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Tag: Controlled Foreign Company (CFC)

Are offshore bank, investment and trust accounts still allowed?

Unpacking the enigma around offshore starts with one simple certainty; nothing in the South African Income Tax or Reserve Bank regulations prohibits South Africans from opening a bank account, investment account or setting up an offshore trust.

Controlled Foreign Companies | proposed amendments

South Africa's tax legislation contains controlled foreign company (CFC) rules which aim to prevent South African taxpayers from locating companies in low tax jurisdictions in an effort to avoid paying South African tax.


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