SA unveils new wealth tax to address ‘rampant inequality’

SA unveils new wealth tax to address ‘rampant...

A committee set up to review South Africa's tax system has revealed plans to introduce a new wealth tax as the country struggles to deal with extreme income inequality coupled with a dwindling tax base.

Published : 28, Apr 2017
Five tips to consider when using an overseas pension

Five tips to consider when using an overseas pension...Lock icon

Given the recent dramatic changes to rules governing overseas pension transfers, Martin Hall, the director of Isle of Man-based pension provider Optimus, gives his tips on what to consider when using an international pension scheme.

Published : 28, Apr 2017
DeVere denies ‘unfounded claims’ it uses prohibited funds in SA

DeVere denies ‘unfounded claims’ it uses prohibited...Lock icon

International advisory firm deVere has denied claims that it has been investing its South African clients’ money in offshore funds which have not been approved by the country’s regulator, blaming the “unfounded allegations” on a disgruntled former employee.

Published : 20, Apr 2017
DeVere accused of using unlicensed funds in South Africa

DeVere accused of using unlicensed funds in South...

International advisory firm deVere has been accused of investing South African clients’ money in offshore funds which have not been approved by the country’s financial services regulator, according to a report by news feed Moneyweb.

Published : 19, Apr 2017
European Wealth expands to South Africa

European Wealth expands to South Africa

European Wealth has opened an office in Johannesburg, South Africa, following its recent acquisition of a client bank from Towry Asset Management.

Published : 18, Apr 2017
Hong Kong signs data-sharing deal with South Africa and Portugal

Hong Kong signs data-sharing deal with South Africa...

Hong Kong has agreed to an automatic exchange of information with South Africa and Portugal amid mounting pressure from the OECD and the European Union.

Published : 7, Apr 2017
Two charged in fake death scam to claim life insurance

Two charged in fake death scam to claim life insurance...Lock icon

A woman and her son have been charged with fraud by UK police for conspiring to fake the mother’s death in Zanzibar in an attempt to claim £140,000 ($174,387, € 163,557) in life insurance.

Published : 5, Apr 2017
SA expats in UAE could use tax treaty to avoid new income levy

SA expats in UAE could use tax treaty to avoid...Lock icon

South African expats working in the Emirates could be exempt from a new tax on their foreign income under the terms of a recently-signed double tax treaty between South Africa and the United Arab Emirates (UAE).

Published : 4, Apr 2017
SA finance minister’s sacking will not halt expat tax plans

SA finance minister’s sacking will not halt expat...Lock icon

The sacking of South Africa’s finance minister will not stop legislation to tax some expats on their foreign income from being introduced, the founder of the South African Expats Tax Petition Group has said.

Published : 3, Apr 2017
Best and worst countries for expats

Best and worst countries for expats

With the clock now ticking on the UK’s departure from the European Union, some people are rethinking their living and employment situation. Click through the slides below to find the best and worst expat destinations, according to research firm InterNations.

Published : 29, Mar 2017
Petition against South African expat tax launched

Petition against South African expat tax launched...Lock icon

A petition against new legislation that would force South Africans working in countries with no income tax to pay tax in their home nation went live on Sunday.

Published : 27, Mar 2017
UK CISI advisers to visit South Africa on fact-finding mission

UK CISI advisers to visit South Africa on fact-finding...Lock icon

The Chartered Institute for Securities & Investment (CISI) is working with London-based firm Perceptive Planning to organise a fact-finding trip to South Africa in October.

Published : 24, Mar 2017
Sanlam acquires majority stake in PineBridge East Africa

Sanlam acquires majority stake in PineBridge East...

Sanlam Emerging Markets (SEM) has reached an agreement to acquire a majority stake in Kenya-based asset manager PineBridge Investments East Africa Limited (PIEAL).

Published : 22, Mar 2017
South African expats unite against proposed tax changes

South African expats unite against proposed tax...Lock icon

South Africans working in countries with no income tax, such as the UAE, have banded together on social media to oppose new legislation that “might put them at an unfair disadvantage” of having to pay income tax in South Africa.

Published : 20, Mar 2017
S Africa to end ‘too generous’ overseas worker tax break

S Africa to end ‘too generous’ overseas worker...

South Africa is to draft legislation overhauling its residence-based tax rules so that South Africans working in countries with no income tax, such as the UAE, will be liable to pay tax in their home country.

Published : 16, Mar 2017
Jersey agrees to return money laundering assets to Kenya

Jersey agrees to return money laundering assets...

Jersey chief minister Ian Gorst has signed an agreement to allow the return of over £3m ($3.65m, €3.46m) of stolen assets to Kenya.

Published : 8, Mar 2017
South Africa delays financial regulator overhaul

South Africa delays financial regulator overhaul...Lock icon

Changes that would have seen South Africa’s Financial Services Board (FSB) rebranded, handed a new mandate, and the introduction of a ‘Twin Peaks’ regulatory system have been postponed.

Published : 3, Mar 2017
South Africa budget targets high earners with top rate hike

South Africa budget targets high earners with...Lock icon

South Africa finance minister Pravin Gordhan has announced a new top tax bracket of 45% in his 2017 Budget.

Published : 24, Feb 2017
South Africa’s Lombard Life fined by regulator

South Africa’s Lombard Life fined by regulator...

The Financial Services Board (FBS) of South Africa has fined Lombard Life for not complying with rules about informing policyholders of their right to appeal after the company rejected their claims.

Published : 21, Feb 2017
Ex-boss of £6m S. African scam fund loses ban appeal

Ex-boss of £6m S. African scam fund loses ban...

South Africa’s financial services regulator has dismissed an appeal to overturn the ban of the former boss of collapsed asset manager Interneuron, which swindled investors out of R100m (£5.9m, $7.4m, €6.9m).

Published : 10, Feb 2017

Sponsored Content

Five UK tax changes postponed by the snap election
Five UK tax changes postponed...Lock icon

UK chancellor Philip Hammond has put on hold some significant...

UAE to push ahead with major life industry overhaul
UAE to push ahead with...Lock icon

The main regulator of life companies in the UAE has...

Qrops ‘fire sale’ averted as reforms survive Finance Bill cull
Qrops ‘fire sale’ averted...Lock icon

Reforms overhauling overseas pension transfers may...

UK delays non-dom and IHT reforms in shock election move
UK delays non-dom and...Lock icon

The UK government has delayed the introduction of long-awaited...

How the Qrops levy will impact UAE pension planning
How the Qrops levy will...Lock icon

Old Mutual Wealth’s David Denton talks about how the...

OTHER STORIES FROM LAST WORD...