Day Three - Stream One - Small to Large Business Corporate Tax
08:30 to 09:30
Co-operative tax compliance: Any hope of progress?
The classical approach to tax enforcement has been audit control and penalties to deter warranted behaviour. While key, this enforcement approach has seemingly reached its limits with some countries (such as Australia) attempting a supplementary co-operative compliance model. The panel will cover the details of what co-operative compliance could mean in South Africa, necessary pre-conditions and comparative examples of success and failure.
Adv. Eric Mkhawane
Office of the Tax Ombud
WTS South Africa
Dr. Thabelo Malovhele
09:30 to 10:30
Risks and rewards of investing in the youth (tax, labour and grants related)
If South Africa is to be sustainable, growth must include inclusive growth, especially an improved outlook in terms of employment. The economic impact of various youth tax, cash and other incentives will be explored including the recent Youth Employment Service initiative. This exploration will further include a company perspective of risks and rewards to assess whether a company perceives the journey as one to embark upon.
Avante Advisory Services
10:30 to 11:00
11:00 to 11:45
Flip flops in debt cancellation: The latest developments
With many companies seeking to restructure their debt, recent interpretative and legislative adjustments have been made to facilitate relief and prevent avoidance. The panel will seek to unpack the overall landscape in light of recent changes, including those found in the 2018 Draft Taxation Laws.
Priority Tax Solutions
11:45 to 12:30
Selling your shares: Tactics in a post-buyback world
The profitable sale of subsidiary shares by a company was always intended to give rise to capital gains but share buyback scheme conversions into tax-free dividends became ripe several years ago. Recent legislative changes have since disrupted the landscape. The panellists will explore the current aftermath along with the options and unintended risks remaining.
Dr Emil Brincker
Cliffe Dekker Hofmeyr
Adéle de Jager
12:30 to 13:30
13:30 to 14:00
Bad and doubtful debt: Writing off the losses "non-banks"
In tough economic times, customer debts and sums owed by others must sadly be written off in higher amounts. These amounts often give rise to taxable accruals despite the lack of eventual cash. The goal of this session is to outline proper application of the law (including the 2018 proposals) to prevent shortfalls in cash flow without wrongly raising the angst of SARS.
14:00 to 14:30
Private equity trusts, partnerships and companies: Pick your poison
Private equity funds require special vehicles to house one or more entrepreneurial ventures. In the United States and the United Kingdom, limited liability company partnerships are the answer. The focus of this session is to outline the various local answers that will facilitate the appropriate allocation of profits, aligned management and efficient tax outcomes.
14:30 to 15:00
Annual small business withdrawals: Salary, interest and dividends
Small and mid-size companies have a habit of moving funds without regard to the legal niceties. Oftentimes, tax practitioners uncover these movements only months afterwards. The question is … what to do?
15:00 to 15:30
15:30 to 16:30
Corporate tax centre, to large business centre, to something: Let’s kiss and make up (Town hall session)
The SARS unit dedicated to large companies has a long and evolving history. The question to be presented for discussion by the panel and the audience is whether the large business centre should be resurrected and in what form. Factors for consideration include previous Government and private sector experience within this changing landscape as well as prevailing international tax practice.