n Tax Breaks Newsletter - SARS tightens screws on tax-avoidance schemes : tax-avoidance




Extracted from text ... TAX AVOIDANCE SARS tightens screws on tax-avoidance schemes By KATHY THERSBY IMPERMISSIBLE is the new buzzword at SARS - as in 'impermissible tax avoidance', a term the Revenue Service has coined to describe its next least-favourite bugbear after tax evasion. Basically, impermissible tax avoidance encompasses all those clever tactics taxpayers and tax advisers have come up with over the years to minimise SARS's take of their earnings. Finance Minister Trevor Manuel told us in the February Budget speech that SARS had plans to beef up its anti-avoidance legislation, and now a discussion paper regarding an overhaul of the general ..


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