Wally Horak advises on a wide spectrum of tax law, including international tax, with special emphasis on cross-border mergers and acquisitions, financing, transfer pricing, exchange control and expatriate secondments; local corporate tax, including advising on the tax efficient structuring of mergers and acquisitions, the structuring of private equity funds, tax efficient financing structures, tax efficient share schemes, etc.

Furthermore, Wally advises on the tax and exchange control implications of investing in or trading with other African countries, in close co-operation with Bowmans’ offices across Africa.

Relevant Experience

• Advice to OMSFIN re the tax treatment of preference share funding
• Advice to Coronation on tax dispute
• Advice to African Rainbow Capital re tax implications of share scheme and preference share funding arrangements
• Advice to AREP on tax implications of funding arrangements
• Advice to Orion on tax implications of funding arrangements with South African mines
• Advising venture capital funds on tax implications of Naspers/Prosus share restructure
• Advice to Sanlam on tax implications of cross border transactions
• Advice to Ethos on the tax implications of fund structures
• Advice to the Jumo Group on tax implications of mobile banking operations in various African countries
• Advising Broadreach on tax implications of operations in various African countries

Awards

• Chambers and Partners consistently ranked Wally in Band 1 for Tax for the past seven consecutive years (2015 to 2021).
• Ranked by Legal 500 as a Leading Individual for Tax for five consecutive years (2017 to 2021) and prior to that in Tier 1 for the same category in 2015.
• Wally was recognised by Who’s Who Legal 2018 in the following categories: Corporate Tax:  Advisory; Private Client:  Lawyers; and Corporate Tax: Controversy

Wally Horak provides a broad suite of tax services to clients, including structuring M&A transactions and investment funds, as well as providing guidance on regulatory issues. He continues to be widely regarded by peers as a leading practitioner. – Chambers and Partners, 2021

Described as a “legend” in the space, Wally Horak is a well-established attorney based in the firm’s Cape Town office. He advises on a wide array of tax matters, including M&A and restructuring. He is renowned for his knowledge of international taxation and is frequently involved in cross-border disputes. – Chambers and Partners 2020

Department co-head Wally Horak is “a name one often encounters in the market,” and interviewees are full of praise for him. He is known for his “strong practice, particularly in the cross-border space,” as well as his experience in the structuring of private equity funds. He advised DRA Group on its merger with Minnovo Group of Australia to form a common holding company that was subsequently listed on the JSE. – Chambers and Partners 2019

Department co-head Wally Horak is a well-known name in the tax sphere and is hailed by peers as “a strong lawyer,” with sources adding: “He knows his stuff.” He possesses a wealth of experience handling both international and domestic corporate tax matters, including cross-border M&A and the structuring of private equity funds. – Chambers and Partners 2018

Wally Horak maintains a strong reputation for his work in a diverse range of tax concerns, with notable strength in cross-border transactions and restructuring mandates. Market commentators recognise him to be an “outstanding” practitioner in this space.  – Chambers and Partners 2017

Wally Horak advises on a variety of tax matters, including transactions and financial restructuring. He is hailed for his ability to “unpick very sophisticated legislation into more understandable language.” – Chambers and Partners 2016

• South Africa: An overview of SARS’ Interpretation Note 127
• (Over)taxing loop structures in South Africa
• Amending preference share terms without triggering tax
• South Africa – Unilateral measure considered to tax digital economy
• Update on grandfathering problems for venture capital companies
• Update on the application of the most favoured nation clause in the South Africa and Netherlands tax treaty
• Tax Court upholds most favoured nation clause in South Africa and Netherlands tax treaty
• The impact of changes to the permanent establishment principle
• Budget 2018: Important proposed changes for businesses
• South African National Budget Speech 2018
• Getting the Deal Through – Private Equity 2014
• Transfer pricing audits put the squeeze on in Africa
• Transfer pricing a critical issue for African tax administrations
• South Africa as a base for expansion into Africa?