The approach of the judiciary to tax motivated transactions in South Africa and the United Kingdom
Date
2008-05-05T08:42:01Z
Authors
Louw, Michelle
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Abstract
Abstract
In his Budget Speech on 28 February 2005, Trevor Manuel expressed his concern
regarding the application of section 103 of the Income Tax Act no 58 of 1962 by the
Courts and suggested that a revamped section 103 may be necessary.
The formulation of an adequate anti-avoidance section has also presented a
challenge to Revenue authorities elsewhere in the world. This report takes an indepth
look at case law in the British courts to determine how the United Kingdom has
dealt with the issue of anti avoidance. Secondly, the report deals with the approach
of the South African courts and discusses the requirements of section 103(1) of the
Act by looking at case law pertinent to each requirement. Thirdly the report
investigates South African case law where the doctrine of substance over form has
been dealt with. Finally, the report briefly compares the approaches adopted by the
British judiciary and the South African judiciary.
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Keywords
tax avoidance South Africa, tax avoidance United Kingdom