In the February 2020 Budget, the Minister of Finance, Tito Mboweni stated that the current exchange control regulations will be replaced with new less stringent regulations. On 28 October 2020, it was announced that the government will be pursuing steps to promote investment into South Africa. The following measures were announced:
Inward listing
All remaining
The Special Voluntary Disclosure Programme (SVDP) running until 31 August offers South African residents the opportunity to regularise their tax defaults and exchange control defaults.
There have been a number of similar opportunities to regularise tax and exchange control affairs in the past. We have seen two previous special amnesty opportunities in 2003 and 2010