The Werksmans Tax Practice is able to respond swiftly and efficiently to South African and international tax matters. Tax practice team members have many years’ experience in consulting to the commercial sector and are able to provide integrated advice and assistance on a wide range of local or international tax issues. Ongoing tax changes and the aggressive stance of the South African Revenue Service have elevated tax law in South Africa to a highly specialised area of practice.
The vast changes in tax law since 2001 have resulted in a sophisticated tax system, the complexity of which increases annually with comprehensive amendments. These cover multiple aspects such as ever-changing corporate restructuring rules, tax rules affecting financial instruments, rules affecting retirement and so on.
The tax practice team’s focus is on assisting corporates and high-net-worth individuals who seek comprehensive, up-to-date tax advice. Services range from consulting on the tax aspects of clients’ commercial dealings to interacting on their behalf with the tax authorities and, where necessary, dealing with objections and disputes. Team members are also skilled in handling settlement negotiations, appeals in the Tax Court and High Court, and alternative dispute resolution processes.
Special areas of expertise include the tax aspects of commercial activities such as mergers and acquisitions (M&A), private equity and black economic empowerment transactions, and corporate re-organisations.
In terms of international tax services, the team has a well established track record in inward and outward investment matters and offshore structuring, taking into account the exchange control implications thereof.
Tax Practice Services include dealing with:
- Domestic tax: income tax, withholding taxes, capital gains tax, employees’ tax, value-added tax and securities transfer tax
- International tax: inward and outward investment
- Estate planning: domestic and international
- Financial services and products: tax rules relating to insurance, private equity, securitisations, hedge funds, structured and project finance, debt and derivative instruments
- Tax structuring of black economic empowerment transactions, M&A, unbundlings, reconstructions, management buyouts, distributions, funding, securities issues and buybacks
- Exchange control advice in relation to the above
- Liaison and negotiation with tax authorities and regulators
- Tax litigation and dispute resolution: settlement negotiations, alternative dispute resolution, objections and Tax Court appeals
Contact Director Ernest Mazansky, Head of our Tax practice area.
Download our Tax practice area overview