PKF Durban

By Paul Gering, Partner, PKF Durban The American Revolution drew force from the clarion call, ‘No taxation without representation’. Britain emerged from the Seven Years’ War with substantial debt and sought to raise more revenue from its American colonies. Measures including the Stamp Act, the Townshend duties and the Tea Act affected paper and legal documents, glass, tea and other goods. The Boston Tea Party followed in 1773, helping to intensify the conflict that led to the American Revolution.

By Kubashni Moodley, Partner, PKF Durban Many South African businesses are funded by foreign holding /group companies or other connected non-tax resident persons (including individuals). These loans vary from interest free to interest-bearing, both of which may have accounting and tax implications, which are generally not considered in sufficient detail. This simple example is provided to highlight the potential tax risks that may arise.