Kuwait and South Africa have signed an amending protocol to the Kuwaiti DTA on 1 April 2021. Once the amending protocol comes into effect, dividends declared by a South African company to a Dutch or Swedish Qualifying Shareholder will no longer qualify for the 0% withholding rate, but will be subject to dividends tax at the rate of 5%.
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On 21 July 2020 the Minister of Employment and Labour tabled the Employment Equity Amendment Bill (B14-2020) (Bill) at the National Assembly (NA). The Bill proposes a number of changes to the Employment Equity Act, 1998, as amended (Act). Notably, the Bill contemplates that the Minister would have the power to determine sectoral numerical targets.
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Ezra Davids and Ryan Kitcat contributed the South African chapter of The Shareholder Rights and Activism Review – Edition 5.
Continue readingIn his February 2020 budget speech, the Minister of Finance announced structural reforms to the existing exchange control regime in an effort to relax it. One of the items to be addressed was the rules relating to ‘loop structures’. This article provides more information.
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On 7 July 2020 the long-awaited Determination under section 34 of the Electricity Regulation Act was published for 2000MW of new generation capacity, by Minister Mantashe, Minister of Mineral Resources and Energy. This article provides more information on the published Determination.
Continue readingEzra Davids and Ryan Kitcat contributed the South African chapter of The Shareholder Rights and Activism Review – Edition 4.
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