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KPMG has market-leading alliances with many of the world's leading software and services vendors.
View all AlliancesHelping clients meet their business challenges begins with an in-depth understanding of the industries in which they work. That’s why KPMG LLP established its industry-driven structure. In fact, KPMG LLP was the first of the Big Four firms to organize itself along the same industry lines as clients.
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Learn moreWhat is culture? Culture is how we do things around here. It is the combination of a predominant mindset, actions (both big and small) that we all commit to every day, and the underlying processes, programs and systems supporting how work gets done.
Learn moreConstitutional Court judgment
The Constitutional Court on October 2, 2024, held that the conduit principle, while relevant, does not apply when capital gains are realised by a trust. The provisions of the Income Tax Act (ITA) allow a trust that disposes of an asset to attribute any resultant capital gain to its beneficiary / beneficiaries. The trust was however not permitted to rely on the conduit principle to attribute the capital gain to its beneficiaries. Therefore, the trust was liable for the capital gains tax on gains realized from asset disposals.
The case is: The Thistle Trust v Commissioner for the South African Revenue Service [2024] ZACC 19. Read the judgment
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