Tax | South Africa

Tax

We are where you need us

As local and international tax rules become more complex, and compliance and reporting obligations more onerous, managing these requirements is a significant challenge.  CMS has a multidisciplinary team that monitor developments in tax law and policy which affect our client’s affairs.

We help in developing robust solutions that maximise tax effectiveness and can anticipate future regulatory developments. We will work with you to ensure on-going compliance in your structures and implement the transactions in the best and most compliant manner for our clients.

Our tax services are aimed at achieving the best outcomes for clients, whether they are a financial institution, multinational, fund, corporate investor or high - net worth individual. Our compliance advice is commercial, balanced, cautious, but practical.

Our teams work together across all sectors and all areas of tax affecting your business including: income tax, VAT, customs, transfer pricing, tax structuring and tax disputes.

If you are involved in a dispute, an early intervention with the tax authorities on your behalf can ensure the best outcome for your business.

Tax & Advisory Services

We solve your challenges and create solutions for:

  • applying for the scientific and technological research and development tax incentives 
  • customs and excise
  • drafting advance tax rulings and submitting the necessary applications
  • employee share incentive schemes and other remunerative structures
  • estate planning and donations tax
  • exchange control
  • financing and re-financing advisory
  • international tax advisory 
  • taxation principles in relation to financial instruments and the taxation of derivative instruments
  • tax dispute resolution
  • tax due diligence investigations
  • tax implications of structured finance
  • tax management
  • tax solutions for merger acquisitions, group re-organisations, group rationalizations and general corporate transactional work (including, asset disposals and acquisitions, corporate finance, corporate).

In addition to the above, we provide opinions and advice on the interaction between taxation, exchange control and the legal implementation of transactions. We also prepare applications to Authorised Dealers and the Financial Surveillance department of the South African Reserve Bank and are closely monitoring developments in the change control regime.

High Net-Worth Individuals & Private wealth

Over the years, our team has advised and worked alongside the private wealth divisions of various local and international banks.  

We can assist with:

  • all corporate issues
  • advising on family business affairs & transactions
  • advising on prescription of loans
  • estate planning
  • exchange control for externalising funds
  • foreign trust funding
  • local & Foreign Trust advice
  • realising family businesses, assets & others at optimal tax rates
  • transferring assets into a Trust in a tax efficient manner

Financial Instruments 

A number of  the team members come from a very strong banking law background.  As a result, they have extensive experience with financial transactions, including analysing or developing financial instruments and derivative instruments in a range of commercial scenarios.

Very few tax advisors have had similar exposure to this field, which we are well - versed in and have a good grasp of the legal framework to be applied. 

CMS RM Partners' team is recognised for corporate tax and disputes, with a strong weighting towards the financial services segment.

Legal 500 | Tax, Tier 4, South Africa, 2020

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29/06/2021
Your small busi­ness is doomed to fail without prop­er tax com­pli­ance
Start­ing a busi­ness can be a daunt­ing task for any­one, es­pe­cially first time own­ers. For the youth month and Mi­cro-, Small and Me­di­um-sized En­ter­prises Day, we'd like to put to­geth­er an art­icle for young...
23/04/2021
Al­co­hol in­dustry to ap­ply for ex­cise tax pay­ment de­fer­ment
Al­co­hol in­dustry to ap­ply for ex­cise tax pay­ment de­fer­ment­Sars has been reas­on­able, talk­ing to the in­dustry, un­der­stand­ing their needs and chal­lenges, says Bern­ard Mo­fokeng from CMS RM Part­ners.By Nom­pu...
23/04/2021
For­get tax hikes - hire the right people to im­prove col­lec­tions
SARS has been work­ing to im­prove its ef­fi­cien­cies in tax col­lec­tions.SARS needs to hire more people with the right skills to make tax col­lec­tions more ef­fi­cient, say in­dustry ex­perts.In­vest­ing more in...
20/04/2021
Gov­ern­ment in­vest­ig­at­ing wealth tax for South Africa – what to ex­pect
While no ‘solid­ar­ity tax’ was an­nounced by Fin­ance min­is­ter Tito Mboweni in his 2021 Budget Speech, Na­tion­al Treas­ury has in­dic­ated that it will as­sess the vi­ab­il­ity of a fu­ture wealth tax as it col­lects...
22/02/2021
Should I care about the changes to Ex­change Con­trol?
In­tro­duc­tion  In the 2020 budget speech, the South Afric­an gov­ern­ment an­nounced that the cur­rent ex­change con­trol re­gime would be re­placed by a new cap­it­al flow sys­tem. In what ap­peared to be fairly...
12/11/2020
Law and reg­u­la­tion of Cov­id-19 tax re­lief in South Africa
Value Ad­ded Tax Im­port of Cov­id-19 “es­sen­tial goods” are ex­emp­ted from VAT Cor­por­ate In­come Tax Small busi­ness will get re­lief on pro­vi­sion­al in­come tax pay­ments (i.e. a re­duc­tion of amounts due...
Comparable
03/08/2020
Cli­mate change tax­a­tion re­forms and in­cent­ives in South Africa
1. Has your coun­try rat­i­fied the Par­is Agree­ment? Yes, on 1 Novem­ber 2016. 2. Has your coun­try in­tro­duced en­vir­on­ment­al taxes?  Yes. 2.1 En­ergy taxes Elec­tric fil­a­ment lamps: Elec­tric fil­a­ment lamps...
30/07/2020
How to avoid pay­ing double tax on your off­shore in­vest­ments
Many South Afric­ans have ac­quired for­eign prop­erty, of­ten res­id­en­tial, either for in­vest­ment pur­poses or with the in­ten­tion of even­tu­ally re­lo­cat­ing to that for­eign coun­try, of­ten the United King­dom.A...
12/05/2020
Re­vital­ised Sars vi­tal in a time of ra­ging cor­rup­tion
It is that time of the year when the min­is­ter of fin­ance squeezes South Afric­an tax­pay­ers for more money in or­der to fin­ance the dif­fer­ent gov­ern­ment pro­grammes and try to bal­ance the na­tion­al budget...
12/05/2020
SA firms and SOEs need more than gov­ernance tick-boxes
Sug­ar pro­du­cer Tongaat Hu­lett is con­sid­er­ing wheth­er to sue sev­er­al seni­or ex­ec­ut­ives to re­cov­er bo­nuses and be­ne­fits they ac­crued while presid­ing over “un­desir­able ac­count­ing prac­tices” at the com­pany.If...
18/06/2020
Sec­tion 12J VCC We­bin­ar
Jaltech, a Ven­ture Cap­it­al Com­pany Ad­vis­ory Ser­vices, along with CMS South Africa, will be host­ing a Sec­tion 12J in­dustry-fo­cused we­bin­ar on Thursday, 18 June 2020.The we­bin­ar will com­prise of in­form­at­ive...
07/04/2020
Tax Con­nect Flash
23 March 2020 Emer­gency Act No. 2020-290 de­clared COV­ID-19 state of health emer­gency ap­plic­able over the next 2 months fol­low­ing en­force­ment (i.e. 24 March), sub­ject to ex­ten­sion or early ter­min­a­tion...