In the recent Appeal Court case of Airtel Uganda Limited v. Uganda Revenue Authority, the provisions of section 15 of Uganda’s Tax Appeals Tribunal Act (TAT Act) and their wider implications came under scrutiny. In the case at hand, Airtel Uganda Limited (Airtel), a telecommunication company, lodged an objection to an assessment raised by the Uganda Revenue Authority (URA) on 25 February 2004 with the Tax Appeals Tribunal (TAT) ...
Given the difference between the effective rate of tax on capital gains and the highest marginal rate of tax imposed on income, in particular for individuals, it is important to determine whether the proceeds from the disposal of an asset are subject to capital gains tax or to income tax. In the Pick ‘n Pay case, the proceeds from the sale of certain shares were found to be capital in nature ...
A recent report published by the White House Council of Economic Advisers (“CEA”) on drug pricing in the United States of America has put the cost of medicine and the access thereto by the poor, firmly back in the spotlight. And on a global scale. In the CEA report, President Donald Trump’s administration argues that the USA pays higher prices for pharmaceuticals because other developed countries have systems in place to actively force down drug pricing ...
In light of the first Coronavirus case being confirmed in South Africa yesterday, employers will need to be more stringent in their approach to managing what the World Health Organisation (“WHO”) has declared to be “a global health emergency” in their workplaces. It has been said that false information about COVID-19 (otherwise known as the Coronavirus) is spreading faster than the virus itself ...
In light of the first Coronavirus case being confirmed in South Africa yesterday, employers will need to be more stringent in their approach to managing what the World Health Organisation (“WHO”) has declared to be “a global health emergency” in their workplaces. It has been said that false information about COVID-19 (otherwise known as the Coronavirus) is spreading faster than the virus itself ...
They’ve finally taken the plunge and decided to go it alone, they’re just about to launch the brilliant business plan that’s going to set them up for life and then, out of the blue, granny puts her oar in and everything goes pear-shaped. Just a month ago, we wrote about how Harry and Meghan were set to launch their Sussex Royal brand ...
David Beckham is in the news again. This time it’s all about a new US football venture. A venture that has run into a trade mark problem. Beckham is heavily involved in the formation of a new Major League Soccer (“MLS”) professional football team that will be based in Miami, Florida. The team’s first home game is scheduled to take place very soon, 14 March 2020 ...
An article entitled “Cyprus Gets Its Halloumi Back” would leave most people scratching their heads. But a reader of Trademark Lawyer Magazine would immediately appreciate that it deals with the increasingly important issue of geographical indications and designations of origin. The issue described in the article is almost comical. Halloumi is, of course, a type of cheese, one that is closely associated with the island of Cyprus ...
When dealing with a workplace issue, an employer should be careful to identify the problem in question correctly so that the appropriate steps are taken. Failing to do so could lead to unnecessary or incorrect processes being followed, which could expose the employer to claims of unlawful or unfair conduct ...
Amazon is apparently the world’s most valuable brand, and is one that plays an increasingly important role in our lives. Although most of us know it as an online retailer, a recent BBC documentary describes it as being every bit as much a data-company, one that knows more about us than we know ourselves. We’ve reported on how Amazon is under considerable pressure to deal with the fact that counterfeit goods can be and are sold on its online platform ...
Greta Thunberg has the ability to divide opinion like few other celebrities, with a surprising number of people finding her strangely threatening. Perhaps it’s simply because Greta is always in the news, for instance, managing to winTime Magazine’s2019 Person of the Year award at the age of 17. She has been in the news again, this time in the context of trade marks ...
In a slightly surprising, but nevertheless welcome, South African 2020 Budget Speech today, the Honourable Minister of Finance announced that there would be no significant tax increases to the major taxes for the forthcoming tax year. Widely anticipated increases to value-added tax (“VAT”), income tax, capital gains tax and estate duty did not materialise ...
A loud warning has been sounded to those inclined to follow practice rather than the strict letter of the law in divorce matters in Uganda. In Nagidde v Mwasa (Civil Appeal No, 168 of 2019), the trial judge granted a divorce without holding a hearing or receiving evidence from the parties, stating that the marriage had irretrievably broken down on account of irreconcilable differences ...
The Companies and Intellectual Property Commission reported that between 2011 and 2018, a total of 2 867 South African companies initiated business rescue proceedings in terms of Chapter 6 of the Companies Act, 2008 (the “Companies Act”), with South African Airways SOC Limited (“SAA”) being the latest addition to this list ...
We have recently seen that the South African Revenue Service (“SARS”), in conducting audits in respect of taxpayer’s affairs, places reliance on section 99(4) of the Tax Administration Act, 2011 (“TAA”) to unilaterally extend the time period within which an assessment prescribes. Section 99(1) of the TAA deals with the period of limitation in respect of the issuance of assessments ...
With the growing globalisation of economic activity characterised by free movement of goods, capital and labour, more and more Rwandan residents are now working outside Rwanda, doing business with or in foreign countries, holding shares in non-resident companies and extending loans to non-resident borrowers. However, the tax treatment in Rwanda of foreign income earned from such activities is still the subject of some uncertainty, particularly with respect to double taxation relief ...
On 13 February 2020, the South African President announced the promulgation of certain significant sections of the Competition Amendment Act, 2018, including a change to the confidentiality regime, the new buyer power provision and the new price discrimination provision. The Minister of Trade and Industry has also published new regulations on buyer power and price discrimination ...
South African readers will know that Meghan Markle was a recent visitor to our shores. Meghan’s husband Prince Harry came too, but people weren’t too interested in him. As far as I am aware, Meghan had no problems with the South African press. She also had no copyright issues in South Africa. So, a far cry from what she is experiencing right now in the UK, her adopted home. Meghan is now involved in legal proceedings with the Mail on Sunday, a major British newspaper ...
The London Interbank Offered Rate (“LIBOR”) is expected to cease after the end of 2021. In particular, LIBOR-linked loans may not be offered after Q3 2020. This will impact the variable rate in LIBOR-linked financial products. Since the 1980s, LIBORhas been used widely as an interest rate benchmark to calculate the interest rate applicable to financial products. These rates are written into loans, derivatives agreements, and many other contracts ...
NEWSFLASH The commencement date of POPIA is no April Fool’s joke. the Chairperson of the Information Regulator, Advocate Pansy Tlakula, recently sent a request to President Cyril Ramaphosa to declare that the remaining provisions of the Protection of Personal Information Act, 2013 (“POPIA”) commence on 1 April 2020 (“commencement date”). it is expected that the president will act on this request ...
Case Law The Tax Court of South Africa, Cape Town IT 24819 whether insufficiency of funds was not reasonably foreseeable, and therefore constitutes reasonable grounds for non-payment of employees tax, considered. correct interpretation of the number of days for payment of employees tax considered as a point in limine. find a copy of this judgment here ...
Market inquiries have become a prominent feature of the South African competition law landscape. Historically, the Competition Act, 1998 did not afford the Competition Commission (the“Commission”) the power to take binding remedial action. The Commission was limited to producing reports containing non-binding “recommendations” or lobbying for changes to the way business is done following a market inquiry ...
Following the presentation of the 2020 Budget proposal and Finance Bill, 2019 to the National Assembly in October 2019, the President of the Federal Republic of Nigeria, MR. Muhammadu Buhari, signed the Bill into law on 13 January 2020. The Finance Act, 2019 (the “Act”) introduces amendments to the Companies Income Tax Act, Value Added Tax Act, Petroleum Profits Tax Act, Personal Income Tax Act, Capital Gains Tax Act, Customs and Excise Tariff Act and Stamp Duties Act ...
