Bloomberg News

South Africa Plans Tax Law Change on Asset Transfers by November

June 29, 2011

June 29 (Bloomberg) -- South Africa’s National Treasury said it expects Parliament to pass new tax laws by Nov. 30 that will regulate asset transfers within companies.

While the government remains committed to allowing the “tax neutral” movement of assets within companies, it won’t allow “artificial” structures set up for the purpose of tax avoidance, the Treasury said in an e-mailed statement today.

To contact the reporter on this story: Mike Cohen in Cape Town at mcohen21@bloomberg.net

To contact the editor responsible for this story: Nasreen Seria at nseria@bloomberg.net


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