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Daily Maverick 168 weekly newspaper.
I didn’t own shares in Rembrandt and there was no particular issue on the go but I had never attended an AGM in person before, so I thought it might be a learning experience. Neither did I arrange beforehand with the company secretary, as I should.
I have to say, the Rembrandt team could not have been nicer. I explained who I was, and they were welcoming to a fault. There were roughly 30 people in the small auditorium, and everybody – I mean everybody, including a group of Japanese investors – was smoking. And I mean really smoking.
South-africaJapanStellenboschWestern-capeJapaneseJohann-rupertTim-cohenNicky-newton-kingDaily-maverickBusiness-dayPay-smart-shoppersBusiness Maverick editor Tim Cohen has recently written critically of the idea of a wealth tax. But, as Dr Dick Forslund pointed out in his riposte to Cohen, the latter was arguing not about a wealth tax but rather about increased marginal rates of income tax on high-net-worth individuals (HNWIs).
The essence of Cohen’s argument is to be found in the following passage: “So, back to Pravin Gordhan’s 2017 wealth tax. It[’s] simple enough; it constituted an increase of the maximum marginal rate – the rate of tax that applies to the top income bracket – from 41% to 45%. He also increased the withholding tax on dividends from 15% to 20%, and limited the adjustments for bracket creep (when salaries rise with inflation but the tax brackets do not).
South-africaMauritiusVirgin-islandsPlettenberg-bayWestern-capeSouth-africanSouth-africansPravin-gordhanDennis-davisDick-forslundEdward-kieswetterTim-cohen