South African structurers struggle to meet demand for tax efficiency

brett-duncan
Brett Duncan, Standard Bank

Ongoing changes to the tax regime in South Africa could hurt the development of the country's markets in structured products, exchange-traded-funds (ETFs) and exchange-traded-notes (ETNs), according to industry participants. The February increase in capital gains tax from 10% to 13.3%, for instance, will skew after-tax returns on all capital-gains structured products.

"Significant regulatory changes are taking place that have the potential to influence the landscape of structured products and de

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