Managers of Wealth Africa

How South African HNW tax unit will impact financial advice

A wealth tax was widely rumoured, but will a taskforce targeting the rich achieve the same goal?

Tax, costs ‘bigger threat to businesses than Covid-19’

“Businesses were also concerned about the effects of the third wave of the Covid-19 pandemic, particularly the success or otherwise of the vaccine rollout and the general decreased economic activity due to the pandemic.”

Bond, tax payments drain market liquidity

The rate at which banks lend to each other on emergency basis is a good indicator of liquidity levels in the money market, going up when liquidity tightens and falling when the market is flush with shillings.

A new dispensation and a potential retirement fund tax bomb for emigrants from South Africa

All new emigration applications from 1 March onwards will be processed by the South African Revenue Service (SARS) in terms of a new procedure which will focus on the cessation of tax residence by a South African resident.

Tax evaders should consider if evasion is still worth the risk

The growing chances of being caught point to Sars getting ever more sophisticated with masses of data and global co-operation

Treasury pledges to IMF Covid cash audit release

This was amid coronavirus-induced contraction in economic activities.

Survey: 47% of Financial Services’ Organisations Do Not Have Tax Policy

The majority of organisations surveyed, especially in the banking sector, either had a fully-fledged tax function

April tax deadlines you need to know about

SARS said that the payroll data is of vital importance, as it gives a reconciled account of what amounts of tax the employer deducted from the taxable remuneration of each of its employees.

Taxes: Govt gains more from public quotation

Extant rules at the stock market require quoted companies to submit their audited report and accounts not later than 90 days after the end of the relevant business year.

A new dispensation and a potential retirement fund tax bomb for emigrants from South Africa

The wording of the proposal is unclear and no definitive date for implementation of the proposal is provided.

South Africa High Court rules on its power to review tax authority actions

The dispute arose from SARS’ allegation that the taxpayers were part of an impermissible tax avoidance arrangement to evade tax liability.

Illicit financial flows and tax havens are sabotaging countries’ development goals

Among the biggest constraints for countries striving to achieve the SDGs is the lack of financial resources.

Tax exemptions on capital gains now permanent

The renewals were to ensure that the gains made by investors in listed companies were not taxed.

South Africa’s highest tax rate vs the UK, Dubai, Hong Kong and New York

The most relaxed region, Dubai, allows high-income earners to keep all their pay – while Italy ended up taking the biggest slice at 49%.

Tax hikes make rate-hold necessary

SOME experts have expressed confidence that the Bank of Ghana (BoG) will leave its benchmark rate, the policy rate, unchanged tomorrow (Monday) to help dampen the inflationary pressures that the new tax policies portend.

Ghana cannot compete effectively with the introduction of new taxes – John Awuah

The C.E.O emphasized that he finds it worrying to witness the action the government has taken against the banking sector because they, as an institution are equally struggling.

Battle to Overcome Illicit Financial Flows

The magnitude of the resources the world stands to gain by creating financial integrity for sustainable development is enormous.

Bankers protest 5% tax on gross profits

He contended that the tax was ill-timed, wrongly intentioned and targeted, saying that if implemented, it would make the local banking sector the most taxed in West Africa.

Seek public buy-in for the State wealth tax proposal

Given that the country’s tax collection deficit stood at Sh109.9 billion in the first six months of the fiscal year, ramping up collections from this group would go a long way in plugging this gap.

Treasury plans wealth tax to fix July budget

The push to make wealthy individuals pay higher tax rates gained momentum in 2018 but the idea was ultimately dropped.