Sars asks ConCourt for guidance on interpretation.
In terms of the Tax Administration Act, the South African Revenue Service must impose a penalty when there is an understatement that prejudices the fiscus – unless the understatement was the result of a “bona fide inadvertent error”.
Although the SCA found in favour of Sars in the Thistle Trust and Coronation Investment Management SA cases, it set aside the understatement penalties imposed on the taxpayers. Cimsa successfully appealed the SCA judgment to the Constitutional Court.Coronation aims for the highest court about its tax bill Coronation wins protracted tax battle against Sars The Thistle Trust has also approached the Constitutional Court to appeal the SCA judgment.
“An opinion of senior counsel quite obviously constitutes reasonable grounds for taking a particular position,” it says. Thistle argues that if the opinion was wrong and Thistle erred, the error was a bona fide inadvertent error, and no understatement penalty should have been imposed by Sars.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronation rallies after ConCourt rules in its favour in R800m SARS tax disputeCoronation rallies after ConCourt rules in its favour in R800m SARS tax dispute
Read more »
MK Party accuses IEC, ConCourt of ignoring election rigging evidence - SABC NewsIEC and ConCourt have ignored election rigging evidence.
Read more »
ConCourt rejects MKP bid to halt National Assembly's first sittingConCourt rejects MKP bid to halt National Assembly's first sitting
Read more »
Housing activists not backing down as they head to ConCourt over Sea Point siteHousing activists not backing down as they head to ConCourt over Sea Point site
Read more »
Zimbabweans in South Africa On Exemption Permits Safe for Now After Concourt Rules in Their FavourTHE Constitutional Court last week dismissed an application by the Minister of Home Affairs for leave to appeal a June 2023 Gauteng High Court, Pretoria, judgment which held that the Zimbabwean Exemption Permit (ZEP) had been unlawfully terminated.
Read more »
‘SABC never paid full R11.5m to me’ – Hlaudi Motsoeneng heads to ConCourtFormer SABC COO Hlaudi Motsoeneng has turned to the ConCourt to appeal a ruling compelling him to pay back R11.5 million.
Read more »