The South African Revenue Services has published a draft guide on venture capital companies for public comment. The draft guide provides general guidance on venture capital companies (VCCs) and investments in such companies as governed by section 12J. Section 12J allows a holder of venture capital shares issued by a venture capital company to claim a 100% deduction of the cost of those shares, provided certain requirements are met. The section is effective for venture capital shares acquired on or after 1 July 2009 but on or before 30 June 2021. Section 12J has requirements at the level of the...