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n Personal Finance Newsletter - Uncompetitive tax? : TAX

Volume 2016, Issue 421
  • ISSN :
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Abstract

GENERALLY, IF a South African taxpayer sells shares in a foreign company, they will be hit with Capital Gains Tax (CGT) on any gain realised on that sale. However, SA provides exemptions from this CGT in certain circumstances one of which relates to the sale of foreign shares. Providing taxpayers with tax exempt treatment on disposals of certain foreign shares held by them is common practice globally, and available in many jurisdictions. The primary aim of the exemption is to make the seller's country 'investor friendly' and to avoid double taxation, since the country in which the foreign company being sold may well also seek to tax the gain on sale.

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/content/monpf/2016/421/EJC184205
2016-02-01
2016-12-10

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