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South Africa made a major tax change at the start of January – here’s what you should know Subscribe From 1 January 2021, there is no longer a prohibition on loop structures in South Africa. This is a significant exchange control relaxation that will impact many structures for both corporates and individuals, says Peter Dachs, executive at law firm ENSAfrica. A loop structure is essentially an arrangement whereby a South African resident invests in an offshore vehicle which, in turn, invests in South African assets. “Loop structures were previously prohibited on the basis that they created a channel for the direct or indirect export of capital from South Africa,” Dachs said. ....