by VDT Attorneys | Sep 3, 2024 | AML, Anti-money Laundering Amendment Act, Beneficial Ownership, Companies Act, Company, Trust
While proper administration of a trust has always been a duty of trustees, the manner in which the duty is discharged is now under scrutiny, particularly following the arrival of the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Act...
by VDT Attorneys | Apr 22, 2024 | AML, Beneficial Ownership, Reporting, SARS, Tax, Trust
The Amendment Act that came into effect on 1 April 2023 has introduced interesting changes relating to trusts in South Africa by amending amongst other things, the Trust Property Control Act (“Trust Act”), which now makes it a requirement for trusts to draw up a...
by VDT Attorneys | Jan 16, 2024 | AML, Annual Returns, Anti-money Laundering Amendment Act, Beneficial Ownership, Company, Trust
The Companies and Intellectual Property Commission (“CIPC”) has introduced its new system with changes for the filing of annual returns as of 11 December 2023. These new changes will join the filing of the Beneficial Ownership Declaration on the CIPC’s portal and the...
by VDT Attorneys | Nov 29, 2023 | Beneficial Ownership, SARS, Tax, Tax return, Trust disclosures
Filing tax returns for a trust is no longer as straightforward as it used to be. Earlier this year, the South African Revenue Services (“SARS”) issued a notice that new requirements have been introduced when filing tax returns for a trust. SARS now requires that the...
by VDT Attorneys | Nov 6, 2023 | Amendment Act, AML, Anti-money Laundering Amendment Act, Beneficial Ownership, Company, Trust
New electronic platform The result was the development and launch of a new electronic platform to address the concerns raised. However, the new electronic platform has also introduced additional requirements for Trustees and will now require Trustees to actively...
by VDT Attorneys | Nov 6, 2023 | AML, Anti-money Laundering Amendment Act, Beneficial Ownership, Corporate Trusteeship, Trust
South Africans have not been spared with loadshedding, escalating fuel prices and rising inflation further adding to the uncertainty. This makes it feel as if planning for the future is pointless and all you can really do is survive the now. In this article we discuss...
