Dear Subscriber,

Here's a small sample of what you will get - eliminate all penalties and interest, even if you are proven wrong on the tax consequences of a transaction. This could save your business millions in hidden tax risks.

Tax is something that triggers uncertainty with you as tax managers when you have to face unsuspecting audits from SARS. You are usually unprepared for this, causing unecessary worry. The problem also lies in that you as tax managers are too busy with your daily duties to make time to set up early warning systems that will allow you to anticipate a surprise SARS audit. This adds more to the pressure.

• Tax Managers, are surprise SARS audits worrying you?
• Are you tired of constant unsuspecting SARS audits that keep you away from your usual duties?
• Do you want to stop unplanned SARS audits, with piece of mind?

Your Board will soon realise what you already know that sitting back and not proactively tackling these problems will only lead to more tax exposure in the business, eroding the profits you were hired to protect from unecessary tax leakage!

STOP and ask yourself the question - am I proactive enough in limiting tax leakage in the business?

Free yourself from the gut wrenching answer, and read on ...

It is a Proven Fact that major multi-nationals and smaller businesses which have followed our successful program and guidance have done so with resounding success, eliminating hidden tax risks and stopping SARS audits in their tracks, with candid transparency. If you want more proof, we will show you how.

Can you CONFIDENTLY answer the following questions?

• What is your documented tax strategy?
• How good is your tax department's communication with the rest of your organisation?
• Do they understand what your business's REAL TAX RISKs are?
• Do you know how Corporate Governance affects Tax Risk Management?
• How do you manage your relationship with your largest SILENT business partner, the Revenue Service?

Wouldn't it be amazing that if you follow our successful process, that by the end of this special course you will end up owning the following benefits:

• A hightened and developed skill in uncovering and solving hidden tax risks;
• How to expose hidden taxes to the Revenue Service without penalty;
• Build a sustainable open door policy and relationship with the Revenue Service;
• Eliminate uncalled for and unplanned the Revenue Service surprise audits; and
• Reduce your hidden tax burden, resulting in major hard cash savings for your business;
• Build a capability to draw the Revenue Service to a level of interaction at an administrative level where litigation is avoided;
• Enhance your techniques of reviewing and adjusting tax department objectives to reflect all changing demands - both external to and within your business;
• Develop the skills to create proper systems in line with SOX 404/FIN 48 and work to incorporate all areas of tax risk;
• Plan for optimal communication and co-operation within your business, ensuring a high degree of tax awareness in the business, and facilitating this starting at board level through to key managers;
• Develop the mindset that the Revenue Service should be seen as a business partner with the rest of your business to facilitate a good relationship;
• Understand why Corporates have not kept up with the developments in the taxation industry and are currently overwhelmed by compliance issues and multiple assessments being issued against them;
• Know how to design and create efficient and lean tax risk management processes;
• Understand the relationship between general management and the governance of tax risk;
• Become aware of regulatory changes and be able to educate your business units around them;
• Gain insight into reviewing transactions in light of legislative and regulatory changes, consistency of legal arguments and elimination of tax risk;
• Comprehend the importance of getting involved with the audit committee of your business;
• Understand the impact that the Revenue Service has on your business since their formation of specialized assessment units and assessor teams;
• Understand historic tax issues and the positive impact that establishing an ongoing relationship with the Revenue Service will have on your business.

To claim your benefits under this program, you need to take ONE small step:

Attend this seminar - 7 Habitual Tax Mistakes - And the 7 Key Solutions!, or buy the course material - 7 Habitual Tax Mistakes - And the 7 Key Solutions!, with a FREE consultation with DE Professional Consulting

You are personally guaranteed that you will acquire all the benefits promised, and experience a turnaround in your attitude to existing and hidden tax risks, or you'll be given all your money back. Click here for more information on this event.

Tax Issues
Tax attorney Kerry Watkin will discuss the first of seven habitual tax mistakes companies make on Tax Issues, broadcast on Summit TV (DSTV channel 55) on Wednesday at 20h40 and again at 22h40. Click here for a summary of the full interviews.

Get the TAXtalk Magazine delivered to your postal address, receive a weekly tax electronic newsletter and have 24 hours‘ access to download TAXtalk information and eBooks. You can get all this by SUBSCRIBING to TAXtalk for R50.00 per month or R600.00 annually.

Subscribe online in less than two minutes.

Till next week.
Janine Connor
Head of TAXtalk

Summit TV

Tax attorney Kerry Watkin discussed the first of seven habitual tax mistakes made by businesses on Tax Issues, broadcast on Summit on Wednesday. The first mistake deals with transactions such as mergers, acquisitions and in particular, structured finance transactions.

Nolan Daniels, Senior Tax Consultant, KPMG

Since the inception of personal service companies, labour brokers have been thrust into the limelight. It appears that the South African Revenue Service (SARS) has become proactive and havs decided to concentrate on ensuring that labour brokers are “towing the line”. The provisions of the Fourth Schedule to the Income Tax Act are quite specific and are clear as to the requirements that must be met for a labour broker to enjoy an exemption from employees’ tax.

eTaxjobs is a global job portal exclusively for tax professionals, and an online resource for employers and recruitment firms to advertise their vacancies. eTaxjobs operate in the UK, Europe, USA, Canada, Australia, New Zealand, Africa and around the World.

Available tax jobs for this week are:

• Tax Opportunities with BP, UK
• Assistant Tax Manager, Coors Brewers, UK
• Tax Jobs in Australia - Interviews in London from 22nd June
• Corporate Tax Assistant Manager/Manager, Zambia
• Transfer Pricing Manager/Senior Manager, Ernst & Young, Paris, Amsterdam and London

Tim Desmond - Garlicke & Bousfield Incorporated - ITI News

The application of the double tax agreement. In a recently reported case, the Tax Court in Bloemfontein considered the tax implications of a South African attorney receiving income from a partnership in Lesotho. The case dealt particularly with the application of the double tax agreement between South Africa and Lesotho.

MJ Maluleke, Director, Rooth & Wessels Tax

In South Africa the deductibility or otherwise of an expenditure for purposes of income tax is dealt with in terms of s11(a) read with s23(f) and (g). These sections lay down certain requirements that a taxpayer must comply with in order for the fiscus to allow the deduction from the income of the expenditure in question.

SA Good News

The African economy is expected to grow much faster this year, according to a World Economic Forum (WEF) Report. The African Competitiveness Report shows that the continent`s economic growth rate will increase from last year`s 5.5 per cent to reach 6.2 per cent this year.

TAXtalk invites you to write an article in which you share your views and expertise on tax. Your article can be published in the newsletter for 7000 readers to view, on our website for over 100 000 viewers to see and in the TAXtalk magazine(with your photo) for more than 16 000 readers to read. Make an impression, submit your article NOW.

Article Requirements:
1 Page Article : 900 words  1½ Page Article : 1350 words  2 Page Article : 1800 words
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Submit your article to: janine@taxtalk.co.za or post it to: (P.O Box 1650 Gallo Manor 2052)