(June 6, 2015)

The South African National Treasury intends to publish the full text of the 2015 draft Taxation Laws Amendment Bill for public comment in the first half of July 2015. On June 5, 2015 the South African National Treasury already published an initial first batch of the 2015 draft Taxation Laws Amendment Bill to cover specific provisions that require additional consultation. Written comments are due at the close of business on June 26, 2015. Comments have to be sent by e-mail.

This First batch of the 2015 draft Taxation Laws Amendment Bill is intended to solicit comments on three specific amendments that might require further consultation before it is included in the draft Taxation Laws Amendment Bill to be published in July. It will also serve notice to taxpayers of proposals for earlier effective dates for some of the proposed amendments.

The three specific amendments in the first batch include:

1.      Counter measure for tax-free corporate migrations;

2.      Transitional tax issues resulting from the regulation of the business of hedge funds;

3.      Tax implications of outright transfer of collateral.

Click here to be forwarded to the TAXATION LAWS AMENDMENT BILL, 2015 as available on the website of the National Treasury of the Republic of South Africa.

Click here to be forwarded to the EXPLANATORY MEMORANDUM  ON THE TAXATION LAWS AMENDMENT BILL, 2015 (FIRST BATCH) as available on the website of the National Treasury of the Republic of South Africa.

Click here to be forwarded to a media statement as issued by the South African National Treasury in this respect.

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