About This Webinar
Trading Stock Fundamentals
Section 22 of the Income Tax Act No.58 of 1962 specifically references IFRS in determining the cost of trading stock. However, on scrutiny, important differences emerge between the tax treatment of “trading stock” and accounting for “inventories”.
This webinar is designed to provide a fundamental understanding of the taxation provisions related to trading stock, focusing on adjustments to closing stock in the light of the recent SARS publication and case law, with a comparison to IAS2 Inventories.
Gain clarity on the tax treatment of trading stock, and differences between tax and accounting reporting.