U.S. Ambassador to South Africa Mr Patrick H. Gaspard and South African Minister of Finance, Mr Nhlanhla Nene signed an intergovernmental agreement, on June 9, 2014, to improve international tax compliance and to implement the Foreign Account Tax Compliance Act.
Related Posts

South Africa to maintain 15% VAT rate, withdraws proposed increase
The South Africa's Minister of Finance will shortly introduce the Rates and Monetary Amounts and the Amendment of Revenue Laws Bill (Rates Bill), which proposes to maintain the Value-Added Tax (VAT) rate at 15% from 1 May 2025, instead of the
Read More
US: IRS issues guidance on APA submission review
The US Internal Revenue Service (IRS) Large Business and International (LB&I) division released memorandum LB&I-04-0425-0005 on 22 April 2025, which reissues interim guidance LB&I-04-0423-0006 on 25 April 2023. This
Read More
US: Oregon, 11 States file lawsuit against Trump Administration over tariffs
The Oregon Attorney General has announced a multi-state lawsuit filed on 23 April 2025, challenging the Trump Administration's executive orders to raise tariffs globally without congressional approval. The case is led by Oregon Attorney General
Read More
US: Trump warns Canada auto tariff could rise above 25%
The US 25% tariffs imposed on cars imported from Canada could be further increased, said President Donald Trump yesterday, 23 April 2025. "When I put tariffs on Canada - they're paying 25% - but that could go up, in terms of cars. All we're doing
Read More
US: IRS, Treasury to scrap basis shifting transaction of interest rules
The US Department of the Treasury and Internal Revenue Service (IRS) issued Notice 2025-23 on 17 April 2025, announcing plans to propose removing the basis shifting transactions of interest regulations (T.D. 10028) originally issued on 14 January
Read More
US: Indiana approves 10% property tax credit
Indiana’s Governor Mike Braun (R) signed Senate Bill SB 1 into law on 15 April 2025, introducing significant tax relief measures for Indiana residents and businesses. The legislation provides homeowners with a property tax credit while raising
Read More