Synopsis

A monthly journal, published by PwC South Africa, that gives informed commentary on current developments in the tax arena, both locally and internationally.

Through analysis of and comment on new laws and judicial decisions of interest, Synopsis helps executives to identify developments and trends in tax law and revenue practice that may affect their business.

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In this edition:

Synopsis Tax today - June 2025

In our first article we discuss cryptocurrency and exchange control in South Africa, the Standard Bank case, regulatory gaps, and the road ahead. The Standard Bank case marks a pivotal moment in the evolving relationship between digital assets and financial regulation in South Africa. The case underscores the urgent need for South Africa’s Exchange Control Regulations to evolve in response to the challenges posed by digital assets.

In our second article we look at United States (US) tariff hikes that have shaken global trade dynamics, including those involving South Africa. The new tariffs are expected to reduce economic growth and destabilise South Africa’s economy. This would directly impact the South African revenue authority’s ability to meet its annual revenue collection targets, resulting in a budget shortfall which, in turn, would impact public service and potentially necessitate cuts or adjustments in public service budgets