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    Some clarity on what constitutes a “class” of creditors in a section 155 compromise
    2018-06-06

    The Gauteng Division of the High Court recently delivered a judgment in the matter of The Commissioner for the South African Revenue Service and Logikal Consulting (Pty) Ltd and Others, Case No. 96768/2016, in which the court had to interpret, among other things, what comprises a “class” of creditors as contemplated in s155(2) of the Companies Act, No 71 of 2008.

    Filed under:
    South Africa, Insolvency & Restructuring, Litigation, Tax, Cliffe Dekker Hofmeyr, South African Revenue Service, Insolvency Act 1986 (UK), High Court of Justice (England & Wales)
    Authors:
    Kgosi Nkaiseng , Lebohang Khoanyane
    Location:
    South Africa
    Firm:
    Cliffe Dekker Hofmeyr
    The cloud of doubt no longer hanging over doubtful debts?
    2018-08-03

    Following on from our previous tax alerts regarding the various proposed amendments pursuant to the draft Taxation Laws Amendment Bill, 2018 (draft TLAB) published for public comment on 17 July 2018, we discuss in this Tax Alert another significant proposed legislative amendment, specifically related to the allowance for doubtful debts set out in s11(j) of the Income Tax Act, No 58 of 1962 (Act). 

    Filed under:
    South Africa, Insolvency & Restructuring, Litigation, Tax, Cliffe Dekker Hofmeyr, South African Revenue Service
    Authors:
    Jerome Brink
    Location:
    South Africa
    Firm:
    Cliffe Dekker Hofmeyr
    New bill aims to clarify assumption of contingent liabilities under corporate reorganisation rules
    2017-08-25

    On July 19 2017, the National Treasury published the Draft Taxation Laws Amendment Bill 2017. The bill proposes to clarify the tax implications that arise when a person assumes contingent liabilities under the corporate reorganisation rules contained in Sections 41 to 47 of the Income Tax Act (58/1962).

    Interpretation note

    Filed under:
    South Africa, Insolvency & Restructuring, Tax, Cliffe Dekker Hofmeyr, South African Revenue Service
    Authors:
    Mareli Treurnicht
    Location:
    South Africa
    Firm:
    Cliffe Dekker Hofmeyr
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