September 18, 2017

THE FICA AMENDMENT ACT AND ITS AFFECT ON BUSINESSES:

The Financial Intelligence Centre Amendment Act 1 of 2017 (the FICA Amendment Act), was published in Government Gazette 40821 of 2 May 2017. This serves to […]
May 24, 2017

DISPOSING OF THE GREATER PART OF A COMPANY’S ASSETS OR UNDERTAKING

In terms of section 112(2) of the Companies Act, a company may not dispose of all or the greater part of its assets or undertaking (Disposal) […]
May 24, 2017

DEBT RELIEF FOR OVER-INDEBTED CONSUMERS

Borrowing money has become easy in today’s society. Many consumers are over-indebted in that they are unable to pay their financial obligations timeously. Many consumers over-commit […]
May 24, 2017

PRODUCT LIABILITY UNDER THE CONSUMER PROTECTION ACT

Section 61 of the Consumer Protection Act, 2008 (“CPA”) provides that producers, importers, distributors and/or retailers of goods (collectively the “Supplier(s)”) may be held liable for […]
May 24, 2017

VAT LIABILITY FOR NON-EXECUTIVE DIRECTORS

On 10 February 2017, South African Revenue Service (‘SARS’) passed a Binding General Ruling(VAT) 41 (‘BGR 41’) which deals with the VAT treatment of the activities […]
May 24, 2017

INCIDENTAL CREDIT AGREEMENTS: DEMYSTIFYING THE NATIONAL CREDIT ACT 34 OF 2005 (THE “NCA”)

The quagmire of the NCA The NCA was promulgated primarily with the intention of regulating the credit industry, as well as ensuring the protection of consumers […]
May 24, 2017

NEW DEVELOPMENTS ON REGISTERING AS A CREDIT PROVIDER

Currently, a credit provider providing credit in excess of R500,000 must be registered with the National Credit Regulator (“NCR”) in terms of the National Credit Act […]
May 24, 2017

FOREIGN COMPANIES ESTABLISHING A BRANCH OR SUBSIDIARY IN SOUTH AFRICA

The Companies Act, 2008 (“Companies Act”) defines a company that is incorporated outside of South Africa as a “foreign company”. Should such foreign company wish to […]
May 24, 2017

TAX LIABILITY OF AMERICAN MUSICIANS AND AGENTS DOING BUSINESS IN SOUTH AFRICA

South African retailers often use American musicians to endorse their brands on a number of advertising platforms in South Africa. Generally, South African retailers work through […]