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National Treasury amended legislation governing share buy-backs and dividend stripping in 2017 and again in 2018. The specific anti-avoidance provisions can be found in s22B of the Income Tax Act, No 58 of 1962 (IT Act), which takes aim at shares held as trading stock, and paragraph 43A to the Eight Schedule to the IT Act, which applies if the shares are held on capital account.
National Treasury invites public comments on the draft Conduct of Financial Institutions (COFI) Bill 2018, which was published on 11 December 2018 together with an explanatory policy paper that sets out the policy rationale for the COFI Bill.