August 2017

The Special Voluntary Disclosure Programme: Time is Running Out, and Automatic International Exchange of Tax Information is Kicking In

There has been widespread reporting that globally, revenue authorities are clamping down on tax havens. As from next month, tax authorities from over 50 countries (set to grow to over 100 by September 2018) will be automatically reporting to their counterpart tax offices on, amongst other things, bank accounts and investments held by their nationals.  …

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FICA: Will the Revised Act Still be a Four Letter Word?

The Financial Intelligence Centre Act (FICA) has been operating since 2001 but lately has been revised to bring it into line with global practices and to sharpen its focus of fighting money laundering and terrorism financing. So common has FICA become that people and banks now talk about “being FICA’d”. The outcomes of FICA before …

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