Section 12J Investments Are Maturing: What Now?
Many South African investors who participated in the Section 12J Venture Capital Company (VCC) regime are now reaching an important milestone: the maturity and exit phase of their investments. Although Section 12J was closed to new investments after 30 June 2021, the investment structures established under the regime continue to unwind as underlying assets are […]
20% of Nothing Is Still Nothing
Despite repeated warnings, Ponzi schemes continue to trap the unwary. Just pause to consider the following headline run in the venerable Financial Times in November 2020: “Investors lose £657 million to fraud.” That’s just in the 12 months to September 2020, up 28% from the year before. Even before the full impact of COVID-19 was […]
Cryptocurrency Trading in South Africa: Exchange Controls and Emerging Challenges
The untold story of Exchange Control Regulations. Cryptocurrency traders in South Africa have focused on understanding the tax implications of their transactions relative to the Income Tax Act. This has proved challenging, as SARS has merely stated that “the normal rules apply” without providing authoritative guidance concerning the various cryptocurrency-related transactions, and when profits are […]