TAX LAW FOR EMPLOYER-PROVIDED TRANSPORT SERVICES
Many business transactions are concluded in terms of section 42 of the Income Tax Act. This section essentially allows a transfer of an asset by a person to a company, in exchange for equity shares in that company, allowing for a tax neutral transaction. The South African Revenue Service has recently issued Binding Private Ruling […]
THE GIVE AND TAKE OF SHARE TRANSFERS
Many business transactions are concluded in terms of section 42 of the Income Tax Act. The section essentially allows a transfer of an asset by a person to a company, in exchange for equity shares in that company, allowing for tax neutral transaction. The South African Revenue Service has recently issued Binding Private Ruling 339, […]