Section 23M has undergone significant changes in recent years since it was introduced into the Income Tax Act with effect from 1 January 2015.
The purpose of section 23M is to prevent base-erosion of the South African tax base caused by connected party borrowing by limiting excessive interest deductions in respect of debts owed to persons not subject to tax (in the hands of the creditor) in South Africa.
During this session we will unpack the current provisions of section 23M in a practical manner and provide an overview of the proposed changes to section 23M in terms of the Draft Taxation Laws Amendment Bill 2023 and the potential impact of these proposals for businesses.
The webinar will contribute to 3 hours CPD/CPE.
R1 207.50 (inclusive of VAT) / R1 050.00 (exclusive of VAT)