Mazars Messenger August 2019
In this issue:
1. Transfer pricing regulations: Issued by Zimbabwe
2. Choosing between IFRS and IFRS for SMEs
3. Foreigners selling property in South Africa: Claim your refund
4. Board effectiveness evaluations: An international best practice 10
5. Changes on the way for REITS
6. Section 7C: Loans and trusts
Download the full edition or click through to read individual articles on the pages below:
Choosing between IFRS and IFRS for SMEs
Foreigners selling property in South Africa: Claim your refund
The tax implications on the sale of these properties are not well understood. This article seeks to explain how this process works, and to assist foreign property owners in ensuring that they do not overpay tax in South Africa without obtaining a refund of the overpayment.
Board effectiveness evaluations: An international best practice
Changes on the way for REITS
SECTION 7C LOANS AND TRUSTS
Some of us might be aware that the section 7C of the Income Tax Act No. 58 of 1962 (the Act) originally came into effect on 1 March 2017, but it is important to note that on 19 July 2017, the provisions of Section 7C were extended to include a loan made by an individual to a company in which such a Trust holds at least 20% of the equity shares or is able to exercise 20% of the voting rights.