Page 45 - Nexia SAB&T Business in South Africa Guide 2024
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STANDARD FOR AUTOMATIC EXCHANGE OF FINANCIAL ACCOUNT
        INFORMATION IN TAX MATTERS


       In recent years, governments and financial institutions have become much more
       aware of the large amounts of undisclosed wealth held in offshore accounts.
       The Standard for Automatic Exchange of Financial Account Information in Tax
       Matters (also referred to as the Common Reporting Standard or CRS) creates
       a globally co-ordinated and consistent approach to the disclosure of financial
       accounts held by account holders. The agreement requires sharing of information
       between the tax authorities regarding accounts and investments.
       SA is one of the early adopters of the CRS and is committed to commence
       exchange of information automatically on a wider front from 2017, together with
       over one hundred other jurisdictions.



        PRIME BANK OVERDRAFT RATES


                     Effective Date    Rate
                      24.07.2020       7.00%
                      18.11.2021       7.25%
                      28.01.2022       7.50%
                      24.03.2022       7.75%
                      19.05.2022       8.25%
                      22.07.2022       9.00%
                      23.09.2022       9.75%
                      25.11.2022      10.50%
                      27.01.2023      10.75%
                      31.03.2023      11.25%
                      26.05.2023      11.75%

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