The tax deductibility of interest on money borrowed to pay penalties imposed by the Competition Tribunal

Authors :

Emslie, C

Journal Title :

The Taxpayer

Citation :

(2010) 59 Taxpayer 110

S.A. Cases Cited :

Port Elizabeth Electric Tramway Co Ltd v Commissioner for Inland Revenue 1936 CPD 241

Competition Commission v Pioneer Foods (Pty) Ltd Case No 15/ CR/ Feb07 at 148

Commissioner South African Revenue Service v Scribante Construction (Pty) Ltd 2002 (4) SA 835 (SCA)

S.A. Legislation :

Competition Act 89 of 1998 s. 59(1)

Income Tax Act 58 of 1962 s. 1

Subject :

Income tax - Deductions - interest

Competition Commission

Sanctions, Administrative

Loans

Competition, Unfair - Taxation

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