Uganda Tax Appeals Tribunal rules on withholding tax due on accrued interest
tax
09 Jun 2020BY Celia Becker
On 26 May 2020, the Uganda Tax Appeals Tribunal (“TAT”) in the case of ATC Uganda Limited (“ATC”) vs Uganda Revenue Authority (“URA”) ruled on when an obligation for withholding tax arises and when an amount is deemed to be “paid”.
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South Africa: DA launches application to declare section 27 of the Disaster Management Act unconstitutional and invalid
dispute resolution
09 Jun 2020BY Aslam Moosajee AND Shenaaz Munga
In this application, the DA seeks leave from the Constitutional Court for direct access in terms of section 167(6)(a) of the Constitution read together with Rule 18 of the Constitutional Court Rules.
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tax in brief | issue 47
tax
09 Jun 2020
tax in brief | issue 47
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South Africa: Zoom and section 189 consultations
employment
09 Jun 2020BY Brian Patterson AND Shivani Moodley
This judgment reflects that our courts are taking judicial notice of a new normal that has emerged as a result of the COVID-19 pandemic.
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Draft conditions for pension funds’ use of derivatives published for comment
banking and finance
09 Jun 2020BY Kelle Gagné
On 8 June 2020, the FSCA published a draft conduct standard titled “Conditions for Investment in Derivative Instruments for Pension Funds", by which the FSCA would regulate the parameters for pension funds to enter into derivative transactions.
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What constitutes a strike involving essential service workers?
employment
08 Jun 2020BY Hlengiwe Mahlangu
In a recent South African Labour Court decision, an employer sought to interdict collective action undertaken by members of DEMAWUSA on the basis that the members provided an essential service and that their strike was in contravention of the LRA.
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Africa Business In Brief
issue 355 | 07 Jun 2020
issue 355
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How can firms balance imperatives of layoffs and employment equity?
employment
05 Jun 2020BY Lauren Salt AND Jessie Moore
The detrimental effects of coronavirus and lockdown have forced many employers to consider retrenchment to stay afloat.
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South Africa: Consolidated COVID-19 Direction on Health and Safety in the Workplace (for industries outside mining)
mine and occupational health and safety
05 Jun 2020
On 4 June 2020, Notice R.639 was published in Government Gazette No. 43400, in terms of which the Minister of Employment and Labour issued a Consolidated COVID-19 Direction.
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Long awaited OTC Margin Rules are now final
banking and finance
04 Jun 2020BY Kelle Gagné
Almost exactly five years after the Financial Services Board released the first draft board notice on margin requirements for derivatives, the long awaited final “OTC Margin Rules” have been published.
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Africa regulatory ENSight
Africa regulatory and business intelligence
issue 5 of 2020 | 03 Jun 2020
issue 5 of 2020
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South Africa: Commentary on Pretoria High Court judgment declaring the lock-down regulations invalid
dispute resolution
03 Jun 2020BY Aslam Moosajee AND Joshua Davis
On 2 June 2020, Judge Norman Davis handed down judgment declaring the regulations promulgated in terms of section 27(2) of the Disaster Management Act, 2002 unconstitutional and invalid.
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South Africa: COVID-19 related insurance claims and coverage: the arguments for and against coverage
Insurance
02 Jun 2020BY Rob Scott AND Zara Sher
The outbreak of the Coronavirus (COVID-19) pandemic has raised a lot of questions around insurance coverage in relation to COVID-19 related losses, exposures and liabilities.
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Distressed M&A: You do not have to sell cheaply, but you must move quickly
private equity
02 Jun 2020BY Justin Balkin AND Tony Lee
In the coming months, we expect to see more distressed M&A resulting from companies being pressured by creditors to divest assets to pay down debt and avoid going into business rescue (or liquidation) or to fund ongoing operations.
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Business failure: what happens to the trade marks?
intellectual property (IP)
02 Jun 2020BY Ilse du Plessis
The South African publishing industry has been hit by two bombshells, leading to speculation about the future of many much-loved magazine titles.
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