Biodiversity offsetting is a conservation strategy that aims to compensate for the negative impacts of development projects on biodiversity by creating or restoring ecosystems elsewhere. It involves calculating the ecological value of an area that will be disturbed or destroyed due to human activities, such as construction, mining, or infrastructure development, and then creating or enhancing similar habitats in other locations to counterbalance the loss.
On 28 April 2023 the Supreme Court of Appeal delivered a reportable Judgment in the matter of Louis N O and Others v Fenwick N O and Others which dealt primarily with the consequences of when a binding offer in terms of section 153(1)(b)(iii) of the Companies Act 71 of 2008 (“the Act”) is rejected, and the interpretation of how this affects s153(4) of the Act.
In the midst of a challenging fiscal landscape in South Africa, where a mounting budget deficit is exacerbated by strained tax collections, the South African Revenue Service (SARS) has taken an uncompromising stance against tax evasion. This intensified approach to revenue collection demands the attention of every taxpayer, prompting a crucial call to action. As your legal advisors, we urge you to stay vigilant and proactive in managing your tax affairs, for the consequences of negligence have never been more severe.
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