Peter Dachs

South Africa

ENSafrica
1 North Wharf Square
Loop Street, Foreshore
Cape Town, 8001

Tel: +27 83 450 7039
Fax: +27 21 410 2555

Email: pdachs@ENSafrica.com
Web: https://www.ensafrica.com

Peter Dachs is a director at ENSafrica in the tax department and specialises in financial services, mergers and acquisitions and international tax. In particular, he advises South African corporates and financial institutions on their domestic tax issues in relation to, amongst others, group re-organisations, financing and mergers and acquisitions.

He also provides advice to South African multi-nationals in respect of the South African tax consequences arising from their offshore investments. The scope of advice includes profit extraction mechanisms, controlled foreign company planning and transfer pricing advice. In addition, he advises multi-nationals investing into South Africa in respect of appropriate investment strategies.

He has acted for South African and foreign corporates, South African and foreign banks and South African financial institutions (such as insurance companies). He also provides advice to high net worth individuals in respect of their investments, in particular the tax consequences of South African and offshore trusts.

Peter’s experience also includes advising on exchange control issues in respect of both investments into and out of South Africa.

He jointly leads the firm’s tax department with Bernard du Plessis. He is an editor of The Taxpayer including Meyorowitz on Income Tax. He has co-authored Silke on International Tax, and has co-authored Broomberg’s Tax Strategy. He has held lectures on tax at the University of Cape Town, the University of Stellenbosch and the University of the Witwatersrand.

We provide expert advice in relation to areas of tax, such as:

CORPORATE TAX
  • Structuring of mergers and acquisitions, financing, investment structures, property finance and investment structures and numerous other transactions
  • Corporate restructuring, unbundling, corporate finance activities such as share repurchases, distributions and capital reductions, share buybacks, capital and balance sheet restructuring
  • Project Finance
  • We provide opinions and holistic advice on the interaction between taxation and the legal implementation of transactions
  • Tax due diligence
INTERNATIONAL TAX
  • Expansion/mergers/acquisitions into SA by foreign investors, including advice relating to appropriate financing and investment vehicles and related tax issues
  • Foreign expansion/mergers/acquisitions by South African investors, including advice on all related tax and exchange control issues and consulting with foreign advisors in this regard to ensure seamless and comprehensive tax advice
  • Exchange control issues, including preparation and submission of applications and interaction with the South African Reserve Bank
HUMAN CAPITAL
  • Formation of employee incentive schemes
  • Expatriate tax planning and compliance issues
  • Risk mitigation – ensuring compliance such that a SARS payroll audit can be sustained
  • General tax advice – opinions/assistance with all employment related tax issues
  • Advising high net worth individuals in respect of, inter alia, formation of local and foreign trusts, advising on tax and exchange control matters and advice in respect of estate planning
VALUE-ADDED TAX (VAT)
  • VAT compliance reviews, advice and support
  • VAT training
  • VAT litigation and alternative dispute resolution
  • Advice and opinions on the VAT consequences of agreements, transactions and the optimisation of VAT recovery
  • Assistance with VAT system developments and implementation
  • Cash flow planning
  • Optimisation of VAT positioning in African markets
CUSTOMS & EXCISE AND INTERNATIONAL TRADE
  • Customs and Excise compliance reviews, advice and support
  • Customs and Excise and International Trade training
  • Customs and Excise internal administrative appeals and litigation
  • Advice and opinions on the Customs and Excise consequences of agreements, transactions and business structures
  • Assistance in applying for and defending of unfair trade practice investigations (anti-dumping, countervailing and safeguard) and litigation in this regard
  • Assistance in applying for and defending investigations into customs and excise duty increases or decreases or customs and excise duty refunds, rebates or exemptions, and litigation in this regard
TRANSFER PRICING
  • Assisting clients to perform functional analyses to determine the transactions which may be exposed
  • Transfer pricing adjustments
  • Undertaking economic analysis to determine arm’s length prices for inter-group transactions
  • Implementation of transfer pricing policies
DISPUTE RESOLUTION
  • Assisting and advising on SARS audits, investigations and attending to queries
  • Advising on the powers of SARS and ensuring that taxpayers’ rights are upheld
  • Drafting notices of objection and lodging of appeals, where necessary and managing tax litigation
  • Settling disputes with SARS utilising alternative dispute resolution and other available processes
FINANCIAL SERVICES & FUNDS
  • Advising on, inter alia, preference share investments, debt instruments, derivative instruments, equity finance transactions and fixed income transactions
  • Advising on all aspects of cross-border financing transactions
  • Advising on funds including hedge funds, private equity funds and property funds
AFRICA
    • Pan-African transaction and investment structuring advice for South African and all foreign businesses
    • Working with our African practice to complete risk reviews of African countries, including political, economic, operational, tax, legal and security risk profiles
    • Providing practical in-country advice, including:
      • Tax and regulatory requirements
      • Efficient in-country legal and operating structures
      • Ongoing tax and regulatory compliance requirements
      • Assistance with queries from foreign tax authorities and other regulatory bodies
CHINA
      • Advising Asian businesses investing into South Africa and the region
      • Advising South African businesses investing into Asia
      • Consultation and meetings are available in Mandarin
      • Legal agreements and documentation may be translated into Mandarin on request
GENERAL

In addition to the specialised advisory practice areas listed, we also provide supporting tax services to augment our advice. These include, inter alia, obtaining advance tax rulings from the South African Revenue Service, providing tax compliance services and assistance with implementation of tax advice. We also provide advice in the areas of, inter alia, mining tax, infrastructure, project finance, telecommunications, transport and logistics, sports, entertainment and events, state owned enterprises and public private partnerships.

ENSafrica has established offices and a growing footprint throughout Africa. Its offering to clients is unique, in that it is focused on Africa, and its offices do not operate through a network, nor an alliance, nor a “Swiss Verein”, but as one firm | one team with one brand, made up of people in Africa, working for Africa.

As a law firm based in Africa, ENSafrica has easy access to clients and their markets, and understands the many political, cultural, linguistic and regulatory contexts of African countries.

Whether dealing with the complexity of a multi-jurisdictional project, or the establishment of a start-up business in one African country, ENSafrica’s localised experience and expertise ensures that clients obtain the benefit of scale and scope when doing business in Africa

“Peter Dachs is widely respected as one of the leading lawyers in South Africa for his work in the financial services sector, with an impressive track record on cross-border and international mandates. Clients enthusiastically praise the “immense knowledge” that he possesses in this field.”
Chambers & Partners, 2017