MINING & MINERALS cliffedekkerhofmeyr.com

Size: px
Start display at page:

Download "MINING & MINERALS cliffedekkerhofmeyr.com"

Transcription

1 MINING & MINERALS

2 Cliffe Dekker Hofmeyr (CDH) is the mining legal partner for your business across Africa. We know that there s nothing simple about the mining industry. Labour disputes, regulatory uncertainty, changing policies and laws, and stringent environmental regulation all add up to one truth you need the right legal team working with you. A team with experience and insight not only in all aspects of law, but in the mining industry as a whole. A team like CDH. We have been key to some of the largest, most prominent resource industry matters and transactions in South and Sub-Saharan Africa including BEE deals, regulatory issues, mining M&A, mining sector restructurings and funding transactions. And we can help you too. MINING & MINERALS cliffedekkerhofmeyr.com

3 SECTOR OVERVIEW Participants in the mining industry face many complex challenges and the legal landscape is intricate and evolving. Our mining team understands the market and has a wealth of industry experience in all facets of this specialist sector, built over many years of in-depth involvement. WHO ARE WE? Our team is multi-disciplinary and includes a number of leading legal experts across a broad range of areas of speciality. Our immersive and longstanding association with the resources sector means we have sound, practical knowledge and are capable of offering a full range of services in a comprehensive and commercial way. Our lawyers are highly skilled and have extensive experience. We are a solution driven and dynamic team, and are well placed to offer relevant advice at a strategic level as well as on day-to-day legal issues. OUR EXPERIENCE We have long-standing relationships with a large number of key players in the South African industry and also act for many mid-tier and junior miners. We have been engaged by a number of foreign companies seeking to invest in South Africa s mining industry, including clients from Europe, North America, India, Russia and China. Our team has been involved in many of the largest and most prominent and complex resource industry transactions and matters in South and sub-saharan Africa, including recent headline landmark black economic empowerment (BEE) transactions. Whatever your needs in the sector, we have the technical expertise and provide a cohesive and integrated service based on excellence. GLOBAL CAPABILITY Mining is a global business. Commercial and financing transactions and disputes increasingly have an international dimension. As well as providing local and national support, we can support your business needs wherever in the world you do business. OUR MINING TEAM UNDERSTANDS THE MARKET AND HAS A WEALTH OF INDUSTRY EXPERIENCE IN ALL FACETS OF THIS SPECIALIST SECTOR cliffedekkerhofmeyr.com MINING & MINERALS

4 OUR FULL RANGE OF SERVICES Transactional Mergers, acquisitions and disposals, including cross-border transactions Joint ventures and partnerships Private equity Foreign direct investment Commercial Disputes Statutory claims arising from mining activities Dispute resolution Litigation and arbitration Regulatory appeals and objections Listings, IPOs, capital raises Corporate structuring and restructuring Due diligence investigations and risk identification Share incentive schemes Commercial Exploration and prospecting agreements Development agreements Royalty agreements Contractor agreements Off-take and supply agreements Services and management agreements Black Economic Empowerment Mining Charter BEE structuring and transactions Broad-based schemes and employee share ownership schemes BEE strategies Registration of empowerment trusts Community projects Health and Safety Legal compliance reviews Reporting safety incidents Statutory appointments Mine health and safety investigations, inquiries, compliance audits and legal proceedings Reviews and appeals in respect of closures Staff training and employee education Regulatory Mining title opinions Regulatory applications Advice on all aspects of the Mineral and Petroleum Resources Development Act and compliance therewith Section 11 applications for the transfer of mineral rights and/or shareholdings Section 102 applications for the amendment of mineral rights Employment All employment aspects of restructurings, mergers and acquisitions, redundancies and business transfers Litigation and dispute resolution, including private conciliation and arbitration Employee relations and strategic planning Training and development Restraint of trade Notarial executions and registration of rights MINING & MINERALS cliffedekkerhofmeyr.com

5 Environmental All aspects of environmental compliance Planning issues and environmental impact assessments Programme development Environmental litigation, appeals and objections Land use and heritage law Advising on financial provisions for rehabilitation Property Lease and land use agreements Liaising with communities and Department of Rural Development and Land Reform regarding community land Tax Corporate and mining taxation Structuring Exchange control Customs and excise Financing Acquisition finance Preference share funding Commodity and leveraged finance Listings, IPOs and capital raises Projects and Infrasructure Public Private Partnerships Joint ventures, pool and share agreements and PPPs Section 53 applications for approval to use the surface of land for projects Competition Preparing merger notification documents Merger investigation proceedings and representation at merger hearings Advice on all aspects of competition law Business Rescue, Restructuring and Insolvency Care and maintenance Financial corporate overexposure and managing restructuring debt Insurance Policy Risk management issues Business rescue Liquidation proceedings and sequestration cliffedekkerhofmeyr.com MINING & MINERALS

6 Cliffe Dekker Hofmeyr is very good technically and very helpful as well as knowledgeable. LEGAL 500 EMEA 2017 They handle precedent-setting and complex deals. CHAMBERS GLOBAL 2017

7 They have really very GOOD LAWYERS who are incredibly ACTIVE IN THE SPACE CHAMBERS GLOBAL 2017 cliffedekkerhofmeyr.com MINING & MINERALS

8 MARKET RECOGNITION Our Mining & Minerals team is externally praised for its depth of resources, capabilities and experience. Chambers Global ranked our Mining & Minerals sector in Band 2 for energy & natural resources: mining. Chambers Global ranked our Mining & Minerals sector in Band 3 for energy & natural resources: mining. The Legal 500 EMEA recommended us in Tier 2 for mining. IFLR ranked us in Tier 2 for mining. The way we support and interact with our clients attracts significant external recognition. Allan Reid is the Sector Head for the Mining & Minerals team. Chambers Global ranked him in Band 2 for energy & natural resources: mining. Chambers Global ranked Allan in Band 3 for energy & natural resources: mining. The Legal 500 EMEA recommended him for mining. Best Lawyers International listed Allan for mining law and in 2018 he was also listed for corporate law. Allan was identified as a leading lawyer by Who s Who Legal: Mining for Chambers Global ranked Sandra Gore in Band 3 for environment. The Legal 500 EMEA 2017 recommended her for mining. Who s Who Legal 2018 identified her as one of the world s leading environmental lawyers for Sandra was identified in The International Who s Who of Business Lawyers 2015, 2017 for environmental law. Emil Brincker is the National Practice Head of the Tax & Exchange Control team. Chambers Global has consistently ranked him in Band 1 for tax. The Legal 500 EMEA recommended Emil as a leading individual for tax. The Legal 500 EMEA 2016 recommended him for tax, and from , The Legal 500 EMEA recommended him as a leading individual for tax and named him Lawyer of the Year for tax. Best Lawyers International listed Emil for tax law and in 2017 listed him as Lawyer of the Year for tax law. IFLR recommended him for tax. Emil was identified as a leading lawyer by Who s Who Legal: Corporate Tax Advisory and Who s Who Legal: Corporate Tax Controversy for He was also identified in The International Who s Who of Corporate Tax Lawyers 2013 and The International Who s Who of Business Lawyers ILO Client Choice Awards named Emil as the exclusive winner of the corporate tax category in South Africa. The Tax s Handbook 2012 listed him among the top 250 lawyers in the world. Willem Jacobs is the National Practice Head of the team. Chambers Global ranked Willem in Band 2 for corporate/m&a. The Legal 500 EMEA recommended him as a leading individual for commercial, corporate/m&a. Willem was also recommended in for mining; as well as commercial, corporate and M&A. Best Lawyers International listed him for corporate law and mergers and acquisitions law. IFLR recommended Willem as a highly regarded lawyer for M&A and private equity. IFLR and 2017 recommended him as a leading lawyer in this area. Who s Who Legal identified Willem as a leading lawyer for M&A. He was identified as a leading lawyer by The International Who s Who of Mergers & Acquisitions Lawyers 2014 and was identified in The International Who s Who of Business Lawyers Chambers Global 2018 ranked Julian Jones in Band 3 for restructuring/insolvency. The Legal 500 EMEA recommended him for dispute resolution. Best Lawyers International listed Julian for insolvency and reorganisation law. Chambers Global 2018 ranked Fiona Leppan in Band 2 for employment. Chambers Global ranked her in Band 3 for employment. The Legal 500 EMEA recommended her for employment. Best Lawyers International 2018 listed Fiona for labour and employment law. IFLR recommended Fiona as a leading lawyer. Who s Who Legal identified her as a leading labour & employment practitioner. She was identified in The International Who s Who of Business Lawyers 2014, and in The International Who s Who of Management Labour and Employment Chambers Global ranked Mark Linington in Band 1 for tax: consultants. Chambers Global ranked Mark in Band 2 for tax: consultants. The Legal 500 EMEA 2013, recommended Mark for tax. The Legal 500 EMEA 2016 recommended him for commercial, corporate/m&a. Best Lawyers International listed him for tax law and in 2018 was also listed for mergers and acquisitions law. Mark was identified as a leading lawyer by Who s Who Legal: Corporate Tax Advisory for The Legal Experts EMEA 2012 listed him as an expert in his field. Mark was endorsed as a tax adviser by PLC Which Lawyer? The Legal 500 EMEA recommended Lilia Franca for commercial, corporate/m&a. The Legal 500 EMEA recommended Giada Masina for mining. The Legal 500 EMEA recommended Rishaban Moodley for dispute resolution. Best Lawyers International listed him for litigation and in 2018, he was also listed for arbitration and mediation. Rishaban was named as the exclusive South African winner of the ILO Client Choice Awards for litigation. Aadil Patel is the National Practice Head of the Employment team. Chambers Global ranked him in Band 2 for employment. The Legal 500 EMEA recommended him for employment. Best Lawyers International 2018 listed him for labour and employment law. He was named as the exclusive South African winner of the ILO Client Choice Awards 2014 in the employment & benefits category. Who s Who Legal identified Aadil as a leading labour & employment practitioner. He was identified in The International Who s Who of Business Lawyers 2014, and in The International Who s Who of Management Labour and Employment MINING & MINERALS cliffedekkerhofmeyr.com

9 MARKET RECOGNITION...continued The Legal 500 EMEA 2018 recommended Verushca Pillay for commercial, corporate/m&a. Best Lawyers International 2018 listed her for corporate law. IFLR recommended Verushca as a notable practitioner. The Legal 500 EMEA 2017 recommended Deepa Vallabh for mining. Best Lawyers International listed her for corporate law and mergers and acquisitions law. Deon Wilken is the National Practice Head of the Finance & Banking team. Chambers Global ranked him in Band 3 for banking & finance. The Legal 500 EMEA recommended him for banking and finance. Best Lawyers International listed him for banking law. IFLR recommended Deon as a highly regarded lawyer for capital markets: debt, energy and infrastructure and for project finance. IFLR and 2017 recommended him for capital markets: debt, energy and infrastructure and for project finance. Cliffe Dekker Hofmeyr BAND 1 Corporate/M&A Cliffe Dekker Hofmeyr BAND 2 Energy & Natural Resources: Mining EMEA Recommended us in TIER 1 Corporate/M&A FINANCIAL AND CORPORATE TOP TIER FIRM 2018 #No1DealPartner M&A DEAL FLOW 82 1 st 1 st YEARS GENERAL CORPORATE FINANCE DEAL FLOW 9 IN A ROW WON 6 OUT OF 7 YEARS IN 2017 DEALS 26 TRANSACTIONS BEE M&A DEAL FLOW & M&A DEAL VALUE $3,6 2 nd BILLION 5 DEALS 19.23% OF MARKET SHARE 2 nd M&A DEAL VALUE R119,576 BILLION 25,15% OF MARKET SHARE 1 st GENERAL CORPORATE FINANCE VALUE R279,460 BILLION IN nd M&A DEAL FLOW & M&A DEAL VALUE AFRICA EXCLUDING SOUTH AFRICA MINING & MINERALS cliffedekkerhofmeyr.com

10 OUR TEAM For more information about our Mining & Minerals sector and services, please contact: Allan Reid Sector Head T +27 (0) E allan.reid@cdhlegal.com Sandra Gore T +27 (0) E sandra.gore@cdhlegal.com Emil Brincker National Practice Head Tax & Exchange Control T +27 (0) E emil.brincker@cdhlegal.com Willem Jacobs National Practice Head T +27 (0) E willem.jacobs@cdhlegal.com Aadil Patel National Practice Head Employment T +27 (0) E aadil.patel@cdhlegal.com Deon Wilken National Practice Head Finance & Banking T +27 (0) E E deon.wilken@cdhlegal.com Julian Jones Sector Head Business Rescue & Insolvency : Dispute Resolution T +27 (0) E julian.jones@cdhlegal.com Mark Linington Sector Head Private Equity : Tax & Exchange Control T +27 (0) E mark.linington@cdhlegal.com Deepa Vallabh Head: Cross-border M&A, Africa and Asia T +27 (0) E deepa.vallabh@cdhlegal.com Mmatiki Aphiri T +27 (0) E mmatiki.aphiri@cdhlegal.com Jackwell Feris Dispute Resolution T +27 (0) E jackwell.feris@cdhlegal.com Lilia Franca T +27 (0) E lilia.franca@cdhlegal.com Giada Masina T +27 (0) E giada.masina@cdhlegal.com Fiona Leppan Employment T +27 (0) E fiona.leppan@cdhlegal.com Rishaban Moodley Dispute Resolution T +27 (0) E rishaban.moodley@cdhlegal.com Nonhla Mchunu T +27 (0) E nonhla.mchunu@cdhlegal.com Verushca Pillay T +27 (0) E verushca.pillay@cdhlegal.com Ziyaad Hassam Senior Associate T +27 (0) E ziyaad.hassam@cdhlegal.com Ben Cripps Associate T +27 (0) E ben.cripps@cdhlegal.com Valencia Govender Associate Environmental T +27 (0) E valencia.govender@cdhlegal.com Alecia Pienaar Associate T +27 (0) E alecia.pienaar@cdhlegal.com BBBEE STATUS: LEVEL TWO CONTRIBUTOR This information is published for general information purposes and is not intended to constitute legal advice. Specialist legal advice should always be sought in relation to any particular situation. Cliffe Dekker Hofmeyr will accept no responsibility for any actions taken or not taken on the basis of this publication. JOHANNESBURG 1 Protea Place, Sandton, Johannesburg, Private Bag X40, Benmore, 2010, South Africa. Dx 154 Randburg and Dx 42 Johannesburg. T +27 (0) F +27 (0) E jhb@cdhlegal.com CAPE TOWN 11 Buitengracht Street, Cape Town, PO Box 695, Cape Town, 8000, South Africa. Dx 5 Cape Town. T +27 (0) F +27 (0) E ctn@cdhlegal.com /AUG MINING & MINERALS cliffedekkerhofmeyr.com

MINING AND MINERALS ALERT

MINING AND MINERALS ALERT 20 JUNE 2017 MINING AND MINERALS ALERT IN THIS ISSUE INVESTOR SENTIMENT OF THE REVISED MINING CHARTER 2017 AT BREAKING-POINT The South African government faces a real risk of being challenged in court

More information

ALERT MINING & MINERALS ISSUE IN THIS

ALERT MINING & MINERALS ISSUE IN THIS MINING & MINERALS ALERT IN THIS ISSUE CRIPPLING 2015 MINING FINANCIAL PROVISION REGULATIONS Possible deadline extensions for likely rehabilitation liability increases and income tax penalties due to legislative

More information

MINING & MINERALS ISSUE IN THIS 30 OCTOBER 2018 MINING COMMUNITY CONSULTATION: WHO IS THE COMMUNITY?

MINING & MINERALS ISSUE IN THIS 30 OCTOBER 2018 MINING COMMUNITY CONSULTATION: WHO IS THE COMMUNITY? 30 OCTOBER 2018 MINING & MINERALS IN THIS ISSUE WHO IS THE COMMUNITY? How does the Constitutional Court s Judgment in Grace Masele (Mpane) Maledu and Others v Itereleng Bakgatla Mineral Resources (Proprietary)

More information

MINING AND MINERALS AND INTERNATIONAL ARBITRATION

MINING AND MINERALS AND INTERNATIONAL ARBITRATION 22 JUNE 2016 MINING AND MINERALS AND INTERNATIONAL ARBITRATION ALERT IN THIS ISSUE LOCAL CONTENT REQUIREMENTS IN THE EXTRACTIVE INDUSTRY: A DOUBLE-EDGED SWORD Balancing the need for regulation promoting

More information

BUSINESS RESCUE, RESTRUCTURING & INSOLVENCY

BUSINESS RESCUE, RESTRUCTURING & INSOLVENCY BUSINESS RESCUE, RESTRUCTURING & INSOLVENCY OVERVIEW The South African economy is ever-changing, and the need to adapt in response is essential to any thriving company. However, often businesses fall victim

More information

LEGAL PARTNER FOR YOUR FUND

LEGAL PARTNER FOR YOUR FUND PRIVATE EQUITY LEGAL PARTNER FOR YOUR FUND Cliffe Dekker Hofmeyr (CDH) is the legal partner for your fund across Africa. You need a team with experience and insight not only in all aspects of law, but

More information

CORPORATE INVESTIGATIONS

CORPORATE INVESTIGATIONS CORPORATE INVESTIGATIONS The last few years has seen a marked shift on the global battleground against corruption and economic crime. International bodies such as the World Bank, the Financial Action Task

More information

PRACTICE OVERVIEW ABOUT CLIFFE DEKKER HOFMEYR

PRACTICE OVERVIEW ABOUT CLIFFE DEKKER HOFMEYR DISPUTE RESOLUTION Clients value the firm s in-depth knowledge and experience of critical issues and praise the excellent quality of advice and tactical insight on offer. CHAMBERS GLOBAL 2018 PRACTICE

More information

CORPORATE & COMMERCIAL

CORPORATE & COMMERCIAL 21 NOVEMBER 2018 CORPORATE & COMMERCIAL IN THIS ISSUE DEAL OR NO DEAL? 9 QUESTIONS TO ASK WHEN In South Africa s highly regulated corporate environment, anyone wanting to implement a transaction will have

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 22 MARCH 2018 AN UPDATE: YOUR DEBTS.WRITTEN OFF?

ALERT DISPUTE RESOLUTION ISSUE IN THIS 22 MARCH 2018 AN UPDATE: YOUR DEBTS.WRITTEN OFF? 22 MARCH 2018 DISPUTE RESOLUTION ALERT IN THIS ISSUE AN UPDATE: YOUR DEBTS.WRITTEN OFF? Our previous article on the draft National Credit Amendment Bill, 2018 was published shortly before the scheduled

More information

EMPLOYMENT ISSUE IN THIS 5 DECEMBER 2018 INCREASED MINIMUM WAGE FOR DOMESTIC WORKERS

EMPLOYMENT ISSUE IN THIS 5 DECEMBER 2018 INCREASED MINIMUM WAGE FOR DOMESTIC WORKERS 5 DECEMBER 2018 EMPLOYMENT IN THIS ISSUE The minimum wage for domestic workers was increased from 3 December 2018. This is as a result of an amendment to the sectoral determination which establishes minimum

More information

EMPLOYMENT ISSUE IN THIS 4 JUNE 2018 DROP IN THE PRESCRIBED RATE OF INTEREST THE RIGHT TO A FAIR HEARING IS A TWO-WAY STREET

EMPLOYMENT ISSUE IN THIS 4 JUNE 2018 DROP IN THE PRESCRIBED RATE OF INTEREST THE RIGHT TO A FAIR HEARING IS A TWO-WAY STREET 4 JUNE 2018 EMPLOYMENT IN THIS ISSUE DROP IN THE PRESCRIBED RATE OF INTEREST The Prescribed Rate of Interest Act, No 55 of 1975 (PRIA) provides that if a debt bears interest, the prescribed rate of interest

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 17 NOVEMBER NO TRADE, NO DEDUCTION A JUDGMENT ABOUT SECTION 11(a) OF THE INCOME TAX ACT

ALERT EXCHANGE CONTROL ISSUE IN THIS 17 NOVEMBER NO TRADE, NO DEDUCTION A JUDGMENT ABOUT SECTION 11(a) OF THE INCOME TAX ACT 17 NOVEMBER 2017 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE NO TRADE, NO DEDUCTION A JUDGMENT On 20 April 2017, the Tax Court handed down its decision in X Group (Pty) Ltd v The Commissioner for the South

More information

CORPORATE & COMMERCIAL

CORPORATE & COMMERCIAL 10 OCTOBER 2018 CORPORATE & COMMERCIAL IN THIS ISSUE VENDOR FINANCIERS RISK RIGHT TO CLAIM PURCHASE PRICE IN THE EVENT OF A DEFAULT ON PAYMENT There are often instances where a person wishes to purchase

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 6 MAY 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE CLIFFE DEKKER HOFMEYR WELCOMES We are excited to have Petr Erasmus join our team as director in the Tax and Exchange Control practice. SUCCESSIVE

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 13 APRIL 2016

ALERT DISPUTE RESOLUTION ISSUE IN THIS 13 APRIL 2016 13 APRIL 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE HAS THE SUPREME COURT OF APPEAL RELAXED THE REQUIREMENTS IN RELATION TO DELIVERY OF A SECTION 129 NOTICE IN TERMS OF THE NATIONAL CREDIT ACT, NO 34

More information

The team is described as great to work with and as one that routinely produces work of the highest calibre.

The team is described as great to work with and as one that routinely produces work of the highest calibre. FINANCE & BANKING The team is described as great to work with and as one that routinely produces work of the highest calibre. CHAMBERS GLOBAL 2017 PRACTICE OVERVIEW Cliffe Dekker Hofmeyr s (CDH) Finance

More information

TAX & EXCHANGE CONTROL

TAX & EXCHANGE CONTROL 4 MAY 2018 TAX & EXCHANGE CONTROL IN THIS ISSUE STATUS OF SARS INTERPRETATION NOTES From time to time, the South African Revenue Service (SARS) issues interpretation notes. According to the SARS website

More information

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS SPECIAL EDITION: VAT AND NON-EXECUTIVE DIRECTORS 19 MAY 2017

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS SPECIAL EDITION: VAT AND NON-EXECUTIVE DIRECTORS 19 MAY 2017 19 MAY 2017 TAX AND EXCHANGE CONTROL ALERT SPECIAL EDITION: VAT AND NON-EXECUTIVE DIRECTORS IN THIS ISSUE VAT ON NON-EXECUTIVE DIRECTOR REMUNERATION: MORE QUESTIONS THAN ANSWERS? The South African Revenue

More information

DISPUTE RESOLUTION: CORPORATE INVESTIGATIONS AND EMPLOYMENT

DISPUTE RESOLUTION: CORPORATE INVESTIGATIONS AND EMPLOYMENT 16 AUGUST 2017 DISPUTE RESOLUTION: CORPORATE INVESTIGATIONS AND EMPLOYMENT ALERT IN THIS ISSUE WHAT DOES THE PROTECTED DISCLOSURES AMENDMENT ACT MEAN FOR WHISTLEBLOWERS AND EMPLOYERS ALIKE? On 31 July

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 1 MARCH 2017 BUSINESS RESCUE, RESTRUCTURING AND INSOLVENCY:

ALERT DISPUTE RESOLUTION ISSUE IN THIS 1 MARCH 2017 BUSINESS RESCUE, RESTRUCTURING AND INSOLVENCY: 1 MARCH 2017 DISPUTE RESOLUTION ALERT IN THIS ISSUE BUSINESS RESCUE, RESTRUCTURING AND INSOLVENCY: A COMPANY IN FINANCIAL DISTRESS PRESENTS ITS CREDITORS WITH A COMPROMISE PITFALLS CREDITORS SHOULD BE

More information

ALERT TAX ISSUE IN THIS 13 NOVEMBER 2015 OUR NEW TEAM MEMBERS TAX CONSEQUENCES OF A LIQUIDATION DISTRIBUTION FOLLOWED BY AN AMALGAMATION TRANSACTION

ALERT TAX ISSUE IN THIS 13 NOVEMBER 2015 OUR NEW TEAM MEMBERS TAX CONSEQUENCES OF A LIQUIDATION DISTRIBUTION FOLLOWED BY AN AMALGAMATION TRANSACTION 13 NOVEMBER 2015 TAX ALERT IN THIS ISSUE OUR NEW TEAM MEMBERS We are delighted to welcome Mark Linington and Dries Hoek to our Tax team. Mark and Dries have extensive tax advisory experience, focussed

More information

BLACK ECONOMIC EMPOWERMENT ALERT

BLACK ECONOMIC EMPOWERMENT ALERT 11 AUGUST 2016 BLACK ECONOMIC EMPOWERMENT ALERT IN THIS ISSUE RECENT CHANGES TO THE BEE LANDSCAPE: BBBEE ACT REGULATIONS TO THE BBBEE ACT BBBEE CODES BLACK INDUSTRIALIST POLICY DRAFT PPPFA REGULATIONS

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 23 FEBRUARY 2018 VAT RATE INCREASE: WHAT VAT RATE SHOULD BE CHARGED?

ALERT EXCHANGE CONTROL ISSUE IN THIS 23 FEBRUARY 2018 VAT RATE INCREASE: WHAT VAT RATE SHOULD BE CHARGED? 23 FEBRUARY 2018 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE VAT RATE INCREASE: WHAT VAT RATE SHOULD The Minister of Finance announced in his Budget Speech of 21 February 2018 that the standard rate of

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 26 OCTOBER 2018 GOOD NEWS FOR LENDERS? FURTHER PROPOSED AMENDMENTS TO THE DOUBTFUL DEBT PROVISIONS

ALERT EXCHANGE CONTROL ISSUE IN THIS 26 OCTOBER 2018 GOOD NEWS FOR LENDERS? FURTHER PROPOSED AMENDMENTS TO THE DOUBTFUL DEBT PROVISIONS 26 OCTOBER 2018 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE GOOD NEWS FOR LENDERS? FURTHER PROPOSED AMENDMENTS TO THE DOUBTFUL DEBT PROVISIONS On 17 October 2018, National Treasury (NT) and the South African

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 26 JANUARY 2018 DID THE PUNISHMENT FIT THE CRIME? THE TAX COURT REDUCES AN UNDERSTATEMENT PENALTY IMPOSED BY SARS

ALERT EXCHANGE CONTROL ISSUE IN THIS 26 JANUARY 2018 DID THE PUNISHMENT FIT THE CRIME? THE TAX COURT REDUCES AN UNDERSTATEMENT PENALTY IMPOSED BY SARS 26 JANUARY 2018 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE DID THE PUNISHMENT FIT THE CRIME? THE The imposition of understatement penalties in terms of Chapter 16 of the Tax Administration Act, No 28 of

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 3 FEBRUARY 2017 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE RULING ON UNITISED INCENTIVE SCHEME An employee incentive scheme that is commonly used works as follows: A company forms a trust. The company

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 8 FEBRUARY 2016 OVERVIEW OF THE DRAFT FRANCHISE INDUSTRY CODE PUBLISHED IN JANUARY 2016

ALERT DISPUTE RESOLUTION ISSUE IN THIS 8 FEBRUARY 2016 OVERVIEW OF THE DRAFT FRANCHISE INDUSTRY CODE PUBLISHED IN JANUARY 2016 8 FEBRUARY 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE OVERVIEW OF THE DRAFT FRANCHISE INDUSTRY CODE PUBLISHED IN JANUARY 2016 On 29 January 2016, the Commissioner of the Consumer Commission published

More information

ALERT TAX ISSUE IN THIS 23 OCTOBER 2015 CHANGES TO THE INCOME TAX RETURN FOR TRUSTS

ALERT TAX ISSUE IN THIS 23 OCTOBER 2015 CHANGES TO THE INCOME TAX RETURN FOR TRUSTS 23 OCTOBER 2015 TAX ALERT IN THIS ISSUE CHANGES TO THE INCOME TAX RETURN FOR TRUSTS The South African Revenue Service (SARS) has amended the ITR12T form, (i.e. the Income Tax Return for Trusts) with effect

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 21 JUNE 2017

ALERT DISPUTE RESOLUTION ISSUE IN THIS 21 JUNE 2017 21 JUNE 2017 DISPUTE RESOLUTION ALERT IN THIS ISSUE INTERNATIONAL ARBITRATION: BANKROLLING ARBITRATIONS SCOPE FOR THIRD PARTY FUNDING IN AFRICAN INTERNATIONAL ARBITRATIONS? Third party funding in international

More information

AFRICA PRACTICE. Abidjan, Cote d Ivoire

AFRICA PRACTICE. Abidjan, Cote d Ivoire AFRICA PRACTICE Abidjan, Cote d Ivoire THE IMPORTANCE OF AFRICA Doing business in Africa offers unique challenges and opportunities. With this comes a need to understand the cultural, economic and political

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 31 JANUARY 2018 INTERNATIONAL ARBITRATION: DAVOS 2018 DECONSTRUCTED: SOUTH AFRICA S SHARE IN A FRACTURED WORLD?

ALERT DISPUTE RESOLUTION ISSUE IN THIS 31 JANUARY 2018 INTERNATIONAL ARBITRATION: DAVOS 2018 DECONSTRUCTED: SOUTH AFRICA S SHARE IN A FRACTURED WORLD? 31 JANUARY 2018 DISPUTE RESOLUTION ALERT IN THIS ISSUE INTERNATIONAL ARBITRATION: DAVOS 2018 DECONSTRUCTED: SOUTH AFRICA S SHARE IN A FRACTURED WORLD? The theme for this year s World Economic Forum annual

More information

TAX & EXCHANGE CONTROL

TAX & EXCHANGE CONTROL 2 NOVEMBER 2018 TAX & EXCHANGE CONTROL IN THIS ISSUE In the wake of the ever-increasing world of e-commerce and cross-border digital trade, South Africa introduced legislation with effect from 1 June 2014,

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 3 JUNE 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE SARS RULES AGAIN ON THE CAPITALISATION OF LOAN ACCOUNTS The South African Revenue Service (SARS) has now issued a number of rulings on the matter

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 26 AUGUST 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE EMPOWERMENT: AN INTERESTING RULING In 2016, the BEE regulatory landscape has seen a number of changes introduced. These include the final regulations

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 24 NOVEMBER 2017 ANNOUNCEMENT OF FURTHER REVISIONS TO THE DEBT REDUCTION RULES IN THE INCOME TAX ACT

ALERT EXCHANGE CONTROL ISSUE IN THIS 24 NOVEMBER 2017 ANNOUNCEMENT OF FURTHER REVISIONS TO THE DEBT REDUCTION RULES IN THE INCOME TAX ACT 24 NOVEMBER 2017 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE ANNOUNCEMENT OF FURTHER REVISIONS TO THE DEBT REDUCTION RULES IN THE INCOME TAX ACT The current s19 and paragraph 12A of the Eighth Schedule

More information

ALERT TAX ISSUE IN THIS 4 SEPTEMBER 2015 VOLUNTARY DISCLOSURE RELIEF TO BE WIDENED DAVIS TAX COMMITTEE: FIRST INTERIM REPORT ON MINING

ALERT TAX ISSUE IN THIS 4 SEPTEMBER 2015 VOLUNTARY DISCLOSURE RELIEF TO BE WIDENED DAVIS TAX COMMITTEE: FIRST INTERIM REPORT ON MINING 4 SEPTEMBER 2015 TAX ALERT IN THIS ISSUE VOLUNTARY DISCLOSURE RELIEF TO BE WIDENED The Tax Administration Act, No 28 of 2011 (TAA) currently provides for various forms of relief in respect of disclosures

More information

ALERT REAL ESTATE ISSUE IN THIS 19 MARCH 2018

ALERT REAL ESTATE ISSUE IN THIS 19 MARCH 2018 19 MARCH 2018 REAL ESTATE ALERT IN THIS ISSUE PARLIAMENTARY PROCESS REGARDING THE PROPOSED EXPROPRIATION OF LAND WITHOUT COMPENSATION South Africans are closely monitoring the media to establish whether

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 28 OCTOBER 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE ARE WE SEEING MORE POSITIVE DEVELOPMENTS On 15 June 2016 the South African Revenue Services (SARS) released Binding Private Ruling 242 (Ruling),

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 13 NOVEMBER 2017 VAT RULINGS HOW AND WHEN TO APPLY CUSTOMS HIGHLIGHTS

ALERT EXCHANGE CONTROL ISSUE IN THIS 13 NOVEMBER 2017 VAT RULINGS HOW AND WHEN TO APPLY CUSTOMS HIGHLIGHTS 13 NOVEMBER 2017 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE VAT RULINGS HOW AND WHEN TO APPLY Human beings crave certainty even when it limits them. Robin S. Sharma. In practice, circumstances or proposed

More information

TAX & EXCHANGE CONTROL

TAX & EXCHANGE CONTROL 7 DECEMBER 2018 TAX & EXCHANGE CONTROL IN THIS ISSUE IN THE END, THERE CAN BE ONLY ONE On 3 December 2018, the Supreme Court of Appeal (SCA) handed down judgment in CSARS v Big G Restaurants (Pty) Ltd

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 26 OCTOBER 2016 CORPORATE INVESTIGATIONS: HAVE YOU NOTICED THE GLOBAL CHANGE IN COMBATING CORRUPTION?

ALERT DISPUTE RESOLUTION ISSUE IN THIS 26 OCTOBER 2016 CORPORATE INVESTIGATIONS: HAVE YOU NOTICED THE GLOBAL CHANGE IN COMBATING CORRUPTION? 26 OCTOBER 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE CORPORATE INVESTIGATIONS: Have you noticed the impact of recent changes on the global landscape and the effect thereof on the fight against corruption?

More information

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 4 MARCH 2016

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 4 MARCH 2016 4 MARCH 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE SARS LOOKS TO CLEAR UP MISCONCEPTIONS The South African Revenue Service (SARS) issued Draft Interpretation Note 16 (Issue 2) (Draft IN) for public

More information

ALERT TAX ISSUE IN THIS 20 NOVEMBER 2015 THE ONUS OF PROOF RULE FOR THE IMPOSITION OF UNDERSTATEMENT PENALTIES CARBON TAX IN SOUTH AFRICA

ALERT TAX ISSUE IN THIS 20 NOVEMBER 2015 THE ONUS OF PROOF RULE FOR THE IMPOSITION OF UNDERSTATEMENT PENALTIES CARBON TAX IN SOUTH AFRICA 20 NOVEMBER 2015 TAX ALERT IN THIS ISSUE THE ONUS OF PROOF RULE FOR THE IMPOSITION OF UNDERSTATEMENT PENALTIES As a basic principle, under s102(1) of the Tax Administration Act, No 28 of 2011 (TAA), the

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 17 FEBRUARY 2017 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE SOME CLARITY FROM SARS ON THE TAXATION OF NON-EXECUTIVE DIRECTORS The South African Revenue Service (SARS) recently issued two Binding General

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 24 JANUARY 2018 IS IT POSSIBLE THAT IN 2018 YOUR DEBTS MAY BE WRITTEN OFF? SURROGACY - TOO MUCH TO BEAR?

ALERT DISPUTE RESOLUTION ISSUE IN THIS 24 JANUARY 2018 IS IT POSSIBLE THAT IN 2018 YOUR DEBTS MAY BE WRITTEN OFF? SURROGACY - TOO MUCH TO BEAR? 24 JANUARY 2018 DISPUTE RESOLUTION ALERT IN THIS ISSUE IS IT POSSIBLE THAT IN 2018 YOUR DEBTS MAY BE WRITTEN OFF? On 24 November 2017, the Portfolio Committee on Trade and Industry published the draft

More information

ALERT TAX ISSUE IN THIS 6 NOVEMBER 2015 INTEREST FOR PURPOSES OF WITHHOLDING TAX ON INTEREST (WTI)

ALERT TAX ISSUE IN THIS 6 NOVEMBER 2015 INTEREST FOR PURPOSES OF WITHHOLDING TAX ON INTEREST (WTI) 6 NOVEMBER 2015 TAX ALERT IN THIS ISSUE INTEREST FOR PURPOSES OF WITHHOLDING TAX ON INTEREST (WTI) The Taxation Laws Amendment Bill 2015 (Bill) proposes the insertion of a definition for the term interest

More information

ALERT REAL ESTATE AND DISPUTE RESOLUTION ISSUE IN THIS 6 APRIL 2016

ALERT REAL ESTATE AND DISPUTE RESOLUTION ISSUE IN THIS 6 APRIL 2016 6 APRIL 2016 REAL ESTATE AND DISPUTE RESOLUTION ALERT IN THIS ISSUE CAN A MORTGAGE BOND SECURE A CLAIM FOR ENRICHMENT WHERE THE UNDERLYING LOAN AGREEMENT IS INVALID? The facts of the Panamo Properties

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 5 AUGUST 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE WILL TRUSTS STILL BE THE WAY TO GO? THE NEW SECTION 7C PROPOSED BY THE DRAFT TAXATION LAWS AMENDMENT BILL For a number of years, National Treasury

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 9 MARCH 2016 INTRICACIES OF CROSS BORDER INSOLVENCY AND ITS APPLICATION IN SOUTH AFRICAN COURTS

ALERT DISPUTE RESOLUTION ISSUE IN THIS 9 MARCH 2016 INTRICACIES OF CROSS BORDER INSOLVENCY AND ITS APPLICATION IN SOUTH AFRICAN COURTS 9 MARCH 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE INTRICACIES OF CROSS BORDER INSOLVENCY AND ITS APPLICATION IN SOUTH AFRICAN COURTS The Supreme Court of Appeal (SCA) in Lagoon Beach Hotel v Lehane (235/2015)

More information

TAX & EXCHANGE CONTROL

TAX & EXCHANGE CONTROL 8 JUNE 2018 TAX & EXCHANGE CONTROL IN THIS ISSUE ACCRUAL OF AMOUNT ON CESSION OF RIGHT TO DIVIDENDS Generally speaking, dividends paid by South African companies are exempt from income tax in the hands

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 7 SEPTEMBER 2016 COMMERCIAL: INTERNATIONAL ARBITRATION:

ALERT DISPUTE RESOLUTION ISSUE IN THIS 7 SEPTEMBER 2016 COMMERCIAL: INTERNATIONAL ARBITRATION: 7 SEPTEMBER 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE COMMERCIAL: DIRECTORS, BEWARE: COMMUNICATION AND The Constitutional Court s judgment in Makate v Vodacom (Pty) Ltd [2016] ZACC 13, has been the subject

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 1 JULY 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE BEWARE OF TAX ON DIVIDEND STRIPPING AND MANIPULATION OF DIVIDEND RIGHTS Dividends paid by local companies are generally exempt from income tax in

More information

ALERT TAX ISSUE IN THIS 29 JANUARY 2016 RULING ON THIRD-PARTY BACKED SHARES PRESERVATION ORDERS - THE COURT SETS A HIGH BAR FOR SARS

ALERT TAX ISSUE IN THIS 29 JANUARY 2016 RULING ON THIRD-PARTY BACKED SHARES PRESERVATION ORDERS - THE COURT SETS A HIGH BAR FOR SARS 29 JANUARY 2016 TAX ALERT IN THIS ISSUE RULING ON THIRD-PARTY BACKED SHARES Section 8EA of the Income Tax Act, No 58 of 1962 (Act) constitutes an anti-avoidance provision which, if applicable, has the

More information

ALERT FINANCE & BANKING ISSUE IN THIS 27 JUNE 2018

ALERT FINANCE & BANKING ISSUE IN THIS 27 JUNE 2018 27 JUNE 2018 FINANCE & BANKING ALERT IN THIS ISSUE THE TREATMENT OF FUTURE FINANCIAL COMMITMENTS UNDER THE PUBLIC FINANCE MANAGEMENT ACT: THE WAYMARK JUDGMENT The scope of a future financial commitment

More information

ALERT FINANCE & BANKING ISSUE IN THIS 15 JANUARY 2018 RECOVERING PRESCRIBED DEBTS - SECTION 126 OF THE NATIONAL CREDIT ACT

ALERT FINANCE & BANKING ISSUE IN THIS 15 JANUARY 2018 RECOVERING PRESCRIBED DEBTS - SECTION 126 OF THE NATIONAL CREDIT ACT 15 JANUARY 2018 FINANCE & BANKING ALERT IN THIS ISSUE RECOVERING PRESCRIBED DEBTS - The case of Kaknis v ABSA Bank Limited and Another 2017 (4) SA 17 dealt with the question as to whether s126b(1)(b) of

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 3 OCTOBER 2018 A TENDER TO PAY DOES NOT CONSTITUTE PERFORMANCE BUT...

ALERT DISPUTE RESOLUTION ISSUE IN THIS 3 OCTOBER 2018 A TENDER TO PAY DOES NOT CONSTITUTE PERFORMANCE BUT... 3 OCTOBER 2018 DISPUTE RESOLUTION ALERT IN THIS ISSUE A TENDER TO PAY DOES NOT CONSTITUTE PERFORMANCE BUT... In letters of demand, claimants normally call for specific performance failing which the agreement

More information

ALERT FINANCE AND BANKING ISSUE IN THIS 20 FEBRUARY 2017 NEW LIMITS FOR CREDIT LIFE INSURANCE PREMIUMS

ALERT FINANCE AND BANKING ISSUE IN THIS 20 FEBRUARY 2017 NEW LIMITS FOR CREDIT LIFE INSURANCE PREMIUMS 20 FEBRUARY 2017 FINANCE AND BANKING ALERT IN THIS ISSUE NEW LIMITS FOR CREDIT LIFE INSURANCE On 9 February 2017, the Minister of Trade and Industry published the final Credit Life Insurance Regulations

More information

FINANCE & BANKING ISSUE IN THIS 22 JANUARY 2019 UPDATE: NO MORE SILENT BIG SHORT POSITIONS

FINANCE & BANKING ISSUE IN THIS 22 JANUARY 2019 UPDATE: NO MORE SILENT BIG SHORT POSITIONS 22 JANUARY 2019 FINANCE & BANKING IN THIS ISSUE UPDATE: NO MORE SILENT BIG SHORT POSITIONS South Africa has, and continues to trail other countries in its regulation of short sales. However, late last

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 23 SEPTEMBER 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE FUNDING FOR SMALL AND MEDIUM-SIZED ENTERPRISES The Venture Capital Company (VCC) Tax Regime was introduced into the Income Tax Act 58 of 1962

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 16 MARCH 2018

ALERT EXCHANGE CONTROL ISSUE IN THIS 16 MARCH 2018 16 MARCH 2018 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE RECENT DEVELOPMENTS IN THE PBO ARENA - TAX COMPLIANCE IN THE RELIGIOUS SECTOR AND GENERAL TAX PROVISIONS APPLICABLE TO PBOS On 26 January 2018 the

More information

ALERT COMPETITION ISSUE IN THIS 30 MAY 2016

ALERT COMPETITION ISSUE IN THIS 30 MAY 2016 30 MAY 2016 COMPETITION ALERT IN THIS ISSUE RESTRAINTS OF TRADE IN SALE OF BUSINESS AGREEMENTS As a general rule, it is lawful for parties to enter into very limited restraints of trade or non-compete

More information

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 8 APRIL 2016

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 8 APRIL 2016 8 APRIL 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE THE KLUH-ED UP TAXPAYER WINS A DECISION ON SECTION 26 OF THE INCOME TAX ACT In its efforts to increase its income from tax revenue, the South African

More information

ALERT COMPETITION ISSUE IN THIS 5 MARCH 2018

ALERT COMPETITION ISSUE IN THIS 5 MARCH 2018 5 MARCH 2018 COMPETITION ALERT IN THIS ISSUE PRIOR IMPLEMENTATION OF TRANSACTION ATTRACTS R1,000,000 PENALTY On 21 February 2018, the Competition Tribunal (Tribunal) confirmed a consent agreement as agreed

More information

COMPETITION ISSUE IN THIS 8 OCTOBER 2018 THE COMPETITION LAW RISKS OF EARLY INTEGRATION PLANNING

COMPETITION ISSUE IN THIS 8 OCTOBER 2018 THE COMPETITION LAW RISKS OF EARLY INTEGRATION PLANNING 8 OCTOBER 2018 COMPETITION IN THIS ISSUE THE COMPETITION LAW RISKS OF EARLY In South Africa, merger implementation is prohibited until such time as competition approval is received. Between signing of

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 14 OCTOBER 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE TAXABLE BENEFITS PROVIDED TO EXPATRIATE The nature of the business of many multinational companies requires them to send their employees to

More information

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 8 SEPTEMBER 2017 THE BEPS EFFECT - HAS LORD TOMLIN S FAMOUS 1936 DICTUM BECOME OBSOLETE?

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 8 SEPTEMBER 2017 THE BEPS EFFECT - HAS LORD TOMLIN S FAMOUS 1936 DICTUM BECOME OBSOLETE? 8 SEPTEMBER 2017 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE THE BEPS EFFECT - HAS LORD TOMLIN S The last two centuries have seen courts handing down judgments wherein the House of Lords and/or the judiciary

More information

ALERT 30 MAY 2014 IN THIS ISSUE TAX

ALERT 30 MAY 2014 IN THIS ISSUE TAX ALERT 30 MAY 2014 IN THIS ISSUE TAX TAXATION OF HEDGE FUNDS TAXATION OF HEDGE FUNDS Following the release on 12 September 2012 of a proposed framework for the regulation of hedge funds, the National Treasury

More information

CONCERNS RAISED ON INTEREST DEDUCTION LIMITATION RULES

CONCERNS RAISED ON INTEREST DEDUCTION LIMITATION RULES ALERT 19 SEPTEMBER 2014 IN THIS ISSUE TAX CONCERNS RAISED ON INTEREST DEDUCTION LIMITATION RULES SALARY SACRIFICES CONCERNS RAISED ON INTEREST DEDUCTION LIMITATION RULES Interest deduction limitation provisions

More information

FROM POWERFUL PARTNERSHIPS COME POWERFUL SOLUTIONS. Budget Pocket Guide 2018/2019 TAX & EXCHANGE CONTROL

FROM POWERFUL PARTNERSHIPS COME POWERFUL SOLUTIONS. Budget Pocket Guide 2018/2019 TAX & EXCHANGE CONTROL FROM POWERFUL PARTNERSHIPS COME POWERFUL SOLUTIONS Budget Pocket Guide 2018/2019 TAX & EXCHANGE CONTROL CONTENTS 1 1 RATES OF TAXES, 3 USEFUL INFORMATION AT A GLANCE, 4 TRAVEL ALLOWANCE, 6 COMPANY CAR,

More information

Pinsent Masons in the UAE

Pinsent Masons in the UAE Pinsent Masons in the UAE Pinsent Masons In the UAE Introduction Our UAE office, based in the heart of Dubai s financial district, combines local knowledge with an international experience to advise clients

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 5 OCTOBER 2016 INSURANCE LAW: BUSINESS RESCUE, RESTRUCTURING AND INSOLVENCY: THE REAL HEAT OF VELDFIRES

ALERT DISPUTE RESOLUTION ISSUE IN THIS 5 OCTOBER 2016 INSURANCE LAW: BUSINESS RESCUE, RESTRUCTURING AND INSOLVENCY: THE REAL HEAT OF VELDFIRES 5 OCTOBER 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE INSURANCE LAW: THE REAL HEAT OF VELDFIRES South Africa has a rainfall climate of great variability. The SA Weather Service reports that between July

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 19 JANUARY 2018 RESIDENTIAL PROPERTY DEVELOPERS FACE CASH FLOW CRUNCH DUE TO VAT ON TEMPORARY LETTING OF UNITS

ALERT EXCHANGE CONTROL ISSUE IN THIS 19 JANUARY 2018 RESIDENTIAL PROPERTY DEVELOPERS FACE CASH FLOW CRUNCH DUE TO VAT ON TEMPORARY LETTING OF UNITS 19 JANUARY 2018 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE RESIDENTIAL PROPERTY DEVELOPERS FACE CASH FLOW CRUNCH DUE TO VAT ON TEMPORARY LETTING OF UNITS Many residential property developers will kick

More information

Contents. 04 Our Firm. 05 Our Footprint in Africa. 06 Our Tax Practice. 07 Our Specialist Services. 09 Our Signature Matters.

Contents. 04 Our Firm. 05 Our Footprint in Africa. 06 Our Tax Practice. 07 Our Specialist Services. 09 Our Signature Matters. TAX 2 Contents 04 Our Firm 05 Our Footprint in Africa 06 Our Practice 07 Our Specialist Services 09 Our Signature Matters 10 Accolades 12 Key Contacts 3 BOWMANS Our Firm Bowmans is a leading Pan-African

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 30 SEPTEMBER 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE DEFERRING TAX BY USING UNIT TRUSTS Investors in shares are able to defer capital gains tax (CGT) using unit trusts. The deferral works as

More information

ALERT 13 JUNE 2014 IN THIS ISSUE TAX INVITATION TO SEMINAR: TO PREF OR NOT TO PREF

ALERT 13 JUNE 2014 IN THIS ISSUE TAX INVITATION TO SEMINAR: TO PREF OR NOT TO PREF ALERT 13 JUNE 2014 IN THIS ISSUE TAX INVITATION TO SEMINAR: TO PREF OR NOT TO PREF INVITATION TO SEMINAR: TO PREF OR NOT TO PREF The tax consequences of preference shares have been the subject matter of

More information

ALERT 02 MAY 2014 IN THIS ISSUE TAX SUCCESSIVE CORPORATE

ALERT 02 MAY 2014 IN THIS ISSUE TAX SUCCESSIVE CORPORATE ALERT 02 MAY 2014 IN THIS ISSUE TAX SUCCESSIVE CORPORATE REORGANISATION TRANSACTIONS SUCCESSIVE CORPORATE REORGANISATION TRANSACTIONS A number of advance tax rulings have recently been released by the

More information

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS

ALERT TAX AND EXCHANGE CONTROL ISSUE IN THIS 20 JULY 2017 TAX AND EXCHANGE CONTROL ALERT SPECIAL EDITION: Our experts views on the 2017 Draft Taxation Laws Amendment Bill and the 2017 Draft Tax Administration Laws Amendment Bill Yesterday National

More information

ALERT EXCHANGE CONTROL ISSUE IN THIS 23 MARCH 2018 DOMESTIC TREASURY MANAGEMENT COMPANIES

ALERT EXCHANGE CONTROL ISSUE IN THIS 23 MARCH 2018 DOMESTIC TREASURY MANAGEMENT COMPANIES 23 MARCH 2018 TAX & EXCHANGE CONTROL ALERT IN THIS ISSUE DOMESTIC TREASURY MANAGEMENT COMPANIES In 2013, the South African government introduced the domestic treasury management company (DTMC) regime to

More information

ALERT DISPUTE RESOLUTION ISSUE IN THIS 27 JULY 2016 ADMINISTRATIVE AND PUBLIC LAW: CORPORATE INVESTIGATIONS:

ALERT DISPUTE RESOLUTION ISSUE IN THIS 27 JULY 2016 ADMINISTRATIVE AND PUBLIC LAW: CORPORATE INVESTIGATIONS: 27 JULY 2016 DISPUTE RESOLUTION ALERT IN THIS ISSUE ADMINISTRATIVE AND PUBLIC LAW: COURTS ORDER ERRANT STATE OFFICIALS TO PAY LEGAL COSTS OUT OF THEIR OWN POCKETS CORPORATE INVESTIGATIONS: 1 DISPUTE RESOLUTION

More information

ALERT TRUSTS AND ESTATES ISSUE IN THIS 20 JULY 2016

ALERT TRUSTS AND ESTATES ISSUE IN THIS 20 JULY 2016 20 JULY 2016 TRUSTS AND ESTATES ALERT IN THIS ISSUE THE FATE OF INTEREST FREE LOANS? The draft Taxation Law Amendment Bill became available to the public for comment on 8 July 2016. The Amendment Bill

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 19 AUGUST 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE VALUE-ADDED TAX ON THE SUPPLY OF STUDENT ACCOMMODATION For some time now there has been a shortage of accommodation for tertiary students in

More information

TAX & EXCHANGE CONTROL

TAX & EXCHANGE CONTROL 8 MARCH 2019 FOR MORE INSIGHT INTO OUR EXPERTISE AND SERVICES CLICK HERE TAX & EXCHANGE CONTROL IN THIS ISSUE A CREATURE OF STATUTE: A DECISION ABOUT THE TAX COURT S POWER TO INCREASE UNDERSTATEMENT PENALTIES

More information

ALERT COMPETITION ISSUE IN THIS 13 APRIL 2016 COMPETITION COMMISSION REJECTS EXEMPTION APPLICATIONS LITTLE PIG, LITTLE PIG, LET ME IN

ALERT COMPETITION ISSUE IN THIS 13 APRIL 2016 COMPETITION COMMISSION REJECTS EXEMPTION APPLICATIONS LITTLE PIG, LITTLE PIG, LET ME IN 13 APRIL 2016 COMPETITION ALERT IN THIS ISSUE COMPETITION COMMISSION REJECTS EXEMPTION APPLICATIONS LITTLE PIG, LITTLE PIG, LET ME IN COMPETITION AUTHORITIES SYMPATHISE WITH MERGING PARTIES ECONOMIC WOES

More information

TAX PRESERVATION ORDERS IN THIS ISSUE. ALERT l 17 OCTOBER 2014 PRESERVATION ORDERS SARS MUST CHOOSE ITS REMEDIES

TAX PRESERVATION ORDERS IN THIS ISSUE. ALERT l 17 OCTOBER 2014 PRESERVATION ORDERS SARS MUST CHOOSE ITS REMEDIES ALERT l 17 OCTOBER 2014 TAX IN THIS ISSUE PRESERVATION ORDERS SARS MUST CHOOSE ITS REMEDIES PRESERVATION ORDERS Judgment was recently handed down in the High Court (Western Cape Division) in the matter

More information

ALERT 25 JULY 2014 IN THIS ISSUE TAX CONTRIBUTED TAX CAPITAL IN A COMPANY CONTEXT

ALERT 25 JULY 2014 IN THIS ISSUE TAX CONTRIBUTED TAX CAPITAL IN A COMPANY CONTEXT ALERT 25 JULY 2014 IN THIS ISSUE TAX CONTRIBUTED TAX CAPITAL IN A COMPANY CONTEXT CONTRIBUTED TAX CAPITAL IN A COMPANY CONTEXT The creation of contributed tax capital (CTC) and the return thereof by a

More information

TAX ALERT REGISTRATION OF AN EXTERNAL COMPANY IN THIS ISSUE 25 MAY Registration of an external company. No more exit charge? EVERYTHING MATTERS

TAX ALERT REGISTRATION OF AN EXTERNAL COMPANY IN THIS ISSUE 25 MAY Registration of an external company. No more exit charge? EVERYTHING MATTERS 25 MAY 2012 TAX ALERT REGISTRATION OF AN EXTERNAL COMPANY Section 23 of the Companies Act, No 71 of 2008 (Act) that came into effect on 1 May 2011, deals with the issue where a foreign company is required

More information

Pinsent Masons in Spain

Pinsent Masons in Spain Pinsent Masons in Spain Pinsent Masons in Spain Pinsent Masons is a sector focussed global law firm. Our strategy is to invest in geographies that connect our clients to where they want to do business.

More information

TAX ALERT IN THIS ISSUE THE ANNOUNCEMENT OF THE VOLUNTARY DISCLOSURE PROGRAMME ANY QUESTIONS? COME DISCUSS THEM WITH SARS AT OUR OFFICES

TAX ALERT IN THIS ISSUE THE ANNOUNCEMENT OF THE VOLUNTARY DISCLOSURE PROGRAMME ANY QUESTIONS? COME DISCUSS THEM WITH SARS AT OUR OFFICES 3 SEPTEMBER 2010 TAX ALERT THE ANNOUNCEMENT OF THE VOLUNTARY DISCLOSURE PROGRAMME The Voluntary Disclosure Programme (VDP) has been formulised pursuant to the Voluntary Disclosure Programme and Taxation

More information

Seeing the world from your perspective

Seeing the world from your perspective Seeing the world from your perspective BIGGER PICTURE OFFSHORE LAW SPECIALISTS BRITISH VIRGIN ISLANDS CAYMAN ISLANDS GUERNSEY JERSEY CAPE TOWN HONG KONG LONDON SINGAPORE 1 / careyolsen.com Contents OUR

More information

ALERT 7 MARCH 2014 IN THIS ISSUE TAX VALUE SHIFTING ARRANGEMENTS STILL APPLICABLE TO COMPANIES AND TRIGGERING ADVERSE TAX IMPLICATIONS

ALERT 7 MARCH 2014 IN THIS ISSUE TAX VALUE SHIFTING ARRANGEMENTS STILL APPLICABLE TO COMPANIES AND TRIGGERING ADVERSE TAX IMPLICATIONS ALERT 7 MARCH 2014 IN THIS ISSUE TAX VALUE SHIFTING ARRANGEMENTS STILL APPLICABLE TO COMPANIES AND TRIGGERING ADVERSE TAX IMPLICATIONS VALUE SHIFTING ARRANGEMENTS STILL APPLICABLE TO COMPANIES AND TRIGGERING

More information

CORPORATE AND COMMERCIAL. 29 January 2014 IN THIS ISSUE

CORPORATE AND COMMERCIAL. 29 January 2014 IN THIS ISSUE CORPORATE AND COMMERCIAL alert 29 January 2014 New JSE rules on hybrid financial instruments With effect from 2 January 2014, a new s20 has been inserted in the Johannesburg Stock Exchange (JSE) Listings

More information

ALERT 20 JUNE 2014 IN THIS ISSUE TAX ADMINISTRATIVE FAIRNESS IN RAISING ASSESSMENTS AND DISPUTES BEFORE THE TAX COURT

ALERT 20 JUNE 2014 IN THIS ISSUE TAX ADMINISTRATIVE FAIRNESS IN RAISING ASSESSMENTS AND DISPUTES BEFORE THE TAX COURT ALERT 20 JUNE 2014 IN THIS ISSUE TAX SUPREME COURT OF APPEAL ADDRESSES ADMINISTRATIVE FAIRNESS IN RAISING ASSESSMENTS AND DISPUTES BEFORE THE TAX COURT SUPREME COURT OF APPEAL ADDRESSES ADMINISTRATIVE

More information

EMPLOYMENT MATTERS 14 APRIL 2014 IN THIS ISSUE SHOULD A CERTIFICATE OF OUTCOME BE REVIEWED?

EMPLOYMENT MATTERS 14 APRIL 2014 IN THIS ISSUE SHOULD A CERTIFICATE OF OUTCOME BE REVIEWED? MATTERS 14 APRIL 2014 EMPLOYMENT IN THIS ISSUE SHOULD A CERTIFICATE OF OUTCOME BE REVIEWED? SHOULD A CERTIFICATE OF OUTCOME BE REVIEWED? There have been a number of cases concerning the status of the certificate

More information

In April 2004 the partnership with Shepstone & Wylie was dissolved and the name reverted to Tomlinson Mnguni James.

In April 2004 the partnership with Shepstone & Wylie was dissolved and the name reverted to Tomlinson Mnguni James. Tomlinson Mnguni James (TMJ) clients enjoy access to a full range of skills and specialised legal expertise, thanks to a team of 41 multi-skilled attorneys, and a support team of over 80 staff. In today

More information

TAX AND EXCHANGE CONTROL ALERT

TAX AND EXCHANGE CONTROL ALERT 12 AUGUST 2016 TAX AND EXCHANGE CONTROL ALERT IN THIS ISSUE OFF DOWN THE RABBIT-HOLE IN PURSUIT OF THE OECD/G20 BEPS PROJECT DEVELOPMENTS IN A WORLD RUN MAD The European migrant crisis has reached catastrophic

More information

GOVERNANCE, COMPLIANCE AND INVESTIGATIONS

GOVERNANCE, COMPLIANCE AND INVESTIGATIONS GOVERNANCE, COMPLIANCE AND INVESTIGATIONS 2 Governance, Compliance and Investigations Contents 04 Our Firm 05 Our Footprint in Africa 06 Our Governance, Compliance and Investigations Practice 07 Our Specialist

More information

Consultant - Legal T F

Consultant - Legal T F Sergei Vataev Consultant - Legal Almaty Dechert Kazakhstan Limited, Dostyk Business Center, 43 Dostyk Avenue, Fourth Floor, Almaty 050010 T +7 727 258 2660 F +7 727 258 8084 sergei.vataev@dechert.com Practice

More information

TAX ALERT. We have launched a new Tax website. Click here to visit the site. IN THIS ISSUE FAR REACHING DECISION BY THE TAX COURT 5 AUGUST 2011

TAX ALERT. We have launched a new Tax website. Click here to visit the site. IN THIS ISSUE FAR REACHING DECISION BY THE TAX COURT 5 AUGUST 2011 5 AUGUST 2011 TAX ALERT FAR REACHING DECISION BY THE TAX COURT On 1 August 2011, the Johannesburg Tax Court (the Court) handed down a significant judgment that is yet to be reported and that specifically

More information

ANTIKA LAW FIRM. Traditions in law

ANTIKA LAW FIRM. Traditions in law ANTIKA LAW FIRM Traditions in law 12, Khreschatyk Str., 2 nd floor, Kyiv, 01001, Ukraine tel./fax.: +38 044 390 09 20/21 office@antikalaw.com.ua www.antikalaw.com.ua GENERAL INFORMATION Antika Law Firm

More information