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n Without Prejudice - Shipping tax exemption : shipping law tax

Volume 14, Issue 6
  • ISSN : 1681-178X
USD

 

Abstract

A new South African international shipping tax regime was introduced from April 1 2014 and applies to years of assessment commencing on or after that date. Section 12Q of the Income Tax Act (58 of 1962) provides qualifying domestic shipping companies (defined as ) with exemptions from income tax, capital gains tax, dividends tax and withholding tax on interest paid to a non-resident (once effective). In particular, s12Q(2)(a) of the Act provides that any income of any must be exempt from income tax.

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/content/jb_prej/14/6/EJC157200
2014-07-01
2016-12-10

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