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Never miss a beat on Africa's legal and regulatory landscape.

Fasken

SARS finally provides guidance on transfer pricing rules

Since the withdrawal of Practice Note 2, confusion has reigned as to the manner in which the SARS would apply the newly amended transfer pricing provisions in section 31 of the Income Tax Act, 58 of 1962 to intra-group loans. The only indication of the SARS view on ..

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ENSafrica

New year, new laws: South Africa amends its money laundering and counter-terrorist financing regime

On 22 and 23 December 2022, President Ramaphosa signed two key pieces of legislation into law – the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act, 2022 and the Protection of Constitutional Democracy Against Terrori..

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Webber Wentzel

SCA hands down important judgment for the mining industry

​​​​​​​​In a judgment handed down by the SCA on 18 November 2022, several key South African mining and mineral law principles were enforced. The SCA also emphasised points that a mining rights applicant should keep in mind.

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Bowmans

South Africa: Do not abuse process to silence critics

Civil society advocates, activists, and journalists play, among other things, a role in exposing or holding corporations accountable on matters of public interest. When confronted with negative publicity or scrutiny, well-resourced corporations have, on occasio..

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Werksmans Attorneys

Run Forest run! Considering the competition law implication of crypto currency and regulation one ought to say – Competition Commission start running!

The cryptocurrency sector is innovative and fast-moving. Cryptocurrency and crypt exchanges are attracting a lot of focus also as Crypto exchanges have achieved enormous success. But with success (and scale) comes competition law scrutiny, particularly in a sector where t..

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ENSafrica

New accountable institutions in terms of FICA

Amendments to the Financial Intelligence Centre Act, 2001(defining accountable institutions) were published on 29 November 2022. These will come into effect on 19 December 2022, ahead of the possible; of South Africa.

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Webber Wentzel

National Assembly passes a revised version of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill (Omnibus Bill)

On 22 November 2022, the National Assembly passed a revised version of the Omnibus Bill, which proposes to amend five pieces of legislation, including the Companies Act, 2008.

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Cliffe Dekker Hofmeyr

Drawing lines in the sand: The promulgation of new Preferential Procurement Regulations and what it means for organs of state and the public

On 4 November 2022, the Minister of Finance promulgated the Preferential Procurement Regulations, 2022 (2022 Regulations) in terms of the Preferential Procurement Policy Framework Act 5 of 2000 (PPPFA).

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Werksmans Attorneys

Tsunami of a Penalty as “Lucky Monopolist” gets Unlucky

In a rare display of its utmost displeasure, the Competition Tribunal this year imposed the maximum penalty for first time offenders of the Competition Act [1] on Tsutsumani Business Enterprise CC, being 10% of its to..

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