Enacted in 2010, the US Foreign Account Tax Compliance Act (FATCA) seeks to prevent tax abuses by US persons living or operating outside of the US. FATCA imposes a 30% withholding tax on payments of US source income made to non-US financial institutions, unless they enter into an agreement with the US Internal Revenue Service … Continue reading
After much anticipation, an important milestone in the road to commencement of the Protection of Personal Information Act, 2013 (POPI), has been reached. From 11 April 2014, the following sections of POPI are operational: Section 1, which contains the definitions and sets out the purpose of POPI; Part A of Chapter 5 (sections 39 to 54), … Continue reading
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