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SA Film Investors Still Get Tax Boost, Report Reveals

by Carla Johnson, Investors Offshore.com

13 September 2002


The attitude of the South African Revenue Service (SARS) towards film investment has softened, according to a recent report from local daily, Business Day.

Speaking to the newspaper on Wednesday, Doelie de Bruin, from Werksmanns attorneys explained that although many film schemes had abused tax concessions available to investors in the 1980s, leading to a swift crack down by the SARS, the tax authority was now beginning to realise the value of a strong domestic film industry.

Ms De Bruin revealed that the country's tax code still offers a number of tax benefits and allowances for those who choose to invest in films, but explained that the rules governing such concessions are now much more stringent and better defined.

A comprehensive report on favourable film finance tax regimes around the world is available in the Tax-News Reports Shop at http://www.tax-news.com/reportshop/

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