Africa
S Africa to end ‘too generous’ overseas worker tax break
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.
Jersey agrees to return money laundering assets to Kenya
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.
South Africa delays financial regulator overhaul
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.
South Africa budget targets high earners with top rate hike
South Africa finance minister Pravin Gordhan has announced a new top tax bracket of 45% in his 2017 Budget.
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.