Other budget proposals: part one

2008-02-27 00:00

It was a mere week ago when Finance Minister Trevor Manuel presented the 2008/2009 Budget in Parliament. There were numerous proposals mentioned, but as a result of an economy, that has decreased in growth there were no major surprises, with the exception of the decrease in the company tax rate and the increase in the VAT turnover threshold.

The proposed withholding tax will not apply to income tax exempt entities (retirement funds and public benefit organisations). It has also been proposed that there be cascading relief in terms of the withholding tax. This means that the dividends will be taxed when profits are distributed to individuals or non domestic company shareholders.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.

Inside News24

 
/News
Traffic Alerts
There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.