tax brochure - bowmans law

Contents

04 OurFirm

05 OurFootprintinAfrica

06 OurTaxPractice

07 OurSpecialistServices

09 OurSignatureMatters10 Accolades

12 KeyContacts

Tax

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4CONTENTS PAGE

Our Firm

WithsixofficesinfourAfricancountriesandover400specialisedlawyers,we

aredifferentiatedbyourindependenceandthequalityoflegalservicesweprovide.

WedrawonouruniqueknowledgeoftheAfricanbusinessenvironmentandin-depthunderstandingofthesocio-politicalclimatetoadviseclientsonawiderangeoflegalissues.Ouraimistoassistourclientsinachievingtheirobjectivesassmoothlyandefficientlyaspossiblewhileminimisingthelegalandregulatoryrisks.

Ourclientsincludecorporates,multinationalsandstate-ownedenterprisesacrossarangeofindustrysectorsaswellasfinancialinstitutionsandgovernments.

Ourexpertiseisfrequentlyrecognisedbyindependentresearchorganisations.WehavebeennamedAfricanLegalAdviseroftheYearbyDealMakersforthelastfourconsecutiveyearsandSouthAfricanLawFirmoftheYearfor2018intheChambersAfricaAwardsforExcellenceandtheSouthAfricanProfessionalServicesAwards.Wewerealsotheonlyfirmthatwas‘highlycommended’intheAfricanLawFirmoftheYear–LargePracticecategoryattheAfricanLegalAwardshostedbyLegal WeekandtheCorporateCounselAssociationofSouthAfricain2017andwontheTechnology,MediaandTelecommunicationsTeamoftheYearAward.

Bowmans is a leading Pan-African law firm. Our track record of providing specialist legal services, both domestic and cross-border, in the fields of corporate law, banking and finance law and dispute resolution, spans over a century.

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Our Footprint in Africa

WeprovideintegratedlegalservicesthroughoutAfricafromsixoffices(Cape

Town,DaresSalaam,Durban,Johannesburg,KampalaandNairobi)infourcountries(Kenya,SouthAfrica,TanzaniaandUganda).

WeworkcloselywithleadingNigerianfirm,UdoUdoma&Belo-Osagie,andMozambique-basedboutiquefirm,TacianaPeãoLopes&AdvogadosAssociados.WealsohavestrongrelationshipswithotherleadinglawfirmsacrosstherestofAfrica.

WearerepresentativesofLexMundi,aglobalassociationwithmorethan160independentlawfirmsinallthemajorcentresacrosstheglobe.Thisassociationgivesusaccesstothebestfirmsineachjurisdictionrepresented.

Bowmans offices

Relationship firm

Significant transaction or advisory experience

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Wehaveknowledgebasedonyearsofexperienceandadepthandbreadthoftaxlawskillsthatfewareabletomatch.Weprovideefficienttaxandbusinesssolutionsbycombiningthisstrengthwithcommercialacumen.

OurtaxspecialistsworkcloselytogethertoadviseoninvestmentsandoperationsinvariousAfricancountries,ensuringthatallaspectsofinternationaltransactionsarethoroughlyconsideredandplanned.

Servicesrangefromthetaxaspectsofcorporatetransactions(includingmergersandacquisitions,privateequitytransactions,cross-borderinvestmentstructuresandcorporaterestructures),tofinancialstructuring,projectfinancemattersandthetaximplicationsofemploymentdecisions,andextendtotaxlitigationanddisputeresolution.

Wehavespecialistknowledgeofavarietyofsectorsincludingconstructionandinfrastructure,energy,financialservices,logistics,mining,realestateandtelecommunications.

Ourclientsincludeleadingcorporates,financialinstitutionsandindividualsinthecountriesinwhichweoperate.WealsoworkwithinternationallawfirmstoservicetheirclientsexpandingintoAfrica.

Our Tax Practice

We provide efficient

tax and business

solutions by combining

our experience with

commerical acumen.

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Ourmainfocusareasinclude:

CORPORATETAX

• reviewingcommercialagreements(includingmergers,acquisitionsandjointventures)andadvisingonthetaximplications;

• advisingonthetaximplicationsoftherestructuringofgroupsofcompanies,intellectualpropertytransactionsandrealestatetransactions,includingthetaxtreatmentofrealestateinvestmenttrusts(REITS);

• advisingonthetaximplicationsoftheformationofprivateequityfunds,acquisitionsanddisposalbyprivateequityfundsanddebtrestructurings;

• undertakingtaxduediligenceinvestigationstodeterminethetaxexposureofinvestments;

• advisingonthetax-efficientstructuringofdebtandequityfundingprovidedbylocalandinternationalfinancialinstitutions,includingthetaxtreatmentofcomplexfinancialinstruments;and

• advisingonthetaxtreatmentofoilandgasoperationsandinotherenergysectors,suchasrenewableenergyandminingoperations.

INTERNATIONALTAX

• advisinglocalcorporates,financialinstitutionsandindividualsonthetaxandexchangecontrolimplicationsoftheirforeigninvestments,includingpotentialtaxexposuresinotherjurisdictionsandtheimpactofdoubletaxationagreements;

• advisingforeignresidentsonthetax-efficientstructuringoftheirinvestmentsinSouthAfricaandinotherAfricancountries,includingexposuretoSouthAfrican

withholdingtaxesandtheuseoftheSouthAfricanHeadquarterRegime;

• advisingonexchangecontrolrestrictionsapplicabletocross-bordertransactions,includingassistingwithapplicationstotheFinancialSurveillanceDepartmentoftheSouthAfricanReserveBank;

• advisingontheapplicationoftheSouthAfricantransferpricingrules,includingthereviewingandimplementationoftransferpricingpoliciesandarrangements;and

• advisingonthetaxconsequencesofinternationalsecondmentsofpersonnel.

DISPUTERESOLUTION

• assistingclientswithallaspectsoftaxlitigationincludingresponsestoSouthAfricanRevenueServicequeries,audits,objections,appeals,representationincourtcases,alternativedisputeresolutionandthenegotiationofsettlementsoftaxdisputes.

Our Specialist Services

"Well-established practice

valued for its long-standing

strength in a diverse array of

tax concerns, with notable

proficiency in corporate

transactions and business

restructurings. Widely respected

for its ability to handle complex

mandates for an impressive

roster of domestic and

international players."

– Chambers & Partners, 2017

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TRUSTSANDINCENTIVESCHEMES

• advisingonthetaximplicationsofshareschemesandotherincentiveschemes;

• planningandadvisingonthetaximplicationsofblackeconomicempowermenttransactions;and

• advisinghighnetworthindividualsontheuseoftrusts(localandforeign)andthetaxconsequencesoftheflowoffundsviasuchtrusts.

CUSTOMSANDINTERNATIONALTRADE

• advisingoninternationaltradeandcustomsandexcise,includingassistingwithrelatedlitigation;and

• advisingonunfairtradepractices(includinganti-dumping,safeguardingandtheimpositionofcountervailingduties)andallotherdealingswiththeInternationalTradeAdministrationCommissionofSouthAfrica.

GENERAL

• advisingindividualsandcorporatesongeneraltaxmatters;and

• providingthesupportingservicesnecessarytoimplementouradvice,includingassistingwithvarioustaxregistrationsandobtainingrulingsanddirectivesfromtheSouthAfricanRevenueService.

"Clients praise the team

for its “excellent advice”,

“approachable manner”,

“industry knowledge” and

“fast turnaround times”.

– Legal 500, 2017

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Someofourrecentmattersincludeadvising:

• theAlexanderForbesGroupofcompaniesonitslistingonthemainboardoftheJSE,valuedatZAR9.7billion;

• CitiBankandJPMorganonloanfacilitiesofapproximatelyZAR21billion,grantedtoWoolworthsfortheacquisitionofDavidJonesinAustralia;

• ontheestablishmentoftheDeltaInternationalRealEstateFund,oneofthefirsttwodually-listedAfricanrealestatefunds–weadvisedontheother(SanlamAfricaCoreRealEstateFund)aswell;

• MarriottindesigningtheacquisitionstructureinitsprocurementoftheProteaGroupvaluedatapproximatelyZAR2billion.OurinvolvementextendedtoadvisingonthecomplexexchangecontrolrulesandapplicationtotheReserveBank;

• PeermontGlobalontheproposedacquisition,bySunInternational,ofitssharesandexistingdebtvaluedatalmostZAR5billion;

• SABonatariffdisputewithSARS;• SABMillerplcandSABontheproposed

transactiontocombinetheirnon-alcoholicready-to-drinkbeveragebusinesses(principallyinsouthernandeasternAfrica)withthoseoftheCoca-ColaCompanyandGutscheFamilyInvestments,valuedatapproximatelyUSD6billion;

• anddefendingvariousentitiesinagroupofcompaniesagainstaggressivetaxassessmentsbySARS–penaltiesdemandedwere200%;wehelpedourclienttosettleforasignificantlylowerpenalty;and

• on,andrespondingto,ananti-dumpingdutyinexcessofZAR500millionimposedonWiesenhofInternationalGMBHforexportsoffrozenchickenfromGermany.

Our Signature Matters

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Accolades

AFRICANLEGALAWARDS2017WewontheTechnology,MediaandTelecommunicationsTeamoftheYearAward.Wewerealso‘highlycommended’intheAfricanLawFirmoftheYear–LargePracticeandLitigationandDisputeResolutionTeamoftheYearcategories.DEALMAKERSAWARDS2018

WehavebeenidentifiedastheleadinglegaladviserinAfricabyvolume.Thisisthefourthconsecutiveyearwehavebeenrecongnisedthisway.

INTERNATIONALLAWOFFICECLIENTCHOICEAWARDSWewontheawardforSouthAfricafor2005,2006,2008,2011andagainin2015.

INDIABUSINESSLAWJOURNAL2017WewerenamedasoneoftheleadinginternationallawfirmsforIndiawork.

WHO’SWHOLEGALAWARDS2016WewerenamedSouthAfricanLawFirmoftheYear.

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36 Recognised Lawyers67 Recognised

Lawyers

TIER1KENYA

Financial&CorporateMining

SOUTHAFRICA

CapitalMarketsCompetitionEnergyM&AUGANDA

Financial&CorporateProjectDevelopmentTIER2

KENYA

EnergyInfrastructure

SOUTHAFRICA

BankingInfrastructureMiningOil&GasProjectFinance

BAND1

KENYA

Banking&FinanceCorporate/CommercialEmployment

SOUTHAFRICA

CapitalMarkets:DebtCapitalMarkets:EquityCompetitionCorporateInvestigationsM&AEmploymentEnvironmentIT/TelecommunicationsProjects&EnergyShippingTax

UGANDA

GeneralBusinessLaw

BAND2

SOUTHAFRICA

Banking&FinanceDisputeResolutionMedia&BroadcastingRestructuring/Insolvency

KENYA

Projects&Energy

TANZANIA

GeneralBusinessLaw

IFLR1000 2018 RANKED US IN THE FOLLOWING AREAS

CHAMBERS & PARTNERS 2018 RANKED US IN THE FOLLOWING AREAS

32 Recognised Lawyers

TIER1

KENYA

Banking,Finance&CapitalMarketsCommercial,Corporate&M&AEmploymentRealEstate&Construction

SOUTHAFRICA

Commercial,Corporate&M&ACompetitionEmploymentProjects&InfrastructureShipping

UGANDA

LegalMarketsOverview TIER2

KENYA

DisputeResolutionProjects&Energy

SOUTHAFRICA

Banking&FinanceConstructionDisputeResolutionInvestmentFundsTax

TANZANIA

LegalMarketsOverview

THE LEGAL 500 EMEA 2018 RANKED US IN THE FOLLOWING AREAS

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Key Contacts

BARRYGARVEN HeadofTax,JohannesburgJohannesburg,SouthAfrica T:+27116699323E:[email protected]

WALLYHORAK

HeadofTax,CapeTownCapeTown,SouthAfricaT:+27214807935E:[email protected]

ERNESTWILTSHIRE

PartnerKampala,Uganda

T:+256414254540E:[email protected]

ALEXMATHINI

PartnerNairobi,Kenya


KELLYPRETORIUS

PartnerJohannesburg,SouthAfrica


ALANKEEP ManagingPartnerJohannesburg,SouthAfrica T:+27116699348E:[email protected]

ANERIABOUWER PartnerCapeTown,SouthAfrica T:+27214807936E:[email protected]

DANIELGANTUNGO

PartnerKampala,Uganda


BETSIESTRYDOM PartnerJohannesburg,SouthAfrica T:+27116699396E:[email protected]

PATRICIAWILLIAMS



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VIRUSHASUBBAN PartnerJohannesburg,SouthAfrica T:+27116699383E:[email protected]

Toviewprofilesofourlawyers,

pleasevisitwww.bowmanslaw.com

SAMIRELLARY



Tax

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CapeTown


DaresSalaam

T: +255768988640E: [email protected]

Durban


Johannesburg


Kampala


Nairobi


FollowusonTwitter:

@Bowmans_Law

www.bowmanslaw.com

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