• 2022 Budget speech proposals and monetary rates and amounts • Selective amendments promulgated during 2021, becoming effective 2022, to be discussed in detail include: o Employees’ Tax:  Curbing the abuse of the Employment Tax Incentive  Estimated assessments and penalties  Long service awards and fringe benefits o VAT:  New Section 18D for property developers and temporary letting o Income Tax:  Corporate restructuring, value shifting and anti-avoidance rules  Limitation of interest deductions for companies  Amendments concerning contributed tax capital  Amendments concerning controlled foreign companies o General and Tax Administration:  Timing of disposals by deceased estates  Disposals of rights to assets and deemed disposals  Estimated assessments and taxpayer submissions to oppose it • Selective responses and decisions from National Treasury to commentary on the draft legislation published in 2021, including withdrawals and postponement of proposed amendments, including: o The taxation of retirement benefits upon ceasing to be resident o The ringfencing of assessed losses for companies o The anti-avoidance amendments relating to loans between trusts • Update on the emigration and TCS process, including an overview of the related amendments that have become effective or were otherwise withdrawn • Selective interpretation notes and SARS rulings issued during 2021 and 2022 that had a significant impact on taxpayers: o Interpretation Note 28: Deductibility of home office expenses (including an overview of the updates, submissions by stakeholders and FAQ’s) o Draft Interpretation Note on the meaning of “readily apparent undisputed error”, including an overview of the submissions by stakeholders o Binding General Ruling 57: Consideration for VAT purposes and transfer duty for second-hand properties • Selective court rulings from 2021 and 2022 that had a significant impact on the tax environment: o VAT: Rappa Resources v CSARS – entitlement to a VAT refund o VAT: Tourvest Financial Services v CSARS – establishing the exempt nature of supplies o Income Tax: Clicks Retailers v CSARS – deductions in terms of Section 24C o Tax Administration: Arena Holdings and others v CSARS – disclosure of taxpayer information in the public’s interest o Tax Administration: Purveyors SA Mine Services v CSARS – voluntary nature of disclosure made under a VDP o Income Tax: IT 24790 – deductibility of leave and bonus accruals • Recent issues taken up with SARS by regulatory bodies on operational matters and other matters of interest

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