Investec Life launches in South Africa
Investec has added life insurance to its banking and investment services offering in South Africa.
South Africa
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Analysis: South Africa’s commission conundrum continues
Upfront commission remains a burning issue in South Africa, as the nation’s financial advice sector awaits the regulator’s next move following the signing of the ‘Twin Peaks’ legislation into law.
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Momentum Wealth Intl expands fund range
Fund managers Fidelity, Gam, Henderson, JP Morgan, Morgan Stanley and Schroder have been added to Momentum Wealth International’s Select Fund Range.
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South Africa Best Practice Adviser Award winners revealed
The winners in South Africa for International Adviser’s Best Practice Adviser Awards 2017 series were revealed on 5 October at the Vineyard Hotel in Cape Town.
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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.
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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.
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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.
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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.
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South African tax amnesty on undeclared offshore assets flops
Just a few hundred South African taxpayers have taken advantage of the country’s special voluntary disclosure programme (SVDP) which is due to end on the 31 August.
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Repealing South African expat tax not ‘crazy’ says tax chief
A plan to scrap an exemption on taxing foreign employment income is not a “crazy proposal” when compared with other jurisdictions, the head of tax and financial sector policy at South Africa’s National Treasury has said.
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Clock ticking for South African tax amnesty
Taxpayers in South Africa have less than a month to come clean and regularise any undisclosed or unauthorised foreign assets or income before the country’s Special Voluntary Disclosure Programme (SVDP) ends on 31 August.
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Liquidators label collapsed Louis Group ‘worthless’
Liquidators for collapsed Isle of Man-based property investment firm Louis Group have said that, following legal advice, they will not pursue claims against Louis Group IoM’s insurers, its parent company in South Africa or founder Alan Louis, reports local newspaper IOM Today.