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On 28 August 2023, the Minister of Trade, Industry, and Competition published proposed amendments (the Companies Amendment Bill and Companies Second Amendment Bill) to the Companies Act No. 71 of 2008. We have set out a summary of certain of these amendments, which, in our view, are noteworthy, as well as our views on these amendments.

In the case of Lance Dickson Construction CC v. Commissioner for the South African Revenue Service, the High Court had to determine whether the Tax Court’s confirmation of SARS’ decision to levy understatement penalties was correct. This article discusses the decisions made by the Tax Court and, subsequently, the High Court, which have important implications for taxpayers, SARS, the courts, and tax practitioners in South Africa.

Blockchain’s interface with traditional institutions and financial systems provides revenue authorities with a digital trail, and with the growing risk of tax evasion and fraud in crypto-investments, authorities are incentivized to pursue recalcitrant taxpayers. Aside from good governance considerations, the financial risks of tax non-compliance are high. This article looks at recent developments in tax regulations for cryptocurrency in South Africa.

The Broad-Based Black Economic Empowerment Act and its regulations govern the effective participation of black people in the South African economy. They aim to redress the historic economic inequalities as a result of apartheid, which excluded a large portion of the South African population, being black people, from the primary economy. The impact of apartheid was particularly damaging to the ability of black women to meaningfully participate in the economy.

South Africa’s employment laws are viewed as more rigid than those in various other developing markets, but they are also not as stringent as those in many other markets. In addition, the country’s labour dispute resolution landscape is considered to be more effective than those in many other developing markets. Elements of stricter labour laws are needed when considering the country’s history of inequality, warranting a heightened need for measures to protect employees’ rights.

South Africa’s trade relationship with China is growing, resulting in several announcements regarding trade at the BRICS Summit in August 2023. Among the announcements was the news that Chinese companies had signed deals to buy South African products worth around USD 2.2 billion. Also announced were plans for China to import more South African beef and other South African agricultural products, as well as the donation of Chinese energy equipment worth USD 8.9 million to South Africa, in addition to a grant valued at USD 26.9 million to assist the country with its energy crisis.