January/February 2017  
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Derivatives & Financial Instruments
 
This free e-mail service informs you about the contents of the forthcoming edition of Derivatives & Financial Instruments.

Issue No. 1 - 2017 of the Derivatives & Financial Instruments is now available online.

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Other publications and courses available on Taxation of Financial Instruments:

[Conference]
9th Latin American Regional Congress
31 May-2 June 2017
Buenos Aires
> Read more

[Course]
International Taxation of Banks and Financial Institutions
15 November 2017
Amsterdam
> Read more

Number 1 - 2017 contains the following:
ARTICLES
International
Innovative Finance in Africa: Tweaking Old Tools and Shifting the System
Katusha de Villiers

 

International
Financial Market and Taxation Issues in Africa
Steven Evers and Natascha Korvinus

 

International
Impact Bonds: Innovative Finance to Improve Aid Effectiveness in Africa
Emilie Dussauge
As the nature of development assistance and financial flows to Africa evolves, impact bonds – a form of results-based financing which works with private investors to fund social programmes – have the potential to improve the quality and efficiency of programme delivery in Africa to maximize social impact.
Kenya
Tax Incentives for Venture Capital
Bosire Nyamori
The author examines the tax regime for venture capital in Kenya, with particular focus on the concessions under the Income Tax Act and the importance of SMEs for the Kenyan economy. He analyses the regulatory framework for venture capital and addresses tax provisions that have a bearing on venture capital transactions.
Morocco
Moroccan OPCIs: A Boost for the Real Estate Sector?
Kamal Himmich and Nassym Hajoui
Moroccan law now provides for new vehicles dedicated to investment in real estate, with a view to attracting more funds to a strategic sector that has been undergoing difficulties in the past few years. Moroccan collective undertakings for investment in real estate (organismes de placement collectif en immobilier, OPCIs) are widely inspired by their French homonyms from a tax and legal perspective, although local specificities should be borne in mind.
Luxembourg
Is Luxembourg a Tax-Efficient Platform for Investing in Africa?
Josselin Badoc
Investors that foresee carrying out several investments in various African jurisdictions may wish to centralize their investments via a specific financing platform, either existing or to be implemented. When it comes to determining which country would be suitable for that purpose, Luxembourg is – in the author’s opinion – if not the best-suited place, at least a very appropriate location to consider.
International
African Experiences of a Dutch Bank Aiming for the Rural Masses
Kees Verbeek
The author discusses the experiences of Rabobank’s expansion into the African continent, including challenges faced and opportunities available.
South Africa
BEPS and Increased Tax Transparency Elevate Tax to Corporate Social Responsibility Status in South Africa
Marcus Botha
The recent publication of the King IV™ report introduces formal tax governance with a level of tax scrutiny not seen before. The Report shifts the focus of tax management from basic compliance to comprehensive management, societal value created, and communication in annual and integrated reports.
INTERNATIONAL TAXATION OF FINANCIAL INSTRUMENTS