Mining Charter III
INTRODUCTION Mining Charter III came into effect on 27 September 2018. It has been generally well received and, this time, is the product of substantial engagement between key stakeholders. Some of the concerning elements of the 2017 Charter have been removed. These include the requirement for existing rights to top up from 26% BEE ownership […]
Companies Amendment Bill
In the recent Companies Amendment Bill (Bill), several material changes to the Companies Act, 2008 (Act) were proposed. This circular discusses the key items. Submissions on the Bill will be accepted up until 20 November 2018 and we are available to make submissions on any aspect on your behalf. ACCESS TO INFORMATION Presently, members […]
VAT, Transfer Duty and Fixed Property
Value Added Tax is a tax on the value added by each Vendor in the production chain and is imposed each time a taxable supply of goods or services takes place. Each Vendor is required to account for the Vat on the value added by the Vendor. A Vendor is required to account for output […]
Business Ownership and Why Empowerment Transactions are Necessary
INTRODUCTION The implementation of black economic empowerment transactions in South Africa is becoming increasingly necessary for businesses to survive and the legal issues around these transactions are accordingly of considerable importance to many people. What follows is a summary of key features of the applicable legislation, the Broad Based Black Economic Empowerment Act 53 of […]
Occupancy certificates and leases
OCCUPANCY CERTIFICATES AND LEASES INTRODUCTION The National Building Regulations and Building Standards Act, 103 of 1997, makes provision for the issue of certificates of occupancy in relation to buildings. Once the erection of a building has been completed, the owner must apply to the local authority for the issue of a certificate […]
The Future of Labour Brokers: Con Court Finally Rules on 26 July 2018
The Future of Labour Brokers: Con Court Finally Rules on 26 July 2018 On 26 July 2018, the Constitutional Court handed down judgment in the matter between Assign Services (Pty) Limited v National Union of Metalworkers of South Africa and Others (Case number CCT 194/17). This judgment deals with the so-called “deeming provisions” contained in […]
Enforcement of Foreign Arbitration Award
INTRODUCTION In June last year the Johannesburg High Court handed down a judgment relating to an application by a foreigner for the enforcement of a foreign arbitration award granted against a foreign defendant. In other words, all parties concerned were foreigners or in legal terminology peregrini. The case involved a company registered in the United […]
Reporting On Bee Transactions
On 9 June 2017, the Department of Trade & Industry published a notice requiring all parties involved in major B-BBEE transactions to register the transaction with the B-BBEE Commission within 15 days of concluding the transaction. In addition, major B-BBEE transactions concluded between 24 October 2014 and 8 June 2017 must be registered within 60 […]
2017 Mining Charter
In April 2016, the Minister of Mineral Resources (the Minister) published the draft Reviewed Broad Based Black Economic Empowerment Charter (the 2016 Mining Charter) for public comment. The 2016 Mining Charter led to an industry wide outcry as it was produced without consultation. The Minister then undertook to consult with role players in the formulation […]
Submission On Possible Wealth Taxes For South Africa
The Davis Tax Committee (DTC) in its first interim report on estate duty recommended that it would not be advantageous to impose an annual wealth tax or similar form of taxation. It is unfortunate that the former Minister of Finance did not accept that recommendation and instead requested the DTC to reconsider the matter. That […]