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Tax, VAT, customs and trade alerts

We provide a wealth of publications by PwC South Africa providing informed commentary on current developments in the tax arena, both locally and internationally.

Through analysis and comment on new law and judicial decisions of interest, they assist business executives to identify developments and trends in tax law and revenue practice that might impact their business.

 
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In this alert:

Excon Alert - Exchange Control: Recent developments

During 2020, the National Treasury announced that South Africa’s Exchange Control regime would be replaced by a new Capital Flow Management system. This transition is intended to reduce ‘red tape’ in the case of legitimate financial flows and to introduce more robust measures to detect, deter and disrupt illegitimate cross-border financial flows. Since the announcement, the South African Reserve Bank (‘SARB’) has issued a number of Circulars that effect changes to the existing Exchange Control Regulations applicable to emigration and loop structures.

In this Alert, we explore some of the changes brought about by these Circulars.

 

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Excon Alert - Exchange Control: Recent developments

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Sonja  Nel

Sonja Nel

Associate Director, PwC South Africa

Tel: +27 (0) 11 797 4207

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