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South Africa Enhancements to Trust Beneficial Ownership Information

21 September 2023

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Approved Changes

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South Africa

The South African Revenue Service (SARS) has announced enhancements to information on the beneficial owners of trusts, including the type of documents that must be submitted. --- Enhancements to Trust Beneficial Ownership information 15 September 2023 – SARS' aim is to record all beneficial owners of registered Trusts in order to comply with the Financial Action Task Force (FATF) requirements. In this regard, certain information must be submitted via e-Filing. These documents may include, but are not necessarily limited to, the following: An organogram, illustrative, or schematic diagram depicting effective control of the Trust. Where the Beneficial Ownership is in...