Government, parliamentary and legislative information on financial matters, including National Treasury and SARS.
South African Revenue Service
An arrangement in which a company buys back shares on or after 3 February 2016 from one or more shareholders for an amount exceeding R10 million and issued shares within 12 months will be regarded as a reportable arrangement.
The South African Revenue Service (SARS) announced this in Government Gazette 39650.
Tax harmonisation provisions contained in the recently signed Taxation Laws Amendment Act and Tax Administration Laws Amendment Act will be reviewed after two years.
The presidency reminded stakeholders about this in a statement issued in response to media reports that insufficient consultation on the retirement reform proposals had taken place.
The standing committee on finance recently called for written comment on the Financial Sector Regulation Bill.
The bill was tabled in parliament in October 2015.