Martie Foster, Corporate Tax Consultant

Martie is a CA(SA) and specialises in corporate tax. Martie attended the Rand Afrikaans University where she obtained a B Comm (Accounting), B Comm (Hons) (Accounting with CTA) as well as an H Dip (Tax Law) qualification. She also obtained a Certificate in Financial Markets from the Academy of Financial Markets. 

Martie is an active member of The South African Institute of Chartered Accountants (SAICA) and currently serves on both the SAICA National Tax Committee as well as the SAICA Southern Region Tax Committee. She is also the moderator for tax of the CIS qualification examinations offered by the Institute of Chartered Secretaries and Administrators (ICSA) and is an external examiner for the Master of Commerce (Taxation) degree offered by the University of Cape Town (UCT). 

After completing her articles at Deloitte, she joined Middelburg Steel and Alloys (Pty) Ltd, now known as Columbus Stainless, where she held various positions including that of tax and treasury accountant. Some of the tax related projects she was involved in at that time included the change-over from the previous GST regime to the VAT regime as well as the preparation of the documentation and presentations made to the Government in terms of section 37E of the Income Tax Act, No 58 of 1962. 

She joined SABMiller in October 1993 where she held the position of tax manager. The role included evaluating transactions which could have an impact on the tax charge of the company, tax planning, tax strategy management, managing the effective tax rate, submission of all tax returns, consulting with SARS and consulting with the office of the Department of Finance with regards to excise matters. 

She then joined the tax consulting department of Ernst & Young in August 1999, where she held the position of senior manager, focusing on corporate tax. Here she focused on the financial services industry and application of the corporate rules. 

Martie joined Mallinicks in May 2005, which later merged with Webber Wentzel Bowes to form Webber Wentzel where she was an associate director in the Tax Consulting Practice Group of Webber Wentzel. 

Her corporate tax advisory experience is extensive and includes the following: 

  • Respond to queries raised by SARS during and following integrated tax audits of large corporates;
  • Attend to the objection to assessments raised by SARS in respect of employees’ tax, value-added tax and income tax issues. Employees’ tax issues included employee share schemes, long service awards, contactors, scholarships, company provided accommodation and retirement fund contributions. Value-added tax issues included issues related to exports and intercompany sales. Income tax issues include transfer pricing (intra-group cross-border loans), fraud losses, expenditure incurred related to fraud losses incurred, pre-publication of books expenditure. I also dealt with the interest, penalties and additional taxes levied by SARS in respect of these taxes;
  • Successfully attend to the appeal against disallowances of objections dealing with the issues noted above;
    Extensive restructure of local and international groups using the corporate rules;
  • Advice to South African entities regarding outbound investments, including exchange control issues associated with such investments;
  • Advice to foreign entities regarding inbound investments including exchange control issues associated with such investments;
  • Advice to South African entities providing long term contractual services in neighbouring and other countries;
  • Advice regarding tax treatment of various structured finance or financial services products being devised by Banks from the point of view of the bank and the investor and propose alternative structures where possible if there are adverse/unsatisfactory tax consequences;
  • Advice foreign financial services providers re tax consequences of products to be marketed and recommend changes where appropriate;
  • Various value-added tax issues related to issues such as cessions of debt;
  • Customs and excise dispute resolution regarding both imports and exports of goods;
  • Advice re appropriate structure of lease agreements including agreements which involve agricultural land;
  • Advice related to dividends and capital distributions, rights issues, capitalization share issues;
  • Advice regarding withholding tax and interaction with sections 6quat and 6quin;
  • International tax issues including application of section 9D (CFC’s) and double tax agreements;
  • Various secondary tax issues including assessments issued by SARS
  • Preparation for dividend tax and current issues regarding dividends paid since 1 April 2012;
  • Structure of sale and acquisition agreements – shares and businesses;
  • Successfully dealt with a number of private binding rulings as well as private class rulings;
  • Other matters included debt restructuring issues, review of off-shore structures, settlement/compromise negotiations with SARS re outstanding taxes.
  • Advice related to structure of group employee share schemes;