n Without Prejudice - Amendments increase the STC burden on companies : tax

Volume 8, Issue 3
  • ISSN : 1681-178X



The tax proposals in the Budget Speech presented by Finance Minister Trevor Manuel on February 20 contained good news for companies. He announced that the headline company tax rate would be reduced from 29% to 28% and STC will be phased out in 2009 and replaced with a withholding tax on dividends, which will shift the liability for tax on dividends from companies to their shareholders.

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