Image Rights: It’s Time for Clarity and Certainty
Monday, November 25, 2013
The tax treatment of image rights is contentious in many countries, South Africa included. Lionel Messi the hero of Spanish football, recently paid €5m to the tax authorities after he had been charged with tax evasion in respect of the sale of the commercial rights to use his image, autograph and name ( “image rights”). The charges arose from the income from the sale of Messi’s image rights to offshore companies. The perceived value of image rights was also rumoured to be an important aspect of the talks surrounding Gareth Bale’s record breaking transfer from Tottenham Hotspur FC to Real Madrid. In the UK it has been reported that several football clubs in the Premier League have settled disputes with HM Revenue and Customs (*HMRC) regarding the taxation of image rights.
Prescription and knowledge of the root cause of the defect
Thursday, November 14, 2013
The execution of a construction contract must be seen as a fluid and dynamic process that alters as the scope of work changes, disruptions occur, programmes are revised and variations are stated. These changes can affect the time and cost associated with the performance of the works, as well as the manner in which the works are performed. It is, therefore, not surprising that a myriad of claims pertaining to time extensions – for disruption costs and defective workmanship or concerning noncompliance with performance warranties – arise in the construction industry.
Bilateral Investment Treaties – A Shield Or A Sword?
Friday, November 08, 2013
Why is the South African government canceling bilateral investment treaties (BITs) with its most important foreign investor countries? It was recently announced that South Africa had terminated Promotion and Protection of Investment treaty with Switzerland. South Africa has also recently terminated its BITs with the Netherlands, Spain, Luxembourg and Belgium and Germany, and it appears that other cancellations are in the pipeline. In the current economic climate, with questions being asked by foreign investors about labour relations, the implementation of the new order mining rights regime and governmental policy drift generally in South Africa, is this the time to be canceling treaties which guarantee foreign investors in South Africa's economy certain protections and assurances?
Bowman Gilfillan wins Africa Oil and Gas law firm of the year award
Monday, October 28, 2013
Pan-African corporate law firm Bowman Gilfillan has won the prestigious Law Firm of the Year award at the Africa Oil and Gas Summit 2013.
Bowman Gilfillan Fares Well At The African Legal Awards
Friday, October 25, 2013
The African Legal Awards 2013, hosted by UK-based Legal Week, were presented in Johannesburg on the 24th October. Bowman Gilfillan fared well winning the awards for Banking, Finance & Restructuring Team of the Year as well as the Property & Construction Team of the Year. Willie du Plessis of Eskom won the General Counsel of the Year award sponsored by Bowman Gilfillan Africa Group.
The new double tax agreement between South Africa and Mauritius - What is the effect on business?
Monday, October 14, 2013
The news of the revised double tax agreement between South Africa and Mauritius (“the new DTA”) on Monday, 27 May, rang alarm bells for both Mauritian companies investing into South Africa as well as for South African companies expanding offshore via Mauritius. What are these changes and how will they impact on the use of Mauritian companies for investment by non-residents into South Africa, or for foreign investment by South Africans?
Mozambique introduces Competition Law
Monday, October 14, 2013
Mozambique has promulgated Competition Law, 10 of 2013 (the “Act”), which will enter into force on 10 July 2013. The Act applies to all economic activities in or having an effect in Mozambique, subject to certain exceptions. The Act creates an independent regulating authority (the “Authority”). The Act prohibits certain horizontal and vertical agreements and the abuse of dominance. The Authority will also regulate “concerted conduct”. Horizontal agreements are prohibited where they substantially impede, distort or restrict competition in all or part of the national market.
Bowman Gilfillan Africa Group expands into Botswana
Wednesday, October 02, 2013
Bowman Gilfillan Africa Group is pleased to announce the addition of Botswana to the growing number of countries in sub-Sahara Africa in which we have a presence. In line with our growth strategy in Africa, the group's expansion in Botswana is in association with Bookbinder Business Law, a corporate commercial law firm that participates in many of the major transactions in that country.
Jonathan Lang, Head of Bowman Gilfillan Africa Group, commented that the addition of Bookbinder Business Law would strengthen the capabilities of the group, which focuses on providing integrated, cross-border legal services of the highest standard to clients throughout Africa.
Euromoney Tax Handbook 2013
Thursday, September 26, 2013
How is South Africa responding to growing concerns about base erosion? br>
South Africa, influenced by international tax developments, has proposed new measures that seek to address perceived base erosion problems, whilst at the same time it tries to position itself as a 'Gateway to Africa'. From a tax policy perspective, base erosion becomes a concern for national tax authorities when gaps in the interaction of different tax systems, or the application of bilateral tax treaties, allow for income from cross-border activities to result in either non-taxation or unduly low taxation. The term 'base erosion' includes tax evasion, tax avoidance, tax underestimation and population flight.
Getting the Deal Through – Merger Control 2014
Thursday, September 19, 2013
What is the relevant legislation and who enforces it?
The relevant legislation is the Competition Act 89 of 1998, as amended (the Act) and the regulations promulgated in terms of that Act. The Act was amended by the Competition Second Amendment Act 39 of 2000, which came into effect on 1 February 2001.
The Competition Amendment Act 1 of 2009, which has been passed into law, has not come into force, with the exception of section 6, relating to market enquiries, which came into force on 1 April 2013.