Volkswagen CEO Herbert Diess Urges German Government to Stop Subsidizing Fossil Fuels: Prospects after the IAA Mobility

At the world’s largest mobility trade show, IAA Mobility 2021, which took place from 7th-12th September in Munich, Volkswagen CEO Herbert Diess urged the German government to stop subsidizing fossil fuels to foster the decarbonization of the automotive sector and accelerate the energy transition. In his keynote speech ‘Decarbonization as a chance’, Diess particularly emphasized that political action and power are indispensable to achieve these goals and limit human-driven climate change. Whereas chancellor Angela Merkel opened the exhibition announcing that the German government will invest €150 billion into e-mobility until 2025, the German government has yet to answer why it subsidizes the fossil fuel sector with €37.5 billion a year.

South African Revenue Service (Sars) Implements New Rules for the Customs and Excise Client Accreditation

The South African Revenue Service (SARS) is established in terms of the South African Revenue Service Act 34 of 1997 as an autonomous agency, which is responsible for administering the South African tax system and customs service. SARS recently implemented new rules under section 64E of the Customs and Excise Act No.91 of 1964 (“the Act”).  The old Rules which provided for accredited client status have been repealed in their entirety and replaced by a new set of Rules. This new set of rules became effective on 23 July 2021.

CBN Guidelines for the establishment and operation of a Payment Service Holdco

On 3 August 2021, the Central Bank of Nigeria (CBN) issued new guidelines (the Guidelines) with the aim to further regulate and set up a licensing regime for the establishment and operation of a payments-service holding company (PSHC) in Nigeria. Background In December 2020, the CBN had issued a circular on categorisation, with regards to…

Mauritius Offers a Plethora of Schemes and Facilities for the Entertainment Industry; Recently Premiered Netflix Film, “resort to Love” Entirely Filmed in Mauritius

Mauritius does not only offer beautiful scenery for film production but offers ‘The Mauritius Film Rebate Scheme’ which is a project of the Economic Development Board (EDB), in association with the Mauritius Film Development Corporation (MFDC).