|
Government Links
South African Revenue
Service (SARS)
Miscellaneous Resources
Annual Report 2007/2008 (Part 1)
Annual Report 2007/2008 (Part 2)
According to the
annual report, large corporations are pushing the boundaries in that they
regularly took controversial positions in areas such as transfer pricing,
tax structuring, valuations, and international tax. The report
said SARS was concerned about compliance in transfer pricing, particularly
in manufacturing and structured finance transactions, which were more
attractive with high interest rates.
SARS
commissioner Pravin Gordhan spoke at a South African Institute of Chartered
Accountants financial services conference on November 24, 2008, stating his
concerns at the abuse of transfer pricing among multinationals, particularly
where there were temptations to boost the balance sheets to get more
income. He stated that SARS intends to look more closely at this matter.
|
