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On 31 March 2020, the Financial Sector Conduct Authority issued FAIS Notice 17 of 2020 which provides an exemption from and extension of the period to comply with certain fit and proper requirements including in particular, continuous professional development requirements and regulatory examination requirements.
Policymakers’ intention to introduce a regulatory sandbox in South Africa could support the innovation that a rapidly evolving field such as fintech requires, however the concept is not without risks.
In essence, real estate investment trusts (REITs) are treated as conduits through which the income they derive, flows to their shareholders.
Paragraph 38 of the Eighth Schedule to the Income Tax Act, 1962 (Act) indicates that transactions between connected persons are deemed to take place at arm’s length. In other words, assets are disposed of at market value by the seller and deemed to have been acquired at market value by the purchaser.
While Greta Thunberg has caught the attention of many in recent times with her climate change activism, on the South African front, we saw some important developments regarding carbon tax in South Africa...