Led by: Lesley Bosman, Head of Tax Technical, KPMG
1 August 2017
In the current economic cycle and recession, what should corporates be looking out for and thinking of in terms of their tax strategies? We can expect that less VAT and less corporate tax will be payable. We will also see more job losses and thus lower PAYE collections. Across all tax sectors one would expect a reduction in taxes payable, even in the area of customs as well as other indirect taxes (Securities Transfer Tax, Transfer Duty, etc.). As a result, CFOs can, amongst other things, expect more tax audits, more aggressive tax positions by SARS, more delays in refunds and stricter application of penalties.
During this webinar, you will learn how to prepare for the current recessionary cycle by learning how to:
- Undertake tax diagnostics and tax audit readiness assessments
- Make use of pre-emptive measures such as using the advance tax ruling mechanism, non-binding private opinions and the voluntary disclosure programme
- Establish a tax policy framework
- Introduce a tax risk management plan that could include areas such reviewing tax processes, a tax compliance review process, tax representation at audit committee, the appropriate make up of an internal tax function, use of external tax consultants, outsourcing of the tax function and the use of technology to aid tax management.
- Look at the make-up of current group structures and how to consolidate groups and reduce costs, utilising corporate relief provisions
- Take advantage of tax savings opportunities such as VAT contingency reviews, capital allowance reviews, use of incentives and government grants, special economic zones, employment tax incentives and learnership allowances
- Proactively manage dispute resolution matters to achieve the best outcome
- Establish relationships with SARS relationship managers to facilitate query resolution and hold ups on refunds, etc.
- Implement tax insurance policies for large tax risk.
Lesley Bosman, Head of Tax Technical, KPMG
Lesley has been with KPMG Corporate Tax since 2003. Prior to joining KPMG, Lesley worked as Legal Advisor for Old Mutual Life Assurance Company. Lesley has consulted on a wide range of corporate tax issues including mergers and acquisitions and complex group restructures. In her role as Head of Tax Technical, Lesley deals extensively with National Treasury and SARS with regards to new legislation and is Vice Chair of the SAIT Corporate Tax sub-committee. Lesley attended the University of the Witwatersrand where she completed her B.Comm (Majors in Law and Insurance & Risk Management) and LLB. She then went on to complete her H-Dip Tax.