South Africa Updates Tax Return for Companies including Additional Info on Donations, VC Investments and Transfer Pricing

The South African Revenue service has published an update on changes to the Income Tax Return for Companies (ITR14) that apply from 18 April 2016. In particular, the following changes apply:

• The separate disclosure of donations, with allowable donations limited to 10% of taxable income and the remaining balance carried over to the next year of assessment;
• The addition of details of investments in venture capital companies; and
• The expansion of information required on transfer pricing related…