Tag: South African Reserve Bank (SARB)
FICA compliance and penalties – the time for accountability is now
FICA Compliance and Penalties are becoming critical considerations for South African businesses, as non-compliance can lead to severe financial and reputational consequences.
SARB independence essential for economic stability
South Africans should be terrified by the continued discussion of the possible nationalisation of the South African Reserve Bank (SARB). While the Economic Freedom Fighters (EFF) welcome the discussion, and support putting the institution under total control of government, rational individuals should be supporting more independence and autonomy for the SARB, not less.
Cryptocurrency exchange control regulations
Cryptocurrency traders in South Africa are focused on understanding the tax implications of their transactions. These transactions are relative to the Income Tax Act. This has been challenging, as SARS has only stated that "the normal rules apply." They have not provided authoritative guidance on cryptocurrency-related transactions or when profits are considered capital or income.
SARB forfeitures, corporate actions and how they affect businesses
In this vidcast, we look into the new precedent being set by the South African Reserve Bank (SARB) on seizures and forfeitures of funds. With our guest, Petri Redelinghuys, founder at Herenya Capital Advisors, we explore the different types of corporate actions and how they affect businesses. We also look into some of the considerations business owners think about when structuring their businesses.
Navigating the transition from JIBAR to ZARONIA – South Africa’s benchmark...
The South African Reserve Bank (SARB) recently announced the completion of the observation period for the South African Rand Overnight Index Average (ZARONIA). This development marks a pivotal shift in South Africa’s financial landscape, transitioning from the Johannesburg Interbank Average Rate (JIBAR) to ZARONIA as the primary reference rate.
Crypto assets & the SARB Financial Surveillance Department
For most people, one of the most fascinating aspects of cryptocurrency is the ability to bypass traditional financial intermediaries, such as banks, and directly control their funds. But what many people may not know is that cross-border crypto asset transactions require prior exchange control permission.
Rate reprieve will lift holiday spirits after a tough year
While many factors indicated the possibility of a rate hike, the South African Reserve Bank (SARB)’s decision to hold their key lending rate provides some relief after a challenging year.
A simple guide to mastering forex for businesses and HNWI
When it comes to forex in a South African context, how can South African businesses and High-Net-Worth Individuals (HNWI) ensure that they are receiving the best service possible and secure the best rates?
Ways to maximise the impact of offshore investments
Some of South Africa’s foremost investment thinkers have long advised that people living in the country hold as much of their wealth offshore as possible. Understandably so too. Over the past decade or so, the S&P 500 has outperformed the JSE All-Share Index by a significant margin.
Robbing little guys to create jobs and perks for bigger guys?
Considerable negative public comment notwithstanding, the National Treasury and the South African Reserve Bank (SARB) have pressed ahead with the establishment of a new statutory body, this time a state insurer of bank-deposits.