The Ministry of Finance of South Africa issued a media statement on 12 October 2013, stating that United Kingdom and South Africa have agreed to work together to tackle offshore tax avoidance including through pressing for better international action. In this regard, South Africa will connect the pilot scheme for the automatic tax information exchange which initiate by the UK, along with Germany, France, Spain and Italy. The subject of how to combat international tax evasion has received increased attention with the formulation of an action plan by the G20 and OECD. A number of agreements for the exchange of tax information have recently been signed by governments to ensure that taxable income cannot be hidden in foreign jurisdictions.
Related Posts
South Africa: SARS updates interest rate tables for taxes, refunds, loans
The South African Revenue Service (SARS) has released updated interest rate tables on 22 January 2026. Interest rates charged in terms of the legislation administered by SARS are split into three main categories, namely: interest charged on
Read More
UK: Treasury consults on new electric vehicle excise duty
The UK Treasury has opened a public consultation on introducing an electric vehicle excise duty (eVED), as announced in the Autumn 2025 Budget. Autumn Budget 2025 announces the introduction of eVED for electric and plug-in hybrid electric cars,
Read More
South Africa: SARS updates guidance on turnover tax for micro businesses
The South African Revenue Service (SARS) has released updated guidance on turnover tax for micro businesses, aimed at helping small enterprises navigate the simplified tax regime. The new resources include the Tax Guide for Micro Businesses (Issue
Read More
UK: HMRC updates guidance on transfer pricing, PE rules, diverted profits tax
The UK tax authority, His Majesty's Revenue and Customs (HMRC) has updated its International Manual, providing revised guidance on key taxation areas affecting multinational companies. The updates, published on 16 January 2026, include the
Read More
UK: Scotland presents 2026-27 budget, proposes new levies
Scotland’s Cabinet Secretary for Finance and Local Government presented the 2026-27 State Budget to the parliament on 13 January 2026. The Budget’s key proposals include higher personal income tax brackets and the introduction of new levies,
Read More
UK: HMRC updates anti-money laundering guidance
HM Revenue & Customs (HMRC) has issued updated guidance for the accountancy sector on compliance with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The guidance applies to all
Read More