This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
South Africa Completes Dividend Tax Reform,
by Robert Lee, Tax-News.com, London
Monday, February 16, 2009
South African Finance Minister Trevor Manuel announced as part of his 2009 budget speech on February 11 that the basic legislative framework for the introduction of the new dividend tax has been completed.
The legislation providing for the dividend tax, which replaces the secondary
tax on companies (STC), was enacted in 2008, and will come into force once South
Africa has ratified a number of renegotiated tax treaties. However, the government
has still not fixed an implementation date for the new tax, and Manuel said
that it is "likely" to come into force during the latter half of 2010.
Under the dividend tax regime, local individual taxpayers will be taxed at 10%;
domestic retirement funds, public benefit organisations and domestic companies
will be exempt; and foreign persons will be eligible for tax-treaty benefits (i.e. a
potential reduction to a 5% rate).
The tax also provides for transitional credits, so that tax paid
under the secondary tax on companies can be used to offset the dividend tax. The legislation also contains a mechanism under which the paying company (or paying
intermediary) withholds the tax.
Further legislative amendments are expected during 2009, which, according to Manuel, will provide
for the completion of the dividend tax reform. The remaining items mostly relate
to anti-avoidance concerns (such as preventing companies from converting taxable
sales to tax-free dividends) and to foreign dividends.
Other major announcements in the budget included: personal income tax relief
worth ZAR13.6bn (USD1.35bn); a delay in the implementation of new mineral and
petroleum royalties until March 1, 2010; incentives for investments in energy-efficient
technologies; improved tax treatment for emissions credits; reform to vehicle
excise duties; an increase in 'sin' taxes; an air passenger departure tax and
a review of motor vehicle travel allowances. The main rates of income tax were
left on hold.
One of the web's largest and
most authoritative business and investment information sources. Alongside
topical, daily news on worldwide
tax developments, you can receive weekly newswires or
access up-to-date intelligence
reports on a range of legal, tax and investment subjects.
Our 16 constantly updated
intelligence reports cover every important aspect of 'offshore' and international
tax-planning in depth, including banking secrecy, the EU's savings tax
directive, offshore funds, e-commerce, offshore gaming and transfer pricing.
Reports are available for immediate downloading or as subscription
services with news pages.
Advertising & Marketing
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising,
sponsorship and marketing opportunities:
Display advertising - from 'skyscrapers' to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Could your corporate web-site or newsletter benefit
from incorporating regularly updated news and content
tailored to serve your clients' interests? We can provide
a variety of maintenance-free news and content solutions
that can be seamlessly integrated and dynamically delivered:
Click here for a brief introduction
to RSS and instructions on how to get the Tax-News feed.
IMPORTANT NOTICE: THE LOWTAX NETWORK has
taken reasonable care in sourcing and presenting the information contained on
this site, but accepts no responsibility for any financial or other loss or damage
that may result from its use. In particular, users of the site are advised to
take appropriate professional advice before committing themselves to involvement
in offshore jurisdictions, offshore trusts or offshore investments. All materials
on this site copyright THE LOWTAX NETWORK 1999 to 2010. Contact
us for further information.
TAX-NEWS.COM
Free Tax-News Feed