
South Africa Provides Ruling On Taxes Within DTAs 20/9/2011
The Legal and Policy Division of the South African Revenue Service has issued a Binding General Ruling that identifies the taxes which constitute taxes on income, or substantially similar taxes, for the purposes of South Africa’s double tax agreements.
South Africa Looks At Headquarters Company Regime 14/9/2011
While, last year, the National Treasury proposed a new initiative, intended to make South Africa a more attractive base for investment into other African countries by both domestic and foreign investors, taxpayers have raised concerns over the approach of the South African Revenue Service to its headquarters company tax regime.
Portugal Begins New DTA Negotiations 21/6/2011
The Portuguese government is seeking to expand its tax treaty network, beginning negotiations with three new countries over the last month: Peru, Gabon and Senegal.
SARS Issues Three-Year Strategic Plan 3/6/2011
Oupa Magashula, Commissioner of the South African Revenue Service, has presented its Strategic Plan for the fiscal years from 2011-12 to 2013-14, expressing his confidence that the Plan provides the blueprint for the continuous compliance growth and sustained revenue realisation, which will be necessary to support economic development in the country.
South Africa, Kenya Sign DTA 30/11/2010
South Africa’s Deputy President, Kgalema Motlanthe (pictured), and Kenya’s Vice President, Kalonzo Musyoka, have overseen the signing of a bilateral double taxation agreement between their two countries, on the occasion of the former’s visit to Kenya.
UK, South Africa Amend Double Tax Treaty 17/11/2010
The UK tax authority, HM Revenue and Customs has announced the signing of a protocol to the convention for the avoidance of double taxation with South Africa.
Argentina Catches Up On Tax Agreements 3/11/2010
The head of Argentina's Federal Administration of Public Revenue, Ricardo Echegaray has announced the signing of tax information exchange agreements with Russia, Italy and France as part of its strategy to crack down on tax evasion.
South Africa's DTAs With Mexico, Rwanda Become Effective 1/9/2010
The bilateral double taxation agreements completed by South Africa with Mexico and Rwanda have both been passed by parliament and entered into force recently, the South African Revenue Service announced on August 31.
South Africa And Ireland Update DTA 22/3/2010
In Cape Town, Ireland’s Minister of State for Overseas Development, Peter Power, and South Africa’s Minister of Finance, Pravin Gordhan, have signed a protocol updating the existing double taxation agreement between the two countries.
Hong Kong Property Taxes Reviewed 16/3/2010
Hong Kong’s Financial Secretary, John C Tsang, made the traditional post-budget speech at the Joint Business Community Luncheon on March 12 and, in particular, reviewed the tax measures taken to increase the transaction cost of property speculation so as to reduce the risk of a property bubble being created.
NZ Emissions 'Tax' Attacked 15/3/2010
The ACT New Zealand Party, a member of the country’s present coalition government, has continued its opposition to New Zealand’s new carbon emissions trading scheme, calling it a tax that will increase inflation in the economy.
Orascom Loses Algerian Tax Appeal 12/3/2010
Egyptian telecom company, Orascom Telecom, has announced that its Algerian subsidiary, Orascom Telecom Algérie, has received a rejection to its appeal, made in December last year, against the notice for taxes and penalties it had received from the Algerian tax authorities the month previously.
Switzerland, Slovakia Initial Revised DTA 12/3/2010
It has recently emerged that Switzerland and Slovakia have initialled a revised bilateral double taxation agreement, containing the Organization for Economic Cooperation and Development’s standard on tax information exchange.
UK Budget To Hit The Rich 12/3/2010
Wealthy individuals may have less than two weeks to put plans in place to reduce the tax impact of the Chancellor’s pre-election Budget, warns PKF Accountants and business advisers.
Australia Promised Full Debate On Tax Review 15/3/2010
Following indications that the Australian government was thinking of a delay to the release of the Henry tax review, the Treasurer, Wayne Swan, has now confirmed that it will be issued in good time for a full debate on any proposed tax changes.
Malaysia Not Cancelling GST 12/3/2010
After a government meeting, Malaysia’s Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah, has rejected any suggestion that the proposed introduction of a goods and services tax has been cancelled.
Germany Approves Liechtenstein TIEA 15/3/2010
Germany’s Cabinet has recently approved a bill pertaining to the bilateral tax information exchange agreement with Liechtenstein.
UAE Completes VAT Study 12/3/2010
Authorities in the United Arab Emirates are inching closer to the introduction of a value-added tax.
IRS Offers Help To Struggling Taxpayers 14/3/2010
The US Internal Revenue Service has announced several additional steps it is taking this tax season to help people having difficulties meeting their tax obligations because of unemployment or other financial problems.
Baucus Seeks Trade Preference Reform 15/3/2010
Senate Finance Committee Chairman Max Baucus is leading efforts for reform of US trade preference programs accorded to developing countries.
Jersey Riding Out Onshore Storm 15/3/2010
Jersey will overcome the evolving challenges being faced by offshore international financial centres, Geoff Cook, Chief Executive of Jersey Finance, told participants at a Breakfast Briefing in London.
OECD Urges Fiscal Policy Shift 12/3/2010
Governments must now gear their economies towards jobs, international competitiveness and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for Growth’ report, analyzing the next step for recovering economies.
BVI To Review Taxes And Fees 15/3/2010
British Virgin Islands Prime Minister, Ralph O’Neal has said that the territory will run a budget surplus during 2010, although the government still intends to review indirect taxes and fees on financial services.
Bahamas Achieves White-Listing 12/3/2010
The Bahamas has achieved a place on the Organization for Economic Cooperation and Development's ‘white list’ following the signing of Tax Information Exchange Agreements with the seven Nordic economies of Denmark, the Faroe Islands, Finland, Greenland, Iceland, Norway and Sweden, on March 10.