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Unpacking SA’s tax changes, loop structures and exchange control shifts

‘Ultra-high net worth clients definitely want to explore opportunities with the new relaxations’.
The replacement of the current exchange control system is likely to have a significant impact on corporates and individuals. Image: Shutterstock

South African tax law stepped boldly into 2021 – firmly in line with government’s stated intention to modernise the country’s existing exchange control system to support South Africa’s growth as an investment and financial hub for Africa.

Last year Finance Minister Tito Mboweni announced Treasury’s intention to transform the current exchange control environment into a capital flow management framework. This was first announced during the 2020 national budget speech, and essentially proposed an overhaul of exchange controls to take place over 12 months.

The replacement of the current exchange control system is likely to have a significant impact on both corporates and individuals, and for this reason we would like to take stock and unpack what these changes may mean for you.

In this recording, Moneyweb’s Ryk van Niekerk, chats to RMB Private Bank’s Chantal Robertson, Willem Van Der Merwe and Chantal Marx as they unpack and share insights into:

  1. What loop structures are
  2. What the main features of this new framework will look like
  3. What this means for you or your business and your offshore investments.

This webinar took place on Thursday, March 11.

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More on the guests:

Chantal Robertson
Global Solutions Head (Cross-Border Advice) at RMB Private Bank

Robertson has been in the financial services industry for just over 30 years. She started her career with FNB in the foreign exchange dealing environment, and subsequently moved into the exchange control consulting field with PwC. During this time she worked with many multinationals, providing guidance on a range of regulatory matters.

In addition, Robertson was involved in the 2003 amnesty, during which she focused on individuals and the unwinding of loop structures. This knowledge put her in good stead with the next two amnesties (the voluntary disclosure programmes in 2010 and 2016) after rejoining FNB in 2006.

Willem Van Der Merwe
Global Solutions Specialists at RMB Private Bank

Van Der Merwe is a qualified lawyer with vast experience in trust and estate planning. He assists high-net-worth individuals and families with cross-border structuring discussions. Local & Global Solutions Specialist CFP® BCom LLB LLM

Chantal Marx
Head of Research Wealth and Investments at RMB Private Bank

Passionate about investments, Marx helped launch the in-house research and insights platform at RMB Private Bank Wealth and Investments. She works closely with the FNB economics and strategy teams in generating original ideas and content, and communicating these thoughts to clients in a straightforward way.

Marx holds a Bachelor of Science degree (Mathematics and Economics) and a Bachelor of Commerce Honours degree (Investment Management) from the University of Johannesburg (UJ). Marx has her CFA Charter and is pursuing a masters degree in finance, also from UJ.

Brought to you by RMB Private Bank.

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