How the latest Companies Act amendments affect your business
Companies have broader obligations to keep records of persons with beneficial interests in their securities.
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
Read moreCompanies have broader obligations to keep records of persons with beneficial interests in their securities.
It also wants to address the inconsistent treatment of non-resident beneficiaries when capital gains are distributed.
New requirements include the identification of ultimate beneficial owners and beefed-up risk management and compliance programmes.
One of the unforeseen consequences could be the premature acquisition of rights.