Africa
DeVere expands fintech offering with investment app
Clients will be able to buy structured notes, ETFs and mutual funds via an execution-only investment app launched by deVere Group on Wednesday.
First million tax free, concedes South Africa
Plans to scrap a tax exemption on overseas earnings have been watered down by the South African Treasury and a tax-free allowance of ZAR1m (£57,143, $76,003, €63,904) introduced instead following pressure from expats and interest groups.
Issuing tax laws by press release perilous for South Africa
Introducing tax legislation by press release and putting changes into place with immediate effect puts South African taxpayers in an “impossible position”, a tax expert has warned.
S African expats must assess tax liability before September
In the furore over the removal of the tax exemption on foreign earnings, it has become clear that many South African expats are not fully aware of their existing tax obligations on offshore savings and investments and time is running out, warns Old Mutual Wealth’s David Denton.
S Africa inks key legislation to overhaul financial regulation
After nearly two years’ delay, South African president Jacob Zuma finally signed the Financial Sector Regulation Act (2017) into law on Monday, which established two new financial regulators.