- Title
- A discussion and comparison of company legislation and tax legislation in South Africa, in relation to amalgamations and mergers
- Creator
- Sloane, Justin
- Subject
- Corporation law -- South Africa
- Subject
- Taxation -- Law and legislation -- South Africa
- Subject
- Consolidation and merger of corporations -- South Africa
- Subject
- Income tax -- South Africa
- Subject
- Capital gains tax -- South Africa
- Subject
- Value-added tax -- South Africa
- Date
- 2014
- Type
- Thesis
- Type
- Masters
- Type
- MCom
- Identifier
- vital:908
- Identifier
- http://hdl.handle.net/10962/d1013028
- Description
- In his 2012 Budget Review, the Minister of Finance, Pravin Gordhan acknowledged that the introduction of the "new" Companies Act had given rise to certain anomalies in relation to tax and subsequently announced that the South African government would undertake to review the nature of company mergers, acquisitions and other restructurings with the view of possibly amending the Income Tax Act and/or the "new" Companies Act, to bring the two legislations in line with one another. These anomalies give rise to the present research. The literature reviewed in the present research revealed and identified the inconsistencies that exist between the "new" Companies Act, 71 of 2008 and the Income Tax Act, 58 of 1962, specifically the inconsistencies that exist in respect of the newly introduced amalgamation or merger provisions as set out in the "new" Companies Act. Moreover, this research was undertaken to identify the potential tax implications insofar as they relate to amalgamation transactions and, in particular, the potential tax implications where such transactions, because of the anomalies, fall outside the ambit section 44 of the Income Tax Act, which would in normal circumstances provide for tax "rollover relief". In this regard, the present research identified the possible income tax, capital gains tax, value-added tax, transfer duty tax and securities transfer tax affected by an amalgamation transaction, on the assumption that the "rollover relief" in section 44 of the Income Tax Act does not apply.
- Format
- 164 leaves, pdf
- Publisher
- Rhodes University, Faculty of Commerce, Accounting
- Language
- English
- Rights
- Sloane, Justin
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