Services
Specialist Tax Consulting Services, Tailored to Your Business
Explore Our Range of Expert Taxation Services for Small and Medium Enterprises (SMEs) to Simplify, Optimize, and Implement Taxes for All Stakeholders, Building Long-Lasting Relationships and Adding Value to Your Business
What We Offer
Expert Tax Consulting Services for Your Business
Explore Our Range of Expert Taxation Services for SMEs.
Mergers and Acquisitions
Put simply, when a company aims to streamline operations, it may consider selling all or part of its business to another company (sell-side). Conversely, a company looking to diversify or expand may seek to acquire another business (buy-side).
In both scenarios, savvy businesses opt to collaborate with seasoned advisors to conduct comprehensive due diligence investigations before proceeding with any transaction.
Tax Planning
In South African tax law, there are no prohibitions against minimizing one’s tax liability, a principle firmly rooted in our common law. Although the Income Tax Act includes provisions addressing transactions entered into solely for tax evasion purposes, many tax-saving strategies have withstood scrutiny in court, often meeting either a business or substance test when challenged by SARS.
Tax Dispute Resolutions
Are you currently facing a tax dispute with SARS? Effectively resolving such disputes demands the expertise of skilled tax advisors who possess a deep understanding of tax law complexities and employ effective strategies for achieving favourable outcomes. Tax Translate provides comprehensive technical support to our clients throughout all stages of tax disputes with SARS. Together, we have successfully saved taxpayers millions by minimizing unnecessary taxes, penalties, and interest through our adept tax dispute resolution services.
Tax Rulings
If you require clarity and certainty regarding the tax treatment of an unconventional transaction not explicitly covered by tax legislation, the Advance Tax Ruling (ATR) system is designed to provide guidance. It aims to ensure consistency and certainty in how tax laws are interpreted and applied by SARS.
To obtain clarity on SARS’s interpretation and application of tax laws for specific transactions, you can also seek either a Binding Private Ruling (BPR) or a Binding Class Ruling (BCR). A BPR applies to an individual taxpayer’s circumstances, while a BCR applies to a class of taxpayers or transactions that are identical or substantially similar. These rulings offer authoritative guidance on how SARS will treat the tax implications of the proposed transaction.
We assist corporate taxpayers in gaining clarity from SARS on the tax implications of proposed transactions through the advance tax ruling system. Our comprehensive services encompass drafting applications from the outset, meticulously reviewing your submissions, and providing strategic insights. These insights can substantially influence whether the ruling ultimately favours or challenges your position.
Commercial Transactions
The South African tax landscape is expansive and sophisticated, necessitating careful consideration and planning of commercial activities in alignment with applicable tax laws to ensure compliance. Without diligent planning, businesses expose themselves to heightened scrutiny from SARS, potentially leading to costly disputes and litigation over challenged transactions.
Cross Border Taxations
Taxation for multinational groups involved in cross-border transactions is intricately complex, involving not only compliance with in-country tax laws but also navigating Double Taxation Treaties between countries. This demands meticulous management of tax affairs, a service in which Tax Translate specializes and can provide expert assistance.
SARS Tax Penalties and Interest
We all make mistakes. However, late payment of taxes, underestimation of taxes payable, and various other errors can lead to SARS imposing penalties and interest for non-compliance. In some cases, these penalties can be as severe as 200 percent of the outstanding tax amount. At Tax Translate, we have a proven track record of successfully helping clients apply for waivers of these penalties whenever possible.
SARS Audits
After a taxpayer submits their tax return, SARS sends formal correspondence in the form of a notice to inform the taxpayer of their decision to conduct an audit. Typically, this notice includes a request for pertinent documents and information.
VAT Refunds
Experiencing it firsthand is crucial to fully understand the frustration that arises when certain SARS officials audit your Value-Added Tax (VAT) refund before processing payment, be prepared for a lengthy and frustrating process, especially when your business urgently needs the cash flow.
Voluntary Disclosure Programme
If you fail to fully disclose your income or tax liabilities to SARS, you risk coming under their scrutiny and facing significant penalties, which can be as high as 200 percent of the undeclared amount in some instances. Currently, SARS is intensifying its efforts in tax collection, making it wise to consider submitting a Voluntary Disclosure Programme (VDP) application before SARS initiates enforcement actions against non-compliant taxpayers.
Customs and Excise
Our Customs and excise Specialist, Carridine Brooks has extensive knowledge and experience in assisting clients with the following:
Customs Compliance Services:
- Obtaining permits from authorities such as ITAC, SARS, NRCS, etc.
- Conducting monthly or ad hoc compliance reviews on Customs documentation.
- Performing audit readiness reviews before applying for Preferred Trader Accreditation with SARS.
Import and Export Planning Services:
- Providing planning advice on transaction impacts including customs valuation, tariff, origin, rebates, and drawback considerations.
- Optimizing the customs supply chain for efficiency.
Technical Advisory Services:
- Offering expert opinions on various aspects of Customs and Global Trade matters.
- Providing technical assistance on specialized incentive programs like the Automotive Production Development Programme (APDP), including diagnostic reviews, APDP systems analysis, and advice on rebate maximization.
SARS Customs IT14SD Reconciliation Assistance:
- Compiling Customs submissions and assisting with reconciliation processes.
Assistance with SARS Audits:
- Supporting clients during SARS audits to ensure compliance and resolve issues effectively.
Customized Technical Training:
- Delivering training on various aspects of Customs legislation and APDP Regulations tailored to client needs.
Implementation of IT Platforms:
- Deploying IT solutions for tracking Customs movements and enhancing control processes.
Outsourced Solutions:
- Providing customized customs resourcing solutions based on client requirements.
Foreign Account Tax Compliance Act (FATCA)
Our FATCA Specialist, Avril Bell has extensive knowledge and experience in assisting clients with the following in relation to FATCA:
CONSULTING
- Create AEOI Policies and Procedures for an entity or expanded affiliated group.
- Review existing AEOI Policies and Procedures and provide a gap analysis and solutions.
- General training which includes:
- What is FATCA and CRS?
- How to Comply with FATCA and CRS.
- Reporting requirements for FATCA and CRS.
- Bespoke Training.
- Provide solutions to specific requests and guidance required.
- Analyse and provide guidance in response to Tax Authority FATCA and/CRS audit requests.
- Provide account holder due diligence and reporting services.
- FATCA and CRS entity classifications.
- GIIN Registrations with the IRS.
- Tax Authority Portal Registrations for FATCA and CRS reporting.
- Completion of IRS W-Series Forms.
- Completion of Financial Institution self-certification forms.
Jurisdictions currently supported:
- Bahamas
- Barbados
- Belize
- British Virgin Islands
- Belize
- Cayman Islands
- Guernsey
- Isle of Man
- Jersey
- Malta
- Mauritius
- Panama
- Singapore
- South Africa
- St Kitts and Nevis
- United Kingdom
Our Testimonials
Tax success stories, revealed.
"Sadia's knowledge is well beyond her field! I now understand the difference between a tax advisor and an accountant."
CEO - RB Design & Print
Our firm recently had the pleasure of working with Sadia Ismail on a high profile tax matter that was critical to a case our firm dealt with. Sadia's expertise and thorough understanding of complex tax laws were instrumental in navigating the challenges our client faced in the matter. Sadia provided not only exceptional strategic guidance but also demonstrated an unwavering commitment to our case, ensuring every detail was meticulously addressed. The outcome was favourable beyond our or our client's expectations, and we are deeply grateful for Sadia's professionalism and dedicated service. We highly recommend Sadia Ismail to anyone seeking top notch tax consultancy services.
CEO - Steyn IP