On 27 October 2015, South Africa's Minister of Finance Nhlanhla Nene introduced in the National Assembly the 2015 Taxation Laws Amendment Bill (TLAB) and the Tax Administration Laws Amendment Bill (TALAB).
Some of the main measures of the 2015 TLAB include:
- Relaxing capital gains tax rules applicable to the cross issue of shares and introducing counter measures for tax-free corporate migrations; and
- Withdrawing special foreign tax credits for service fees sourced in South Africa.
Some …