PwC provides a great summary each month of key tax cases in South Africa.
This edition deals with these important judgments:
- The SARS discretion with trading stock – Tax Court, in Case No. 13626 (judgment delivered on 18 May 2018), the court was asked to consider whether the adoption of IFRS principles was a satisfactory reason and whether the methods applied resulted in a just and reasonable diminution in the value of the trading stock;
- Tax compliance status – Gauteng Division of the High Court in Pretoria in the matter of Red Ant Security Relocation and Eviction Services (Pty) Ltd v Commissioner for the South African Revenue Services (Case No. 2999/18, judgment delivered 21 May 2018), in which the rights, duties and obligations were considered;
- A decision based on procedural issues rather than the merits -Western Cape Tax Court in ITC 1904 (2018) 80 SATC 194.