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FACING THE WRATH OF THE FINANCIAL INTELLIGENCE CENTRE – Experiencing a FIC audit is not for the faint hearted.
In November 2010, the Minister of Finance extended the definition of ACCOUNTABLE INSTITUTIONS who are subject to the Financial Intelligence Centre Act and the Risk Based anti-money laundering and terrorism financing (ML/TF) obligations. Experiencing a FIC audit is not...
Keeping track with the Information Regulator and the speed at which the POPIA Privacy rules are getting activated
Have you appointed your Information Officer yet? Has your organisation applied for Prior Authorisation to continue collecting and using clients’ data? Most businesses are aware of their obligation to develop and implement a POPIA Privacy Policy by no later than 1 July...
THE PROPERTY PRACTITIONERS ACT AND DISCLOSURE OF DEFECTS
The Property Practitioners Act was signed into law on 3 October 2019 and even though much speculation exists that the effective date would be set for 1 April 2021, there has been no confirmation in this regard. Because of the size and scope of the changes in the...
A REVIEW OF THE EAAB’S 2019/2020 ANNUAL REPORT
Having cognizance of the Government’s big drive to generally create economic opportunities as well as transforming certain sectors, including the property sector, understanding the EAAB’s 2019/2020 report gives some perspective with regards to the overall size of this...
Joint Property Ownership
JOINT PROPERTY OWNERSHIP There are many reasons why people decide to buy property together with someone else: because they are married or are dating or because they are not able to afford the property on their own. Most, if not all joint buyers assume that...
Expatriates and South African tax laws
Many hundreds, if not thousands of South Africans depart annually in search of greener fields abroad. Most of these expats retain their South African citizenship and live undisturbed with a work VISA issued by the foreign country. Expats also almost always accept or...
ABOUT OUR CONSULTANCY SERVICES
The Covid era has brought about many new opportunities in all spheres of business, including the legal profession. We recognised the opportunities and have decided to venture into a consultancy aimed specifically at the bespoke service and quality of advice given....
WHAT IS THE FINANCIAL INTELLIGENCE CENTRE?
The Financial Intelligence Centre (FIC) is South Africa’s national centre for the receipt of financial data, analysis and dissemination of financial intelligence to the competent authorities. The FIC was established by the Financial Intelligence Centre Act, 2001 (Act...
Owning Property as an Expat or Foreigner in SA
Are you a South African EXPAT who lives abroad with a working permit but who has not emigrated and still holds a SA Passport? Are you a foreign investor who wishes to or has bought a property in South Africa and need advice regarding possible double tax implications...
The Protection of Personal Information in South Africa
Businesses in South Africa have historically collected, processed and often shared clients’ information freely, without too many regulations or rules applicable to this process. As a result, the general consumer has been blissfully unaware that his or her personal...
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