Mining
Lead Tax Counsel on restructure and exit by major foreign investor in the PGM sector, including successful SARS directive under Section 35A of the Income Tax Act confirming Nil CGT on exit.
Sell-side tax assistance to major foreign chrome producer on exit and divestment strategy, including comparison of various exit options taking into account issues such as mining rights and incumbent BEE participants.
Tax assistance to large PGM miner on expanding rail network into Africa and working with various consortium members.
Successful objection and refund for major chrome manufacturer on diesel refunds, including preparing technical support for client’s position and briefing of Senior Counsel as part of litigation strategy.
Successful objection against understatement penalties for major mining client due to error resulting in overstatement of assessed loss and understatement of unredeemed mining capex.
Tax support and provision of tax advice on transfer of funds from mine rehabilitation trust to dedicated mine rehabilitation vehicles.
Section 223 Tax Administration Act opinions on various mining related tax matters including deductibility of termination payments, inclusion of open-cost mining costs as part of unredeemed capex balance, applicability of Section 35A to disposal of shares in mining companies by non-resident etc.
M&A and Transactional Tax
Buy-side assistance to one of the largest FMCG groups in SA on structuring and acquisition of various manufacturing plants, including considering various structure options, minority offshore shareholder funding issues, managing identified tax risks following tax due diligence, including tax risk quantification.
Reorganization and the introduction of a strategic BEE investor to property holding group including complex restructure of various sectional title components of property development in a tax neutral fashion.
Tax due diligence support to transaction advisor in potential acquisition of engineering and geo-tech group.
Buy-side assistance to Private Equity fund on the acquisition of FSB regulated insurance broking business, including assistance with acquisition structure, and post deal implementation assistance.
High Net Worth Individuals and Family Business
Restructure of various family businesses with a view to assisting group diversification, risk management, asset protection and succession planning