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Welcome to the Tax-News weekly newsletter, carries topical headlines and features on international tax, legal, economics, business and investment issues.




Latest Tax-News Special Feature Budget Review -
South African Budget Ushers In Dividends Tax Reform

Some important pre-announced changes, as well as some other proposals that have come as something of a surprise to taxpayers and tax experts alike, were announced by South African Finance Minister Pravin Gordhan in his 2012 Budget speech last month.


One of the most significant changes is the replacement of the Secondary Tax on Companies (STC) with a dividend tax. While the legislative framework for the dividend tax has been in place since 2009, the government has caused much uncertainty in the business community by subsequently refusing to pin down a date for the completion of the transition. Gordhan confirmed in the 2012 Budget however that the 10% STC will be replaced by the dividends tax on April 1, 2012, although at a rate of 15%, not the 10% rate that had been anticipated.


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Latest Tax News


Portugal's Economic Programme 'On Track'

Following its third quarterly review of Portugal's economic programme, the European Commission, the European Central Bank, and the International Monetary Fund underscored that while the programme is indeed on track, many challenges remain.
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Europe Stands Firm On Emissions Trading Scheme, For Now

The Vice-President of the European Commission told the Aviation Leadership Summit at the Singapore Airshow that the European Union will stand firm on its decision to impose a tax on airlines' emissions, but said the Union is open to constructive negotiations on multilateral alternatives.
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Schäuble Defends 'Constitutionally Necessary' Tax Cuts

German Finance Minister Wolfgang Schäuble has recently underlined the need for a reduction in the fiscal burden on individuals in Germany, to be achieved by the introduction of measures aimed at combating fiscal drift in the country's income tax law.
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GOP Pressurizes IRS On Donations Probes

While the United States Internal Revenue Service has said that it will take no further its investigation into political donations to non-profit organizations, including local Tea Party groups, the Republican Party is continuing to insist that the agency should provide full information about what prompted the audit in the first place.
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Eurogroup Welcomes Greek Completion Of Prior Actions

Luxembourg's Prime Minister and Eurogroup President Jean-Claude Juncker has recently issued a statement on behalf of the Eurogroup, underscoring that the group welcomes the assessment of the Troika that Greece has made sufficient progress in completing the agreed prior actions.
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