oa De Rebus - The tax and exchange control implications of share buy-backs and buy-ins



Much has been written recently about share buy-backs as a result of the recent promulgation of the relevant amendments to the Companies Act 61 of 1973 which came into operation on 30 June 1999. (See for example Koos and Pieter Stassen's article in 1999 (Aug) DR 63 and Bruce Cleaver's article in 1999 (Sep) DR 49.) The latest Taxation Laws Amendment Bill contains some amendments intended to cater for share buybacks. This article summarises the effect of these amendments as well as other tax consequences of share buy-backs and share buy-ins.


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