This case relates to an additional assessment issued by SARS imposing output tax for tax periods from 2012 to 2016 and 2016 to 2017 tax periods, as SARS was of the view that the debtors were not going to be paid. The output tax imposed was equal to the input tax claimed on the invoices received from the partners for services rendered. Appeal was awarded and the assessment set aside.
This tax case is an Appeal to the High Court of South Africa in respect of a provisional preservation order. The Court found that section 163 of the Tax Administration Act should be interpreted widely as per the established precedent. The provisional order was confirmed against all the respondents with costs.
This ruling determines the income tax implications of an employee share incentive scheme that holds shares in a foreign company.
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