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August 2021

Launching A Comprehensive New Learning Solution: The Anchor Capital Group and Moore South Africa Join Forces

2020 and 2021 have been years unlike any other and have challenged us in our personal, professional and business capacities – not only in South Africa, but also worldwide.    As a network, Moore South Africa had to completely rethink how our businesses operate and find new innovative ways to achieve our goals. Our in-house learning and development academy, TAG Talent & Growth, together with its online learning portal, has been instrumental in guiding our network to transition to a remote workforce and build the required skillset to meet the new challenges, all whilst retaining the required level of compliance and excellence. This experience has highlighted the value that a well-developed, user-friendly and forward-thinking product such as our learning portal could bring to the new world of work.   As the Moore South Africa network was extending its in-house academy to external audiences, the Anchor Capital Group identified the need for a comprehensive, strategically developed online Continuing Professional Development (CPD) solution for, among others, SAICA and IRBA members.  To this extent, the Anchor Capital Group partnered with financial and management accounting learning and development professional, Anton van Wyk CA(SA), to spearhead their CPD venture.    Based on the synergetic and complementary nature of their strategies, the Anchor Capital Group and Moore South Africa are proud to announce the amalgamation of their strengths, and existing products and platforms, to bring you the new development hub of choice for future-ready professionals: CPD Campus.

China Tech Stocks Fall Again as Data Privacy Law Passes

Over the past year, China has cracked down heavily on its technology (tech) sector in areas such as data security and anti-competitive practices, gaming, and fintech. On Friday (20 August), tech shares in China fell once again after the country passed strict data privacy legislation, adding to these tech counters’ compliance burden. Marco de Matos of Anchor Capital looks at the recent developments.

Directors – To Remove or Resign

The Companies Act 71 of 2008 (the “Act”) imposes a fiduciary duty on all directors of a company. Directors have a duty to act in good faith, exercise reasonable care, skill and diligence and act in the best interests of the company. The fiduciary duties of a director may be relinquished if they choose to resign, or if they are removed from the board.

Renewed ETI and PAYE Tax Relief Measures

Following the recent unrest, destruction of public and private infrastructure and extensive business interruptions country wide, the president announced additional tax relief measures during his recent address to the nation. Subsequently, National Treasury has released draft Legislative Amendments to enact the proposed interim tax relief measures. Although not promulgated yet, these Bills provide the necessary Legislative Amendments required to implement the Covid-19 tax relief measures as proposed. Mark Hewitt takes a more detailed look.