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An overview by ENS Africa, Taxand South Africa
The Draft Capital Flow Management Regulations recently published by the National Treasury for public comment demonstrates an overhaul of South Africa’s exchange control framework. It transitions from the pre-approval model to a risk-based system focused on reporting, surveillance of high-impact and high-risk cross-border transactions, and combating illicit financial flows.
Key changes in the draft regulations include:
Tax experts from our South African member firm, ENS Africa, have published a detailed overview of the implications of the draft regulations, which you can read in full here.
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