About Muhammad Saloojee

Muhammad engaged extensively with KPMG’s tax leadership across the globe and worked very closely with KPMG’s Head of International Tax MESA (Philip Marwood) on various client and marketing initiatives, including presenting at KPMG’s MESA Tax Seminars. He helped establish KPMG Saudi’s “legal firm” through his experience with KPMG Legal in South Africa. Muhammad was Head of KPMG’s tax practice in Saudi under a 3 year global secondment. Key responsibilities included managing and growing tax practice on all fronts including head-count, revenue, profitability, market profile, client base, range of service offerings, etc.

Author Archive | Muhammad Saloojee

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Significant tax consequences on unrealised forex gains

As far back as 1999, SARS issued a practice note offering guidance on the treatment of gains and losses on foreign exchange transactions in terms of the specific tax legislation (Section 24I). The forward thinking rationale of the practice note at that time was such …

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