Reportable arrangements: Tax partner perceptions of some problematic terminology
The South African Revenue Service (SARS) implemented a more aggressive reporting system in 2008 by introducing new reportable arrangements ('RA') provisions in the Income Tax Act. In March 2010, SARS issued a revised Draft Guide to Reportable Arrangements for public comment. More than thre...
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doaj-b217bb80f820459dbada2be00f0a83532021-02-02T00:32:28ZengAOSISJournal of Economic and Financial Sciences1995-70762312-28032014-04-017114518610.4102/jef.v7i1.135132Reportable arrangements: Tax partner perceptions of some problematic terminologyLee-Ann Steenkamp0Peter Cramer1Department of Accounting, University of Western CapeCollege of Accounting, University of Cape TownThe South African Revenue Service (SARS) implemented a more aggressive reporting system in 2008 by introducing new reportable arrangements ('RA') provisions in the Income Tax Act. In March 2010, SARS issued a revised Draft Guide to Reportable Arrangements for public comment. More than three years after its release, there is still no finalised, updated guide available to address the 'new' RA provisions. Determining when arrangements should be reported to SARS therefore remains both problematic and onerous. It is the purpose of this article to examine some of the problematic terminology in an attempt to afford South African taxpayers greater clarity in the identification and disclosure of RAs. The research findings are tested through a survey conducted among tax partners and directors at a sample of 40 leading audit and legal firms in South Africa. The majority of respondents agreed with the conclusions drawn from the literature study.https://jefjournal.org.za/index.php/jef/article/view/135arrangementparticipantpenaltypromoterreportable arrangementSARSSouth AfricaTax Administration Acttax benefittax partner |
collection |
DOAJ |
language |
English |
format |
Article |
sources |
DOAJ |
author |
Lee-Ann Steenkamp Peter Cramer |
spellingShingle |
Lee-Ann Steenkamp Peter Cramer Reportable arrangements: Tax partner perceptions of some problematic terminology Journal of Economic and Financial Sciences arrangement participant penalty promoter reportable arrangement SARS South Africa Tax Administration Act tax benefit tax partner |
author_facet |
Lee-Ann Steenkamp Peter Cramer |
author_sort |
Lee-Ann Steenkamp |
title |
Reportable arrangements: Tax partner perceptions of some problematic terminology |
title_short |
Reportable arrangements: Tax partner perceptions of some problematic terminology |
title_full |
Reportable arrangements: Tax partner perceptions of some problematic terminology |
title_fullStr |
Reportable arrangements: Tax partner perceptions of some problematic terminology |
title_full_unstemmed |
Reportable arrangements: Tax partner perceptions of some problematic terminology |
title_sort |
reportable arrangements: tax partner perceptions of some problematic terminology |
publisher |
AOSIS |
series |
Journal of Economic and Financial Sciences |
issn |
1995-7076 2312-2803 |
publishDate |
2014-04-01 |
description |
The South African Revenue Service (SARS) implemented a more aggressive reporting system in 2008 by introducing new reportable arrangements ('RA') provisions in the Income Tax Act. In March 2010, SARS issued a revised Draft Guide to Reportable Arrangements for public comment. More than three years after its release, there is still no finalised, updated guide available to address the 'new' RA provisions. Determining when arrangements should be reported to SARS therefore remains both problematic and onerous. It is the purpose of this article to examine some of the problematic terminology in an attempt to afford South African taxpayers greater clarity in the identification and disclosure of RAs. The research findings are tested through a survey conducted among tax partners and directors at a sample of 40 leading audit and legal firms in South Africa. The majority of respondents agreed with the conclusions drawn from the literature study. |
topic |
arrangement participant penalty promoter reportable arrangement SARS South Africa Tax Administration Act tax benefit tax partner |
url |
https://jefjournal.org.za/index.php/jef/article/view/135 |
work_keys_str_mv |
AT leeannsteenkamp reportablearrangementstaxpartnerperceptionsofsomeproblematicterminology AT petercramer reportablearrangementstaxpartnerperceptionsofsomeproblematicterminology |
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