Global

Details

  • Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 8/5/2013

South Africa - Proposed changes to treatment of hedge funds 

August 5: A proposed legislative change (released for comments in early July 2013) would include hedge funds under South Africa’s tax regime applicable for collective investments (other than collective investments in properties).

Current tax principles are viewed as being inadequate to cater for hedge funds, and a special tax dispensation would provide certainty as to the tax treatment.


The special tax dispensation would only apply to hedge funds that have been determined to be a “collective investment scheme” in terms of the Collective Investment Schemes Control Act.


The regulatory framework to address hedge funds in terms of the Collective Investment Schemes Control Act currently is being finalized.


Read a July 2013 report prepared by the KPMG member firm in South Africa: New tax dispensation for collective investment schemes and hedge funds




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