United States: Senate Finance Committee Holds Hearing On Energy Tax Reform

Tax reform has been a hot topic as of late, particularly for the energy sector.  On September 17, 2014, the Senate Finance Committee continued the focus on energy tax reform by holding a hearing on “Reforming America’s Outdated Energy Tax Code.”  The hearing followed a trio of major proposals released this past year to revise the Internal Revenue Code’s energy tax provisions.  Last December, former Senate Finance Committee Chairman Max Baucus (D-MT) released a […]

By |October 1st, 2014|

South Africa: Proposed Amendments To The Tax Administration Act

The draft Tax Administration Laws Amendment Bill 2014 (“DTLAB 2014”) was published for public comment by National Treasury on 17 July 2014 and proposes a number of amendments to the Tax Administration Act No. 28 of 2011 (“the TAA”). In this article, we deal with some of the most pertinent proposals set out in the DTLAB 2014.
Requests for relevant material
In terms of section 46 of the TAA, the South African Revenue Service (“SARS”) may, for the purposes […]

By |September 30th, 2014|

South Africa: Share Lending Arrangements – More Tax Changes!

The securities lending industry has seen many changes to the taxation of share lending arrangements in South Africa during the last couple of years. In particular, since the introduction of dividends tax on 1 April 2012, the provisions in the Income Tax Act (the “Act”) which relate to the income tax and dividends tax treatment of dividends received by borrowers of JSE listed shares and payments made by such borrowers have been regularly amended, often with […]

By |September 30th, 2014|