Managers of Wealth Africa

Tax evasion: Lagos begins sealing of firms

Many companies operate in the state without remitting tax to the state government.

Tanzania extends its e-tax system to cut fraud

One of the most significant measures taken in this battle with tax evasion has been the announcement that the nation’s e-tax system will now apply to all government departments and bodies.

South Africa Issues Tax Amnesty Guide

Relief is available in respect of all taxes administered by SARS.

Government notifies revised tax treaty with Mauritius

India and Mauritius signed had signed the revised Double Taxation Avoidance Convention after prolonged negotiations at Port Louis.

South African Tax Advisers Get No Protection for Reporting on Wealthy

The rules are intended to provide the window of opportunity to come clean ahead of 2017.

Formal emigration back on cards for lump sum withdrawals

National Treasury says it has come to government’s attention that scrapping the requirement that an individual must formally emigrate from South Africa

The Panama papers and the new scramble for Africa

The scramble for Africa was once defined by men with guns forcibly taking what they wanted.

Ecobank Group records 38% profit decline in H1

Our diversified business model, a source of competitive strength, and strategy positively contributed to underlying results.

New leak reveals Africa’s ‘big men’ aren’t who you think they are

The Panama Papers are at it again.

Panama Papers Reveal Wide Use of Shell Companies by African Officials

The Panama Papers project, organized by the international journalists’ consortium, has involved more than 400 reporters around the world and has set off criminal investigations in many countries.

South Africans with foreign assets must come clean - soon

The magnitude of the problem is evident in OECD research that conservatively estimates that between 4% and 10% of global corporate income tax revenues

Shah Rukh Khan gets income tax notice; asked to detail offshore investments

The notice was reportedly sent under the I-T Act's Section 131, which pertains to the powers of the I-T Department regarding investigation of individuals.

SA revises its special voluntary disclosure plan

The Treasury said instead of calculating two amounts non-compliant taxpayers now only needed to determine one amount.

Taxation Laws Amendment Bill released for comment by Bernard du Plessis and Peter Dachs

The Taxation Laws Amendment Bill 2016 has been released for public comment. It introduces various interesting amendments to South Africa’s tax law, which include the following:

Africa tax in brief by Celia Becker

KENYA: Budget and Finance Bill 2016

New ITR14 requires country-by-country reporting in company tax returns by Lavina Daya and Scott Salusbury

In October 2015, the Organisation for Economic Cooperation and Development (“OECD”) published its final reports on the Base Erosion and Profit Shifting (“BEPS”) project, including the final report on BEPS Action 13, Transfer Pricin

Venture capital companies – summary of the latest tax rulings by Mansoor Parker and Anuschka Wischnewski

The venture capital company (“VCC”) regime was introduced in 2009, with an aim to encourage investors, by way of substantial tax benefits, to invest in small South African trading companies.

Amnesty on offshore wealth not a trap, KRA insists

There have been mixed reactions to the taxation measure, however, with fears from some quarters the government is likely to pursue how the declared wealth was acquired or created.

Pravin Gordhan’s 10-point solution to tax evasion

Governments should put in place laws to deal with corruption, money laundering and tax crimes.

Investing into India: Mauritius and beyond - Withers

This is a major development impacting both Mauritian and Singapore investment structures which currently contribute around 50% of the foreign direct investment into India.