n Without Prejudice - STC exemption to expire soon : tax

Abstract

The STC exemption applicable to certain distributions made in the course of, or in anticipation of, the liquidation or deregistration of a company will expire on January 1 2009. The exemption, which applies to the distribution of certain capital reserves and profits that arose before the introduction of STC, takes effect only where specified conditions are met. Companies wishing to avail themselves of the exemption need to navigate carefully through a series of steps and requirements and bear the deadline in mind.