Government, parliamentary and legislative information on financial matters, including National Treasury and SARS.
National treasury has confirmed, in Government Gazette 38729, that creating or developing a multisource pharmaceutical product or carrying out a clinical trial are regarded as research and development activities in terms of section 11D of the Income Tax Act.
The section deals with tax deductions in respect of scientific or technological research and development.
A bill designed to boost South Africa’s ability to fight financial crimes by proposing measures to address threats posed by money laundering and terrorism financing has been published for comment.
The Draft Financial Intelligence Centre Amendment Bill was approved by cabinet last week.
Financial Services Board
The Financial Services Board has set out, in Government Gazette 38693, the capital to be maintained by a manager of a hedge fund.
The capital requirements are laid down in terms of the Collective Investment Schemes Control Act of 2002.