Securities lending arrangements

Overview of the (r)evolution of legislation governing the use of cannabis: Where to from here?

Cannabis has been a hot topic in the media and bold statements have been made by the Government regarding the economic potential that the cannabis sector can unlock in the country. President Cyril Ramaphosa has referred to the potential revenue that could be created in the sector on two separate occasions during his annual State of the Nation Address. It has also been highlighted that industrial hemp and cannabis will create a pathway to industrialisation by having a ripple effect through to various other sectors such as foreign investment, agriculture, employment and construction. Although the Government’s stated intention to relax and review policies that hinder the growth of the industry is appreciated, South Africa is at a crossroads when it comes to competing with international cannabis industries developed within a regulatory framework.

Carbon tax changes related to the renewable energy premium deduction and carbon offset allowance

Analysis of the Court of Appeal’s ruling regarding income tax waivers issued via Gazette Notices

On 17 February 2023, the High Court declared section 13(2) of the Income Tax Act (ITA), which grants the Cabinet Secretary power to exempt certain income from tax, to be unconstitutional. The section provides that the Minister may, by notice in the Kenya Gazette, exempt from tax any income or class of income which accrued in or was derived from Kenya. Our alert of 26 April 2023 accessible here [/en/news/publications/2023/Practice/Tax/tax-and-exchange-control-alert-26-High-Court-declares-the-power-to-issue-income-tax-exemptions-through-a-gazette-notice-unconstitutional.html#:~:text=The High Court on 17,from tax, to be unconstitutional] discusses the High Court’s judgment indetail. 

A sensible outcome: SARS’ ruling regarding special trusts

While the provisions in the Income Tax Act 58 of 1962 (ITA) that apply to ordinary trusts are often the subject of disputes in the Tax Court or of binding private rulings issued by the South African Revenue Service (SARS), the same cannot be said for special trusts. We briefly discussed the ITA’s dispensation applicable to special trusts in our Tax and Exchange Control Alert of 18 January 2019 and explained that it may apply in instances where a person is unable to look after their own affairs and where the special trust is then created for the benefit of such person.

From Crisis to Opportunity: Harnessing African Investment through Restructuring

Why employers should consider grievances provided by underperforming employees before termination

In today’s fast-paced and competitive world, employers are often faced with the challenge of managing employees who are not meeting their performance expectations. Poor performance constitutes one of the valid reasons for an employer to terminate the service of an underperforming employee.