In the times we live in, it is most common that many taxpayers acquire debt in both their individual and business capacity. In addition to this, many taxpayers have frequent international transactions in their trade. As both of these have been seen by authorities to often result in schemes to reduce tax liabilities, there are very specific provisions in the Taxation law that governs the tax treatment of the results of these transactions.
For this reason, ProBeta Training offers a session aimed at explaining and applying the effect of Section 24I and Section 24J of the Income Tax Act, as well as the relevant practice notes related to them.
This session is set up to address the application of the relevant taxation laws, including but not limited to:
• A coverage of the requirements and limitations surrounding the deductibility of interest expenses and forex losses, as well as the inclusion of interest income and forex gains
• Practical application of the principles covered, including step by step calculations
• Overview on other sections of legislation that might impact on these transactions
• Discussion of other relevant practice notes that are currently or may in future impact the deductibility of these items
Financial managers, Tax Practitioners, Auditors, Bookkeepers, Financial accountants, First year SAICA Trainees, Second year SAICA trainees, and Third year SAICA trainees
