Trusts are often established for the purpose of holding assets with no intention of trading. The assets held by the trust could be shares or property that do not generate income that would be subject to income tax. Sometimes this leads to trustees misunderstanding their tax compliance obligations. Every year the South African Revenue Service […]
Director,
Garlicke & Bousfield Inc
When a property developer sells residential property, he must charge VAT on the sale at the standard rate of 15%. Sometimes market conditions make it difficult for a developer to sell newly built properties for extended periods of time. In such circumstances a developer will often recover ongoing expenses by entering into short-term leases for […]
Director,
Garlicke & Bousfield Inc
In the recent case Trevo Capital Ltd v Steinhoff International Holdings (Pty) Ltd, the High Court had to determine if section 45 of the Companies Act, 2008 (”Act”) applied to financial assistance provided to a related foreign company, and if a conditional payment undertaking constitutes financial assistance as defined in section 45. In 2017 substantial […]
Director,
Garlicke & Bousfield Inc
PACTA SUNT SERVANDA [Latin: pacts must be respected] Agreements are to be kept Sanctity of contract As agreements between parties are concluded every day and where it is often heard that verbal agreements are extremely difficult to rely on, it is commonly accepted that agreements should be reduced to writing but where they are often not. […]
A company’s issued shares may be held by, and registered in the name of one person (“nominee”), for the beneficial interest of another person (“beneficial owner”). The South African Revenue service (“SARS”) has released a new Binding Private Ruling 370 (“ruling”) on the tax implications when the shares are de-registered from the nominee’s name and […]
Director,
Garlicke & Bousfield Inc
IR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Dawie Bezuidenhout D.P. Bezuidenhout Attorneys Inc. Dawie has joined IR as our exclusiveCommercial Litigation and White Collar Crime Member in South Africa. Dawie specialises in civil and criminal litigation, while the firm is equipped to take on various matters such as […]
In Competition Commission of South Africa v Mediclinic Southern Africa Pty Ltd the Constitutional Court (“ConCourt”), had to consider whether the Competition Appeal Court (“CAC”) had correctly interfered with the findings of, and remedy given by the Competition Tribunal in a merger between Mediclinic and Matlosana Medical Health Services (Pty) Limited. In 2019, the Tribunal […]
Director,
Garlicke & Bousfield Inc
In the recent Supreme Court of Appeal (SCA) case of Van der Merwe v Bonnievale Piggery (Pty) Ltd the court determined that where there is an interlinked contractual relationship for sale of products and the parties are unable to reach agreement on price, there is no consensus between the parties and the entire contractual arrangement […]
Director,
Garlicke & Bousfield Inc
In a matter before the Competition Tribunal, evidence was heard that the four major tyre manufacturers in South Africa (Goodyear, Continental, Bridgestone, and Apollo Tyres, previously known as Dunlop) as well as the South African Tyre Manufacturers’ Conference (SATMC), a representative body of South African tyre manufacturers, allegedly held meetings and telephone conversations from 1999 […]
Director,
Garlicke & Bousfield Inc
The department offers a full range of expert services in all aspects of corporate and commercial law. This division is involved locally, nationally and internationally with: Agency, distributorship, licensing and franchising structures Amalgamations, restructuring and unbundling Banking and finance, including conventional and Islamic banking and finance Black economic empowerment (BBBEE) structures Business rescue, insolvency and […]
Director,
Garlicke & Bousfield Inc
Founder,
D.P. Bezuidenhout Attorneys Inc
We have in-house expertise providing comprehensive company incorporation and secretarial work and services, including the following: Incorporation of new companies in SA or anywhere in Africa or the rest of the world Replacement or amendment of MOI Purchase and tailoring of shelf companies/CCs Company/CC de-registrations Restoration of deregistered companies Voluntary winding up of companies and […]
Director,
Garlicke & Bousfield Inc
