Dear Subscriber,

This week on Tax Issues we discussed the issue of transfer pricing with Michael Honiball, director of international tax at KPMG.

We questioned whether there was truth in the perception that there was an increase in audits regarding transfer pricing. There are two kinds of SARS audits; those that focus on general tax matters such as PAYE or VAT and those that are more specific, as in the case of transfer pricing. Tax Issues further questioned how far back these audits went, the issues that were relevant to these audits, factors to consider when determining transfer price and the uncertainty surrounding this issue. A summary of the complete interview is available on the Tax Talk website: www.taxtalk.co.za

Tax Talk would like to extend an invitation to you, our subscriber, to write to us about the tax topics that you would like us to interview the experts on. Tax Issues is broadcast on Monday at 20h40 and again at 22h40 on SUMMIT TV (DSTV CHANNEL 55).

On Monday the 11th September 2006, Tax Issues interviews tax lawyer, Kerry Watkin, where we discuss what the in duplum rule is and how it applies to tax?

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Until next time
Tax Talk Publisher

Tax Talk

Tax Issues, broadcast on Summit TV on Monday night, discussed the issue of transfer pricing with Michael Honiball, director of international tax at KPMG.

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• Where do you think your greatest Tax Risk lies?
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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 COMPLETE TAX 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.

Sanchia Temkin - Business Day

COMPANIES involved in cross-border trade in Africa need to manage value-added tax (VAT) risks carefully to avoid incurring costs, says Charles de Wet, a tax partner at PricewaterhouseCoopers.

VAT compliance risks are rising as more African countries adopt VAT regimes. “It is essential for companies to ensure the correct documentation is maintained to manage the VAT risk of pan-African transactions for the supply of goods and services,” De Wet said yesterday.

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.

Staff writer - BigNews

FRANCHISEES may have to pay back over R6 billion in taxes if a recent tax case which the South African Revenue Services (Sars) won against a taxpayer, who attempted to deduct royalty payments that he paid to a franchisor, becomes law.

Tax Talk

A typical Tax Risk Management {TRM} System will lead to controlling and managing any potential tax risk in a group of companies.

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