Stream 2: Contending with VAT and Other Indirect Taxes
08:30 to 09:30
Pros and Cons of Domestic Savings Products: Ensuring Your Savings Outlive Your Old Age (Panel Discussion)
Taxpayers have many options to choose from in terms of savings (e.g., pensions, collective investment schemes, bank accounts, endowment policies and real estate investment trusts). Each of these instruments has a different commercial and tax profile. The panel will cover the various aspects of these options.
Ascor Financial Advisors
09:30 to 10:30
Investing Offshore: Is the Cost Worth the Risk? (Panel Discussion)
With the release of the Panama Papers and other scandals, multiple efforts are being made to end global tax secrecy and other international tax reduction techniques utilised by the wealthy. The question presented is whether offshore havens remain a meaningful tool for tax reduction in terms of wealth planning, especially given the higher level of audit once revealed.
Hugo van Zyl
FNB Fiduciary Premium
Geneva Management Group
10:30 to 11:00
11:00 to 11:45
Risks of Obtaining the VAT Zero-Rating When Exporting Services (Panel Discussion)
Cross-border services are becoming the dominant form of global trade. The export of services poses many challenges, including the applicability of the zero-rating for exports. This session covers the risks of proving the zero-rating in terms of documentation as well as the viability of the legislative avenues for obtaining this zero-rating.
Dr Ferdie Schneider
11:45 to 12:30
Imported Goods: The VAT and Customs Connection (Mini-Panel Discussion)
South Africa continues to be heavily reliant on imports for many goods (some of which are re-exported into other African countries). The panel will explore the risks of obtaining VAT input credits and customs rebates in terms of imports.
12:30 to 13:30
13:30 to 14:00
The Need for VAT Cash-Basis Accounting in the Case of Small Business (Solo Speaker)
Many VAT systems allow small companies the option of utilising cash basis accounting as opposed to the invoice method. This avenue has been repeatedly requested but government has been consistently reluctant. For debate is the viability and revenue risks associated with allowing a cash basis VAT system for small companies.
Charles de Wet
14:00 to 14:30
Where There is Smoke There is Diesel: The Refund Issue (Mini-Panel Discussion)
Diesel rebates are an important method of enhancing cash flow in terms of mining, farming and shipping. However, these rebates have increasingly become the subject for controversy at an audit level. The panel will discuss the risks associated with diesel rebates and the possible trends going forward.
Erika de Villiers
14:30 to 15:00
The Supply of VAT Going Concerns in Light of the 2017 SARS Draft Interpretation Note (Solo Speaker)
SARS has recently released a draft interpretation note relating to the zero-rating for the sale of a going concern. This session covers the notable aspects of the draft note and various methods for easing VAT cash flow concerns when transferring going concerns.
15:00 to 15:30
15:30 to 16:30
Income Tax and VAT Refunds: What is the Real Story? (Town Hall Discussion)
Much has been said in the media about the stickiness of obtaining refunds. For examination is the veracity and source of this narrative as well as whether all taxpayers or only certain taxpayers are being impacted.