Here’s what is happening in and affecting South Africa today:
- There is panic among expats over new proposed offshore tax laws, which will see all South Africans who are overseas – even those who are out of the country for over 183 days – be subject to the full tax schedule of South Africa. Government has softened its stance and had changed the proposed laws so the first R1 million earned is not taxed. [Moneyweb]
- Deputy Chief Justice Raymond Zondo will make a ruling today on whether those incriminated in testimony in the state capture commission will be able to cross-examine witnesses, and which conditions may or may not be placed on that. He will also decide whether the Guptas will be allowed to do so via video link from Fubai. [Mail & Guardian]
- Former president Jacob Zuma has told students at Walter Sisulu University in the Eastern Cape that the government should nationalise the land, the mines and the banks. He also said that there is no such thing as state capture, just individuals doing things for other individuals. [EWN]
- The ousting of DA mayor Athol Trollip in Nelson Mandela Bay is heading to court, with the ACDP and COPE seeking that the decision be reviewed. Trollip was ousted in a motion of no confidence that was held when none of the DA’s coalition partners were present in council. [News24]
- South Africa’s rand firmed on Wednesday as stronger retail sales data dimmed the spotlight on economic growth concerns, while stocks followed global equities down. On Thursday the rand was at R14.94 to the dollar, R19.48 to the pound and R17.36 to the euro.