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Disposals by share incentive trusts
  • Cliffe Dekker Hofmeyr
  • South Africa
  • August 1 2014

The applicant was a share incentive trust established by a local company for the benefit of its employees in senior management. It was proposed that


Voluntary disclosure of undeclared foreign assets in offshore trusts
  • ENSafrica
  • South Africa
  • November 17 2016

In the context of trusts situated in foreign participating jurisdictions, the Common Reporting Standards (“CRS”) require The Trustees to identify the


Deferring tax by using unit trusts
  • Cliffe Dekker Hofmeyr
  • South Africa
  • October 21 2016

Investors in shares can defer capital gains tax using unit trusts. Section 42 of the Income Tax Act (581962) allows a taxpayer to transfer listed


Foreign Account Tax Compliance Act (FATCA) practical implications for South African entities
  • Cliffe Dekker Hofmeyr
  • South Africa
  • May 14 2014

FATCA was enacted in 2010 by the United States (US) to improve tax compliance with regard to offshore accounts of US citizens. Generally speaking


The current status of the Exchange Control Voluntary Disclosure Programme
  • Hogan Lovells
  • South Africa
  • November 8 2016

The Minister of Finance announced the proposed joint tax and exchange control Special Voluntary Disclosure Programme (the SVDP) during his February


Renewed focus on high net worth individuals: the Krok judgment
  • ENSafrica
  • South Africa
  • February 27 2014

High net worth individuals and their associated trusts have in the past been identified by the South African Revenue Service ("SARS") as posing a


Tax consequences of waiver of contractual rights
  • Cliffe Dekker Hofmeyr
  • South Africa
  • May 12 2017

Capital gains tax (CGT) is levied on the disposal of an asset. The terms "disposal" and "asset" are defined widely in the Eighth Schedule to the


The Davis Tax Committee's Second Interim Report on Estate Duty
  • Shepstone & Wylie Attorneys
  • South Africa
  • October 19 2016

The Davis Tax Committee released its final interim report on estate duty on 24 August 2016. Many of the recommendations affect the existing tax


Amnesty then and now
  • Cliffe Dekker Hofmeyr
  • South Africa
  • April 21 2017

On 15 May 2003, then Minister of Finance, Trevor Manuel, announced the introduction of a joint tax and exchange control amnesty. He punted the amnesty


The future taxation of trusts
  • ENSafrica
  • South Africa
  • June 26 2013

In the National Budget, tabled in Parliament on 27th February 2013, the Minister of Finance indicated that government was proposing several