South African assets to largely remain offshore

South Africa believes only 6% of the assets declared under its offshore amnesty will be returned to the country. The South African Finance Minister Trevor Manuel said he expected between R3bn (£261m) and R4bn (£348m) to be repatriated as part of the government's Exchange Control Amnesty Bill. But this is only a small proportion of the R65bn (£5.66bn) that was disclosed to the government by South Africans as having been taken offshore illegally, said Manuel. South Africans were given between 1 June and 30 November 2003 to declare to the South African Revenue Services how much money they ha...