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South African businesses are facing enormous uncertainty. The South African Business Confidence Index of the Bureau of Economic Research (BER) at the University of Stellenbosch reflects this. The BCI hit an all-time low in the second quarter of 2017.[1] Current socio-economic and political uncertainty puts a lot of pressure on business in general, and on SMMEs in particular.
Two of the primary global credit rating agencies (Standard & Poor’s and Moody’s) are due to announce the outcomes of their review of the respective credit ratings of South Africa on Friday evening, 24 November 2017. Depending on the result, there could be far reaching effects on both the rand and local government bonds.
After an incredibly busy period for reform and headlines since the demonetisation experiment just over a year ago in India, we were expecting a period of quiet where focus would shift firmly onto growth as we begin the run-up to the national election in 2019.
Investing offshore allows you to diversify and benefit from a broader universe of investment ideas, but what about the tax you may have to pay? As with any other investment, it is important to get the full picture before you make any decisions. When you invest offshore, the tax you may be required to pay depends heavily on the way you choose to invest.
The strongest deterrent against FSP compliance missteps is or should be: