n Without Prejudice - Exchange control and the Shuttleworth decision : tax

Volume 13, Issue 9
  • ISSN : 1681-178X



Billionaire Mark Shuttleworth certainly did well when he disposed of his business - he realised approximately R4,2bn. He decided to emigrate from South Africa on February 23 2001. As a result, the assets located in South Africa were blocked. In order to remit the funds from South Africa, Shuttleworth was required to pay a 10% levy of R250 474 893 to the South African Reserve Bank.

Loading full text...

Full text loading...


Article metrics loading...


This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error