The South African tax legislation related to share incentives has changed dramatically in recent years. Essentially, all of the gains accruing to employees from “restricted” equity instruments are now subject to income tax.
The ability to act according to an order, set of rules or request.
Level 1 – compliance with the external rules that are imposed upon an organisation as a whole
Level 2 – compliance with internal systems of control that are imposed to achieve compliance with the externally imposed rules.