n Tax Breaks Newsletter - Royalty deductions disallowed
|Article Title||Royalty deductions disallowed|
|© Publisher:||Moneyweb (Pty) Ltd|
|Journal||Tax Breaks Newsletter|
|Publication Date||Jan 2006|
Extracted from text ... IN A recent Special Court judgment dealing with the deductibility of royalty payments for the use of trademarks and other brand assets, the court reached a conclusion which could have far-reaching consequences for many businesses in South Africa, advises Werksmans Attorneys. The facts of the case were that, during the 1950s, a local company was authorised by its controlling offshore company to use, free of royalty, certain trademarks and other designs owned by the offshore company in the furtherance of the local company's business operations in South Africa. During 1997, this arrangement was formalised in an agreement, one of ..
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