Section 64E(1) of the South African Income Tax Act, 1962 (the “Act”) provides that dividends tax must be levied at a rate of 20% of the amount of any dividend paid by any company, other than a headquarter company. In terms of section 64EA(a) of the Act, the beneficial owner of a cash dividend is liable for dividends tax in respect of that dividend. However, in terms of section 64F(1), a cash dividend is exempt from dividends tax in various instances ...
Attacks by the South African Revenue Service (“SARS”) on the transfer pricing practices of multinational enterprises (“MNEs”) are on the rise, leading to tax disputes with SARS over significant amounts of tax. MNEs operating in South Africa provide information to SARS in various forms such as annual Corporate Income Tax returns, Country-by-Country reports as well as the extensive Transfer Pricing documentation ...
The technology that forms the foundation for digital currencies like Bitcoin could be the technology that provides unprecedented security for and access to medical records. The Blockchain For years, online communities sought increased freedom and autonomy by shielding their economic activities from the government and corporate intermediaries ...
If your estate plan was put in place more than 3 years ago, the plan is likely designed to save estate taxes at the sacrifice of income tax benefits. Estate tax is no longer a concern for married couples owning less than $11 million of assets. We recommend reviewing your estate plan to confirm that it has the flexibility to adapt to tax law changes and to secure income tax benefits ...
Earlier this year, and the last time before next year’s parliamentary elections, the current Luxembourg Finance Minister presented the budget law for 2018 to the Parliament (Chambre des Députés) ...
As seen in NonProfit Pro With the recent state of natural disasters devastating communities both in the U.S. and abroad, many people turn to charities to see what they can do to help those affected by these tragic events. Over the past two decades, charitable giving has grown considerably in the U.S. The number of public charities is up almost 60 percent, from about 643,000 in 2000 to more than 1 million today, according to the National Center for Charitable Statistics ...
The autonomous vehicle industry is pressing forward, full speed ahead. The conveniences and efficiencies created by shifting to self-driving vehicles are expected to drive vast economic growth and generate widespread consumer demand. Given the potential benefits, it is no wonder that autonomous technologies are now being embraced by a variety of market players— ranging from small start-up tech companies to perennial automotive giants ...
It has been almost two years since Republic Act No. 10667, otherwise known as the Philippine Competition Act (the PCA), took effect on August 8, 2015 ...
The United Arab Emirates (UAE) Federal Tax Authority (FTA) has commenced accepting registrations for Value Added Tax (VAT) through its online portal ...
Central America is at an inflection point regarding acceptable compliance and conformity. Among all the anxiety and instability that change will bring, it is welcoming to see that separate disciplines are pushing towards similar objectives in Corporate Governance. A quick discussion on Director´s Responsibility provides a glimpse on how new Governance issues will reshape slanted interpretations of the law ...
With virtual currencies such as Bitcoin becoming ever more popular and accessible, it is important that South African taxpayers carefully consider the tax and exchange control uncertainties that accompany the incorporation of these relatively new systems into businesses and/or investment portfolios. We highlight below some of the tax and exchange control consequences arising from transactions involving Bitcoin ...
On 25 May 2018, a new set of privacy rules formed by the European Union (“EU”) will take effect. The General Data Protection Regulation (“GDPR”) seeks to replace the Data Protection Directive 95/46/EC. Organisations – including many African ones – will need to make changes to their oversight, technology, processes, and human resources to comply with the GDPR ...
The recent spat between Yoko Ono and a Polish drinks company highlights the importance of registering trade marks.What happened in this matter was that John Lennon’s widow, Yoko Ono, threatened a small Polish lemonade manufacturer with legal action. The issue? The product that the Polish company sells in a number of European countries is called John Lemon ...
South Africa’s Supreme Court of Appeal (“SCA”) has handed down an important trade mark judgment. The case of PepsiCo Inc v Atlantic Industries deals with the issues of distinctiveness and likelihood of confusion, with a special emphasis on sub-brands. There are a lot of important points in this short judgment, so I am going to quote liberally.The facts: PepsiCo applied to register the trade mark Pepsi Twist (with and without a device) for soft drinks ...
Dubai is the fastest growing healthcare market within the GCC and is becoming an increasingly attractive sector for investors. In this inBrief article we explain the key drivers behind this growth and set out the options available to investors wishing to enter the Dubai healthcare market ...
The issue of the jurisdiction of the South African Advertising Standards Authority (“ASA”) to determine matters involving individuals and companies that don’t belong to the body has now been resolved by an agreement that has been made an order of the Supreme Court of Appeal in the case of Advertising Standards Authority v Herbex (Pty) Ltd ...
There was a time when companies were sceptical about IP protection in China, with the general impression being that the law was heavily weighted in favour of local companies, some of whom seemed to make a habit of hijacking foreign brands. But things have changed considerably over the past few years, and a recent trade mark development should further persuade African businesses that their IP rights, and particularly their trade marks, will be properly protected in China ...
On September 21, 2017, the Securities and Exchange Commission (the “SEC”) issued new guidance on compliance with pay ratio disclosure requirements, including an SEC release (“Interpretative Release”), commentary from the SEC staff in question and answer format (“Q&A”) and updated Compliance and Disclosure Interpretations (“C&DIs”) ...
The UAE has issued substantive law on Value Added Tax (VAT) and Excise Tax. Federal decree law No.8 of 2017 deals with VAT. The imposition of VAT will commence in the UAE from 1 January 2018 at a rate of 5%. The VAT law provides a framework for implementation of VAT in the UAE ...
The Israeli Tax Authority ("ITA"), published a list of instances whereby transfer of funds, through banking corporations, to foreign residents will be exempt from tax withholding ...
Many of us are aware of the popular myth that ostriches believe burying their heads in the sand will make them invisible to predators. In other words, an “if I can’t see you, you can’t see me” approach. Even though scientists will tell you that this is not true, the approach seems to bear a resemblance to the online behaviour of some humans ...
As seen in IP Watchdog We’ve all seen a seemingly happy technology marriage end in acrimonious divorce. Often those things can be avoided by careful advance planning, and proper cultivation of the nascent and the resulting product, and a carefully articulated plan for alliance management ...
As seen in IPWatchdog If we are to encourage invention and promote investment in innovation and the formation of new enterprises, we must provide a system of laws that recognize intellectual property as having all the attributes of other forms of personal private property. On Licensing In his seminal work “On War”, Karl Von Clausewitz described war as merely the continuation of politics by other means ...
September 22, 2017 Dear Madam or Sir, We hereby inform you that recently Federal Law dated 01.07.2017 No. 155-FZ (“155-FZ”) and Federal Law dated 18.07.2017 No. 165-FZ (“165-FZ”) have been adopted and became effective, introducing significant amendments to Federal Law dated 29.04.2008 No ...
