Taxation is how states raise funds to pay for and fund the public service. Given the vast sums involved, large organisations and individuals have in the past sought ways to avoid paying tax through leveraging the global banking system so they are out of reach of local tax authorities. As reported by the Washington Post, […]

In the next installment of Letsema Talks, we speak to Moshe Unterslak, a Consultant at Letsema, about FICA, the associated 2017 Amendment Act and its impact on financial institutions and the regulatory environment they operate in. Our conversation follows Moshe’s recent article, FICA Amendment Act: What you need to know. To find out how Letsema’s […]

Financial institutions are constantly being confronted with greater scrutiny, increasing tax audits, and regulatory changes. The requirement to find more efficient and effective ways of conducting global tax information reporting, including but not limited to the Foreign Account Tax Compliance Act and the Common Reporting Standard, has become a vital business need. In the past, […]

Regulatory changes by the state and the agencies acting on their behalf have become a status quo for financial institutions, adding to their already onerous compliance requirements. The Mutual Evaluation Report is one measure which seeks to analyse the implementation and effectiveness of measures to combat money laundering and terrorist financing. Compiled by the Financial […]