Financial Action Task Force’s Potential Greylisting of South Africa
On 1 October 2021, the Financial Action Task Force (FATF) published its Report on South African Anti-money Laundering and Counter Terrorist Financing Measures. FATF routinely conducts these evaluations to determine the extent of a country’s technical compliance with global anti-money laundering and …
SARS (somewhat) lifts prohibition on distributions from resident trusts to offshore trusts
SARS will now consider applications from South African-resident trusts for approval to distribute funds to non-resident trusts The South African Revenue Service (SARS) practice, until recently, has been to not approve any applications for the release of funds by resident trusts vesting and distribut…
South African Commercial Law Blog 