South Africa:
South Africa Tightens Up On Offshore Tax Evasion
25 October 2013
KPMG, South Africa
To print this article, all you need is to be registered or login on Mondaq.com.
In a statement issued on 12 October 2013, the South African
Ministry of Finance announced that South Africa will work closer
with the UK to tackle offshore tax evasion, and that South Africa
will join the pilot scheme for automatic exchange of tax
information launched by the UK, along with France, Germany, Italy
and Spain.
This initiative has received growing support worldwide,
demonstrating the growing number of jurisdictions committed to
quickly implementing the new standard in the automatic exchange of
tax information being developed by the OECD.
Greater automatic information exchange will provide a step
change in the Ministry of Finance's ability to expose
hidden assets and ensure the correct payment of tax.
Read the full statement by the Ministry of Finance at www.treasury.gov.za (PDF 32KB)
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Strategy from South Africa
The Future Of Business In Saudi Arabia
Highworth
Saudi Arabia's Vision 2030 serves as a cornerstone for the future of business in Saudi Arabia, aiming to diversify the economy beyond oil and to foster a vibrant, sustainable environment for both local and international businesses.
Why Ghana Is A Great Place To Start A Business
Firmus Advisory
Ghana is a great place to start a business. We will discuss some of the major benefits of starting a business in Ghana and why Ghana is a great place to do business among other African Countries.
Legal Modalities For Registration With NIPC
The Trusted Advisors
The Nigerian Investment Promotion Commission (NIPC) was established to encourage, promote and co-ordinate investment in the Nigerian economy, amongst others.