Dear Subscriber,

Do you want to know how to deal with the processes of a SARS audit? Why the Transfer Pricing provisions are constitutionally invalid and not enforceable? What amnesty in 2006 is available to corporate taxpayers for undisclosed income? (not just for small businesses), and the effect the Royalty Judgment has on royalty payers?

Daniel Erasmus, one of Tax Talk's expert speakers will be presenting a 1-day workshop on "The Complete Tax Workshop" for front foot delegates on the 12th July. If you want to know how you can prevent your business from falling foul to the law, in any of these areas, then go to www.frontfoot.co.za and book your seat on this workshop.

Front Foot Strategic Consulting will be hosting the event at Benvenuto Conference Centre in Randburg, contact: Adele Biani on 011 880-4808 to make a booking for any enquiries.

D-day for submitting tax returns is around the corner. What tax skeletons lurk in your closet? On Monday 03 July 2006 Tax Issues discussed tax skeletons with Ernie Lai King, director of Denys Reitz Tax. We refer you to the full interview article in this weeks newsletter titled "Time for those tax skeletons to come out of the closet"

This coming Monday we look forward to discussing how long tax records should be kept and what the issues are involved in good tax housekeeping, with Marius van Blerck, director of Group Tax at Standard Bank.Tax Issues is on every Monday at 20h40 and again at 22h40 on SUMMIT TV (DSTV CHANNEL 55.) Don't forget to tune in.

If you are not yet subscribed and you would like a copy of the Tax Talk Magazine to keep you informed, email us your postage details and we will be happy to provide you with a complimentary copy of Issue 2, so that you can see first hand the resourceful information that is being published.

Please email: neo@taxtalk.co.za for a copy.

Until next time
Tax Talk Editor

Tax Issues Interview: Marius van Blerck, director of Group Tax at Standard Bank.

How long should tax records be kept and what are the issues involved in good tax housekeeping? Join Daniel Erasmus on Summit TV every Monday night at 20h40 to gain insight into the world of tax. On Monday, 10 July 2006, Daniel discusses this issue with Marius van Blerck, director of Group Tax at Standard Bank.

How do you deal with the processes of a SARS audit? Why are Transfer Pricing provisions constitutionally invalid and not enforceable? What amnesty is available in 2006 to corporate taxpayers for undisclosed income (not just for small businesses) and what is the effect of the Royalty Judgment on royalty payers?

Don't miss this 1-day workshop presented by Daniel Erasmus, to find out how you can prevent your business from falling foul to the law, in any of these areas.

Following a successful seminar held in Johannesburg, FASA and sponsor FND, are pleased to announce that they have scheduled two Seminars on "How to Overcome the Latest Regulatory Challenges in The Franchising Industry in South Africa" Daniel Erasmus will tackle that "Landmark Disallowance on Tax Deductions for Royalties" and Johnson Matshivha will talk on "Price Fixing Puts Franchising in the Spotlight." The Seminars will also give all FASA members the opportunity to meet with FNB's new franchise team and with Vera Valasis, FASA's Executive Director. The seminars will be held:

Tax Issues Interview: Ernie Lai King, director of Denys Reitz Tax

D-day for submitting tax returns is around the corner. What tax skeletons lurk in your closet? Daniel Erasmus, host of the programme Tax Issues, broadcast on Summit TV on Monday night, discussed this issue with Ernie Lai King, director of Denys Reitz Tax.

To start off, Daniel and Ernie determined that there were three kinds of tax skeletons. The first was the innocent skeleton, where a legitimate mistake was made. Secondly, there was the skeleton that was based on bad advice.

Tax Issues Interview: Marius van Blerck, director of Group Tax at Standard Bank.

What are the prescriptions and prevailing practice when it comes to Section 79 of the Income Tax Act that states that a tax assessment should be closed off after three years? Daniel Erasmus, host of the programme Tax Issues, broadcast on Summit TV last Monday night, discussed this question with Marius van Blerck, director of Group Tax at Standard Bank.

From personal individual tax to significant company tax changes - the subject is a hotly debated issue throughout South Africa's corporate environment. Tax Issues - every Monday at 20h40pm and again at 22h40pm - demystifies some of the latest developments and issues being discussed in the corridors of power. Tax Issues will cover; The impact of pending new tax laws on individuals and companies, The capital gains tax debate, New SARS initiatives to collect tax Changes to tax benefits, The VAT vs personal tax debate.

Tax Bulletin published by The Practical Tax Handbook - Fleet Street Publications (Pty) Ltd

Tax invoices can be tricky. SARS has specified exactly what details need to appear on a tax invoice, but the problem is conflicting information is given from various SARS offices as to what format of tax invoice is acceptable.

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Contact Janine at
janine@taxtalk.co.za
(011) 476 5048