Academic literature on the topic 'Income tax – Law and legislation – Zimbabwe'
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Journal articles on the topic "Income tax – Law and legislation – Zimbabwe"
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Krajčírová, Renáta. "Slovak Income Tax Legislation in Terms of EU Secondary Law Transposition." EU agrarian Law 5, no. 2 (December 1, 2016): 33–36. http://dx.doi.org/10.1515/eual-2016-0010.
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Abstract The article deals with the integration process of implementation of European Union secondary law into the Slovak tax legislation. In particular, the article analyses whether provisions of (i) EU Parent Subsidiary Directive, (ii) EU Interest and Royalty Directive and (iii) EU Merger Directive are implemented into the Slovak Income Tax Act. Following our research, it should be noted that in general, the Slovak tax legislation has adopted the EU secondary law, in particular, the Parent Subsidiary and Interest and Royalty Directives have been implemented. It should be noted that the profit distributions are not subject to tax in Slovakia. It follows that interest and royalty are not subject to tax and is applicable to EU associated companies. Following the Slovak implementation of EU Merger Directive, merger transactions are generally treated as not giving rise to a capital gain. As a result, according to the Slovak Income Tax Act the income received by shareholders from acquiring new shares and income from exchange of the shares on merger transaction is not subject to income tax.
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Burton, Hughlene A., and Noel Brock. "Congress Finally Passes Carried Interest Legislation, But is it Enough?" ATA Journal of Legal Tax Research 17, no. 1 (March 1, 2019): 9–24. http://dx.doi.org/10.2308/jltr-52586.
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ABSTRACT After numerous failed previous attempts to enact legislation taxing “carried interest” income attributable to services as compensation income versus capital gains, Congress enacted Section 1061 as part of the Tax Cuts and Jobs Act. Unlike previous proposals, which would tax carried interest income attributable to services as compensation income, Section 1061 simply reclassifies some carried interest income attributable to services as short-term capital gain. By choosing to treat carried interest income attributable to services as short-term capital gain instead of as compensation income, Section 1061 exempts such income from self-employment tax and allows taxpayers to offset such income with an unlimited amount of short-term capital losses. This paper reviews the requirements under Section 1061 and explains several ambiguities created by the new law. In addition, this paper examines whether Section 1061 follows sound tax policy. The authors find that Section 1061 does not follow the tax policy concepts of equity and fairness, economic efficiency, neutrality, simplicity, or certainty. In addition, the authors find that Section 1061 will have minimal impact, as most carried interest is held longer than the required period to qualify as long-term capital gain.
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Richardson, Ivor. "Simplicity in Legislative Drafting and Rewriting Tax Legislation." Victoria University of Wellington Law Review 43, no. 3 (September 1, 2012): 517. http://dx.doi.org/10.26686/vuwlr.v43i3.5032.
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The search for simplicity in legislative drafting affects all legislatures. It is also central to the work of the New Zealand Law Commission and of governments in other comparable jurisdictions. Rather than exploring a range of statutes in various jurisdictions, this article focuses on income tax. It does so for two reasons. The first is that income tax has been crucial to the funding of government in common law jurisdictions and to achieving a legislative balance between simplicity and other criteria of an acceptable tax system. The second is that we can draw on three recent projects to rewrite income tax legislation – in Australia, the United Kingdom and New Zealand.
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Tepperová, Jana, and Lucie Rytířová. "Tax Law: Third Party As Payer of Income from Dependent Activity." International and Comparative Law Review 13, no. 1 (June 1, 2013): 147–61. http://dx.doi.org/10.1515/iclr-2016-0065.
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Abstract Employment related income paid by a third party (non-employer) has its specific tax treatment. In the Czech Republic, a different approach applies for calculation of personal income tax and obligatory insurance contributions from this income. With the preparation of the Single Collection Point (unifying the collection of personal income tax and obligatory insurance contributions), the question arises whether it is possible to set up unified treatment of this income for all obligatory payments. We provide detailed analyses of this topic from the point of view of the Czech legislation and comparison with selected countries. Further we follow with the discussion of problematic issues in unified treatment for all obligatory payments from this income; such as discrimination and complicated administration. We conclude that even if the national legislation for all obligatory payments from this income would not diff er, there will still be different treatment due to specific international regulations.
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Costa, David, and Lilla Stack. "The relationship between Double Taxation Agreements and the provisions of the South African Income Tax Act." Journal of Economic and Financial Sciences 7, no. 2 (July 31, 2014): 271–82. http://dx.doi.org/10.4102/jef.v7i2.140.
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This article investigates the legal status of Double Taxation Agreements, and the relationship between Double Taxation Agreements, which are concluded in terms of section 108 of the Income Tax Act, and the provisions of the Income Tax Act (taking into account the provisions of the Constitution, and the national and international rules for the interpretation of statutes). An important conclusion reached was that as the Vienna Convention on the Law of Treaties represents customary international law and as such forms part of South African law, the principles contained in the treaty should be taken into account when interpreting South African legislation (including Double Taxation Agreements). The final conclusion of the research was that Double Taxation Agreements have a dual nature – forming part of domestic legislation and being classified as international agreements. The provisions of the Double Taxation Agreement should be taken as overriding any conflicting legislation in the Income Tax Act.
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Park, Wan-Kyu, and Toni Smith. "On the Progress of Option-Regulating Legislation." ATA Journal of Legal Tax Research 2, no. 1 (January 1, 2004): 75–83. http://dx.doi.org/10.2308/jltr.2004.2.1.75.
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A great deal of debate currently surrounds stock-option-based compensation. Its many facets involve preferential tax treatment, the alternative minimum tax, and financial accounting procedures. The issue involves many; options affect an estimated 10 million people and 20–25 percent of all publicly held U.S. firms. Compensatory stock options were originally incorporated into the Internal Revenue Code in 1950 with the addition of Section 130A. At that time, the incentive effects of this form of compensation were deemed worthy of preferential tax status. In the 1950s, gains associated with tax-preferenced options were taxed at the lower, 25 percent, capital gains rate instead of the 91 percent applied to ordinary income. While stock option provisions have been revised and continue to be the topic of legislative discussion, they remain a part of tax law. This paper traces the legislative history of the special tax status of compensatory stock options and highlights the congressional intent and economic conditions surrounding the revisions made over the past 50 years.
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Kobylnik, Dmytro, and Anton Burchak. "Cryptocurrency as an object of tax law: practice of political application and legal regulation." Law and innovations, no. 2 (30) (June 2, 2020): 24–30. http://dx.doi.org/10.37772/2518-1718-2020-2(30)-3.
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Problem setting. The work is devoted to the study of the legal status of cryptocurrency as an object of taxation. The legal status of cryptocurrency in legal relations between tax authorities and individuals or legal entities is an urgent problem, since there is only a small number of works on this issue. Of particular note is the study of international experience in taxation of cryptocurrency transactions, as well as an analysis of the most relevant proposals for amending national legislation in order to establish the legal status of cryptocurrency and transactions related to cryptocurrency as an object of tax legal relations. Analysis of recent researches and publications. Despite the great relevance of this topic, in the modern science of tax law there are no fundamental scientific works and studies on the problems of taxation of cryptocurrency and cryptocurrency transactions. Target of research. The purpose of the scientific article is to conduct research on the legal nature of cryptocurrency, as well as the disclosure of theoretical, practical problems and features of legal regulation of cryptocurrency and operations related to the use of cryptocurrency in modern tax law. Article’s main body. The article deals with the legal nature of transactions connected with the use of the cryptocurrency as an object of tax relations. The issues of the possibility of attributing income, as well as profits from cryptocurrency transactions to the objects of taxation of personal income tax, profit tax, and value-added tax, are disclosed in accordance with the current tax legislation. The following conclusions have been drawn: it is impossible to impose the relevant taxes on income and profits from transactions with the cryptocurrency; there is a conflict in the current legislation, according to which the proceeds from transactions with cryptocurrency may be subject to the Law ‘On Prevention and Counteraction to Legalization (Laundering) of the Proceeds from Crime or Terrorism Financing, as Well as Financing Proliferation of Weapons of Mass Destruction’ In addition, foreign experience of legal regulation of transactions with cryptocurrency in tax legislation in such economically developed countries as the USA, Great Britain, Canada, Germany, Switzerland, etc. has been analyzed. It has been established that nowadays, in world practice, there is no unambiguous approach to the tax regulation and taxation of cryptocurrency transactions. So, in some countries, the income from operations with cryptocurrency is taxable, while in others cryptocurrency transactions do not belong to objects of taxation. Conclusions and prospects for the development. As a result, the author presents her own proposals on amending the tax legislation aimed at determining the legal status of cryptocurrency transactions in tax law. The article is devoted to the legal nature of transactions related to the use of cryptocurrency as an object of tax relations. Foreign experience of taxation of operations with the cryptocurrency is analyzed. The author considers current proposals for amending the tax legislation of Ukraine, who’s the purpose of which is to determine the legal status and control measures for compliance with tax legislation in the implementation of cryptocurrency transactions in tax law.
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Elegido, J. M. "Void Assessments to Income Tax in Nigeria." Journal of African Law 32, no. 1 (1988): 44–63. http://dx.doi.org/10.1017/s0021855300010214.
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Many Nigerian decisions in tax cases have firmly established the possibility of raising the defence of lack of jurisdiction in the assessment in an action for recovery of tax. This development has resulted from decisions of the courts and has led to a significant shift from the practice in the U.K. There— aside from the possibility of applying in rather exceptional cases for judicial review—the consideration of any issues, whether of fact or of law, as to the merits of an assessment is confined to appeals before the Commissioners with further appeal to the High Court on points of law. This apparently technical difference has had great practical importance. Recourse to the courts for the purpose of tax recovery has become more difficult for the Revenue and this has encouraged the development of extra-judicial methods of tax collection.A study of those Nigerian decisions that have established, extended and applied this doctrine, and of its consequences, should be of interest in other anglophone African countries. The income tax statutes of many such countries are basically similar due to their common descent from a “Model Ordinance” prepared in the U.K. in 1922. Decisions of the Nigerian Courts on the construction of provisions of the Nigerian tax statutes are of persuasive authority in other Commonwealth countries with similar provisions in their own tax enactments.This paper first provides a broad outline of the Nigerian legislation on tax assessments, appeals and collection in order to facilitate the understanding of the points discussed later.
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Påhlsson, Robert. "The taxpayer’s intentions: Subjective prerequisites in tax law." Nordic Tax Journal 2017, no. 1 (November 27, 2017): 121–34. http://dx.doi.org/10.1515/ntaxj-2017-0009.
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Abstract Tax legislation contains references to taxpayer’s intentions with their transactions. The acquisition or sale of an asset may be treated differently, for example, depending on the purpose of the person holding it. This article contains a discussion of the concept of subjective prerequisites, with particular emphasis on the role they can play in tax law. How the terms intention and purpose are actually used in the Swedish Income Tax Act (ITA) is also explored.
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Falah, Hasan, and Amjad Hassan. "The Role of International Agreements in Organising Tax Imposed on Intellectual Property Rights in Egypt, Palestine, and Jordan." Arab Law Quarterly 33, no. 4 (August 15, 2019): 381–99. http://dx.doi.org/10.1163/15730255-12334053.
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Abstract Recognising the potential abundance of revenue and penetration of intellectual property as protected in various forms (copyrights, trademarks, patents, industrial designs, technical expertise, and trade secrets), into every aspect of society, states have endeavoured to regulate and protect these rights through national legislation and international agreements that emphasise the need to organise and protect these tax rights to support cooperation and integration among countries, as well as resolving international disputes on double taxation and combating tax evasion. This Article examines existing intellectual property legislation in Palestine, Jordan, and Egypt. Legislations in these three countries have agreed to subject to tax intellectual property revenues and activities, recognising them as one of the most important sources of state income. However, Palestinian legislation has not been clear in setting laws to deal with intellectual property revenues, contrary to counterparties in Egypt and Jordan.
Dissertations / Theses on the topic "Income tax – Law and legislation – Zimbabwe"
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Kanyenze, Rumbidzai. "An analysis of the income tax consequences resulting from implementing the Income Tax Bill (2012) in Zimbabwe." Thesis, Rhodes University, 2015. http://hdl.handle.net/10962/d1017536.
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The Income Tax Bill (2012) proposes certain changes to the existing Income Tax Act that will impact on the method used to determine the taxable income of a taxpayer in Zimbabwe. Therefore, it is important to understand the tax consequences the Income Tax Bill creates for the taxpayer. The research aimed to elaborate on and explain the tax consequences that will arise as a result of applying the Income Tax Bill in Zimbabwe. The research was based on a qualitative method which involved the analysis and the interpretation of extracts from legislation and articles written on the proposed changes. The current “gross income” of a taxpayer consists of amounts earned from a source within or deemed to be from within Zimbabwe The proposed changes to the Act will change the tax system to a residence-based system, where resident taxpayers are taxed on amounts earned from all sources. Therefore, the driving factor which determines the taxability of an amount will become the taxpayer’s residency. Clause 2 of the proposed Act provides that income earned by a taxpayer should be separated into employment income, business income, property income and other specified income. This will make it unnecessary to determine the nature of an amount because capital amounts will be subject to income tax. The current Act provides for the deduction of expenditure incurred for the purpose of trade or in the production of income. Section 31(1)(a) of the proposed Act will restrict permissible deductions to expenditure incurred in the production of income. Consequently, expenditure not incurred for the purpose of earning income will no longer be deductible when the Income Tax Bill is implemented. The proposed Income Tax Act will increase the taxable income of a taxpayer as it makes amounts that are not currently subject to tax taxable, whilst restricting the deductions claimable.
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Stroope, John C. (John Clarence). "Income Tax Evasion and the Effectiveness of Tax Compliance Legislation, 1979-1982." Thesis, University of North Texas, 1988. https://digital.library.unt.edu/ark:/67531/metadc330580/.
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The federal income tax system in the United States depends upon a high degree of voluntary compliance. The IRS estimates that the voluntary compliance level is declining and that this tax compliance gap cost the government an estimated $90.5 billion in 1981. Between 1979 and 1982, Congress made several changes in the tax laws designed to improve tax compliance. Extensive data was collected by the IRS for 1979 and 1982 through the random sample audits of approximately 50,000 taxpayers on the Taxpayer Compliance Measurement Program (TCMP), which is conducted every three years. During the period 1979 through 1982, Congress lowered the marginal tax rates, added some fairly severe penalties, for both taxpayers and paid return preparers, and increased information reporting requirements for certain types of income.
In this research, it was hypothesized that voluntary compliance should increase in response to lower marginal rates, a higher risk of detection due to additional reporting requirements, and increased penalties. Multiple regression analysis was employed to test these hypotheses, using 1979 and 1982 TCMP data. Because of the requirements for taxpayer confidentiality, it was necessary for the IRS to run the data and provide the aggregate data results for the research.
The results provided insight into the effectiveness of tax compliance legislation. While the overall voluntary compliance level (VCL) increased from 1979 to 1982 by 1.53 per cent, the VCL increase for taxpayers in high marginal rates was much smaller (.42 percent) than the overall increase. This is very inconsistent with the notion that high marginal rates are driving noncompliance, and suggests that marginal rates may not be strong determinants of compliance. Probably other factors, such as opportunity for evasion, may be more important. There was little change from 1979 to 1982 of the compliance of returns done by paid return preparers. Because of the timing of many TEFRA provisions (effective in 1983), further research for years after 1982 is needed.
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Grebe, Alta-Mari. "The income tax implications resulting from the introduction of section 12N of the Income Tax Act." Thesis, Nelson Mandela Metropolitan University, 2014. http://hdl.handle.net/10948/d1020787.
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Section 12N, introduction into the Income Tax Act by way of Taxation Laws Amendment Act and which became effective on 2 November 2010, provides for allowances on the leasehold improvements on government-owned land and land leased from certain tax exempt entities as stipulated in section 10 (1) (cA) and (t). As section 12N deems the lessee to be the owner of the leasehold improvement, the lessee now qualifies for capital allowances which were previously disallowed.
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Surtees, Peter Geoffrey. "An historical perspective of income tax legislation in South Africa, 1910 to 1925." Thesis, Rhodes University, 1986. http://hdl.handle.net/10962/d1004578.
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From Introduction: This work considers the period from Union, 31 May 1910 until promulgation of the Income Tax Act No. 40 of 1925.(1) It will describe the means, both financial and otherwise, by which the fledgling Government of the Union of South Africa contrived to balance its budget, and will consider the various sources of revenue available up to 1914, when the Government of Gen. Louis Botha first decided that a tax on income was necessary in order to maintain the solvency of the new State. Similarly the political pressures which shaped the nature of the Income Tax Acts up to 1925 will be discussed, and the political principles (or expediencies, depending on the degree of cynicism of the reader) which led the parties in power from time to time to make the decisions they did regarding the provisions of the various Acts. The effect of external political situations such as the Great War of 1914 - 1918 will be examined, as will the consequences of the rebellion of 1914 and the strikes of 1913 and 1922. The legislation predictably spawned a considerable body of litigation as taxpayers hastened to find and exploit loopholes in it; the resultant Income Tax Cases, in the Income Tax Special Court, Supreme Court and Appeal Court, formed the embryo of a body of judicial precedent which today encompasses some two thousand case reports. A few of the cases decided in the period up to 1925 are still quoted today; for example, CIR v Lunnon 1924 AD 1 SATC 7. The relevant cases from the period will enjoy consideration, with descriptions of how their verdicts affected either subsequent income tax principles or later legislation. Also considered will be the inception during this period of the way in which income tax legislation largely develops: the legislature promulgates an Act, the taxpayers discover legitimate ways to reduce their tax burden and the Minister of Finance consequently causes the Act to be changed in order to protect the tax base. Thereupon the resolute taxpayers seek loopholes anew. The effect of economic conditions on income tax legislation will engage attention; several such conditions cast their shadows into the House of Assembly during that 15 year period, notably the post-war recession and the drought of 1919. The selection of this period is apposite for several reasons: it covers the period during which income tax legislation came into being; - it includes several notable political occurrences. thus making possible a consideration of their effect on income tax legislation; it includes a natural cataclysm. namely a major drought. which also had an effect on subsequent Income Tax Acts; - a sufficient number of income tax cases was heard during the period to afford a fair indication both of how the body of case law would develop and how it would perpetually interplay with the legislation; it clearly illustrates the differences between the two great political parties of the time, differences largely caused by the vested interests of each; the dominant South African Party, with its need to retain the support of the commercial and particularly the mining sectors, and the smaller but even then growing National Party with its face set firmly towards the rural constituencies and the embattled farmers; - the period culminates in the Income Tax Act of 1925, a significant change from its predecessors, and the second Income Tax Act of the Pact Government. The imposition of taxes by the respective provinces does not form part of this work, as the scope of the discussion is limited to the various Income Tax Acts, and their development has been overseen by the central government.
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Stopforth, David Paul. "A history of the anti-avoidance legislation applying to settlements for income tax purposes." Thesis, University of Glasgow, 1988. http://ethos.bl.uk/OrderDetails.do?uin=uk.bl.ethos.254093.
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Haffejee, Yaasir. "A critical analysis of South Africa's general anti avoidance provisions in income tax legislation." Thesis, Nelson Mandela Metropolitan University, 2009. http://hdl.handle.net/10948/1243.
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This treatise was undertaken to critically analyse the new general anti avoidance rules (new GAAR) as set out in sections 80A to 80L of the Income Tax Act1. A discussion on the difference between tax evasion and tax avoidance was performed in the first chapter. The goals of this treatise were then set out. An analysis of the requirements for the application of the new GAAR was performed in the second chapter. The courts have historically reviewed the circumstances surrounding an arrangement when determining whether tax avoidance has occurred. The new GAAR requires the individual steps of an arrangement to be reviewed in isolation. Secondly, the courts have historically held that the purpose test, when determining the taxpayer‘s purpose, was subjective. The wording of the new GAAR indicates that this test is now objective. Thirdly, the courts have historically viewed the abnormality of an arrangement based of the surrounding circumstances. The wording of the new GAAR requires an objective view of the arrangement. An analysis of the secondary provisions contained in sections 80I, 80B and 80J of the new GAAR was performed in the third chapter. With regards to section 80B, it was submitted that the Commissioner should issue an Interpretation Note detailing all the methods ―he deems appropriate.
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Wessels, Jacques. "The tax implications of non-resident sportspersons performing and earning an income in South Africa." Thesis, Rhodes University, 2008. http://hdl.handle.net/10962/d1003719.
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As the number of non-resident sports persons competing in South Africa increases so does the need to tax them more effectively. It was for this reason that the South African legislature decided to insert Part IlIA into the Income Tax Act which regulates the taxation of non-resident sports persons in South Africa. The new tax on foreign sports persons, which came into effect during August 2006, is a withholding tax placing the onus upon the organizer of the event to withhold the tax portion of the payment to the non-resident sportsperson and pay it over to the revenue services. The rate of taxation has been set at 15 percent on all amounts received by or accruing to a foreign sportsperson. The question which the research addressed is whether this new tax will prove to be an effective tax, both from the point of view of its equity and the administration of the tax. In order to determine the impact of the new tax, it was compared to similar taxes implemented in the United Kingdom and Australia and also to other withholding taxes levied in South Africa. The new tax was also measured against a theoretical model for effectiveness, compared to the pre-August 2006 situation and to the taxation of resident sportsmen and women, using hypothetical examples. The major shortcomings of the new withholding tax are the uncertainty with regard to the intention of the legislature on matters such as the taxation of capital income versus revenue income, the question whether payments to support staff are included in the ambit of the new tax, the taxation of the award of assets in lieu of cash payments and the definition of a resident. A further area of concern is that the rate of taxation of 15 percent appears to be too low and creates horizontal inequity between the taxation of resident and non-resident sports persons. The new tax on non-resident sports persons may have its shortcomings but, depending upon the administrative and support structures put in place to deal with it, will be an effective tax. The rate at which the tax is levied could result in a less tax being collected than before but, with the reduced administrative cost of tax collection, the effective/statutory ratio of the tax could well be much higher than it was. This is a new tax in South Africa and certain initial problems are inevitable and will undoubtedly be solved as the administrators gain experience and as the case law governing this tax develops.KMBT_363
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Poetschke, Martin Erik. "Investors' deductions and allowances in film funds : German and South African income tax laws compared." Master's thesis, University of Cape Town, 2003. http://hdl.handle.net/11427/15436.
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Includes bibliographical references (leaves 138-139).By comparing the income tax allowances and deductions for private investors in film production funds in Germany and in South Africa, the author aims to show how the governments of these two countries are taxing private individuals who invest in film funds, i.e. what incentives are offered to such venturesome investors. The tax incentives examined here provide the taxpayer with a deferment of his tax payments. By making the comparison the author intends examine what role a domestic film fund can play as an instrument for financing domestic and export films and how the government can promote film production in this way.
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Nxumalo, Delani. "A critical analysis of the income tax implication of income from illegal activities in South Africa." Thesis, Nelson Mandela Metropolitan University, 2016. http://hdl.handle.net/10948/12780.
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Moneymaking schemes such as prostitution, drug dealing, fraud, corruption, pyramid schemes and the sale of counterfeit goods have been around for years. The taxing of these transactions/schemes has become a contentious issue. It has recently been reported in the press that SARS has lodged a claim for R183 million in income taxes against the estate of the slain mining magnate, Brett Kebble, in respect of the R2 billion allegedly stolen by him from the mining companies of which he was a director.4 It is further reported that the Master of the High Court has rejected the claim on the grounds that the amounts on which SARS sought to levy tax constituted money stolen by Kebble, and that stolen money is not subject to income tax. It has been reported that SARS is to take the Master’s decision in this regard on review.5 The Kebble case raises an interesting and unresolved tax issue and, in view of the large sum at stake, it may be a case that will go all the way to the Supreme Court of Appeal and bring long-overdue certainty to the law. The Income Tax Act No. 58 of 1962 (the Act) is of no assistance in determining the issue. Section 23(o) states that payments that are illegal in terms of Chapter 2 of the Prevention and Combating of Corrupt Activities Act No. 12 of 2004 or that constitute a fine or penalty for any “unlawful activity carried out in the Republic or in any other country if that activity.
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Le, Roux Ayesha. "An analysis of the South African income tax legislation in respect of transfer pricing." Thesis, Nelson Mandela Metropolitan University, 2016. http://hdl.handle.net/10948/13105.
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Transfer pricing has become a very popular term in South Africa over the last few years, even more so since July 2013 when the Base Erosion and Profit Shifting (BEPS) Action plan was issued by the Organisation for Economic Co-operation and Development (OECD) and G20 (an international forum for the governments and central bank governors from 20 major economies). The OECD and G20 has issued the plan to address the perceived flaws in international tax rules, giving rise to profit shifting. Subsequently, the OECD has issued numerous reports and as a result has updated its 2010 Transfer Pricing Guidelines. Many countries have adopted these guidelines. However as South Africa is not an OECD member, there is no certainty that it will be adopted. The question is therefore: has the South African Tax legislation met the OECD guidelines and addressed the BEPS issue? Therefore, the objective of the research is to understand whether the current South African tax legislation is in line with the OECD Transfer Pricing Guidelines and BEPS Action Plan. The South African tax legislation provides South African taxpayers with no guidance as to how the OECD Transfer Pricing Guidelines needs to be implemented and interpreted. However, even though not legislation, the SARS practice note 7 and draft interpretation note on thin capitalisation provides taxpayers with a good basis of understanding the OECD Transfer Pricing Guidelines, as these documents provided by SARS is similar to that of the guidance in the OECD Transfer Pricing Guidelines, specifically relating to transfer pricing documentation. The issue that may result where the South African tax legislation is not in line with the OECD guidelines and the BEPS Action Plan is that Multinational Enterprises (MNEs) may use South Africa as the country to shift its profits to or from, thus effectively resulting in a loss to the Fiscus.
Books on the topic "Income tax – Law and legislation – Zimbabwe"
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Ndlovu, Believer. Income tax in Zimbabwe: A practical approach. Gweru, Zimbabwe: Mambo Press, 2006.
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Hill, L. W. Income tax in Zimbabwe: Including withholding taxes, capital gains tax, and estate duty. 4th ed. Durban: Butterworths, 1997.
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Lewis, J. C. J. Zimbabwe tax service: Including the Capital Gains Tax Act and Finance Act extracts, Value Added Tax. Harare: ZXNET, 1995.
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China (Republic : 1949- ). Income Tax Law. Taipei, Taiwan, Republic of China: Industrial Development Center, 1989.
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China (Republic : 1949- ). Income Tax Law. Taipei, Taiwan, Republic of China: Industrial Development Center, 1987.
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China (Republic : 1949- ). Income tax law. Taipei, Taiwan, Republic of China: Industrial Development Center, 1985.
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McAteer, Willie. Income tax. 8th ed. Dublin: Institute of Taxation in Ireland, 1995.
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Pakistan. Income Tax Ordinance 2001: With income tax rules, 2002 : containing income tax rules ... Lahore: Pakistan Co. & Tax Law Reports Publications, 2003.
Find full textBook chapters on the topic "Income tax – Law and legislation – Zimbabwe"
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Małgorzata, Ofiarska. "Exemption of Polish Local Government Units and their Unions from Corporate Income Tax – The Fundamentals, Evolution of Solutions and Legal Framework." In European Financial Law in Times of Crisis of the European Union, 457–66. Ludovika Egyetemi Kiadó, 2019. http://dx.doi.org/10.36250/00749.43.
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Local government units and their unions as income earning legal entities are subject to the provisions of the Act on corporate income tax. Being subject to income tax law translates also to the opportunity of benefiting from tax privileges established by the law. The establishment and application of tax preferences on income of local government units and their unions is an important instrument in supporting their efforts to perform important – in social and economic terms – public tasks. Tax privileges also serve an important protective function with regard to the public funds being managed by local government units and their unions. To ascertain the fundamentals and the scope of the regulatory law regarding subjective and objective tax exemptions addressed to local government units and their unions, as well as the way in which these regulations evolve, the tax legislation and judicial practice were analysed and the reference literature was reviewed with the application of the dogmatic-legal and empirical methods. The hypothesis on the conditional nature of tax exemption and the need for strict interpretation thereof was proven to be correct. The inability to apply such exemptions in metropolitan unions, which can be interpreted as discriminatory, was evaluated critically. Moreover, it has been proven that the provision of statutory income tax exemption thresholds to local government units and their unions is an overly complicated process since the Act income tax incorporates references to the provisions of the Act on the income of local government units which do not conclusively determine the revenue sources of these entities.
Conference papers on the topic "Income tax – Law and legislation – Zimbabwe"
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Joldeska, Irina, and Stevcho Mecheski. "Establishing an Annual Account for Performers of Independent Activity." In 5th International Scientific Conference 2021. University of Maribor Press, 2021. http://dx.doi.org/10.18690/978-961-286-464-4.17.
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The preparation of the Annual account is mandatory for all economic entities in the Republic of North Macedonia. Depending on the type of categorized economic entity, special forms are prepared prescribed by law, in order to summarize them in the Annual account. Performers of independent activity are economic entities that include an individual person – entrepreneur, sole proprietorship an individual person who is engaged in performing agricultural, craft activity, as well as a person who performs a service or free occupation. Accordingly, at the end of the year, it is necessary to prepare an Annual account which contains the Income and Expenses Balance, the Annual Tax Balance for determining the income tax from performing an independent activity and the Income Structure by activities. The main purpose of the paper is to reflect the legislation of a certain part of companies registered in accordance with the law in The Republic of North Macedonia for external reporting and tax purposes. Hence, as a conclusion, the practical preparation of the three forms, implemented in the Annual Account of a sole proprietorship can be seen.