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Daily Tax Report: International

South Africa Gazettes Laws Implementing 2019 Budget

Jan. 21, 2020, 5:00 AM

The South African Official Gazette Jan. 15 published three laws implementing 2019 budget measures. The laws include measures: 1) reducing the comparable tax exemption for controlled foreign companies to 67.5 percent from 75 percent; 2) limiting the allowable deduction on investments in venture capital companies; 3) amending anti-avoidance rules for dividend stripping, applicable to arrangements entered into on or after Feb. 20, 2019; 4) simplifying reporting obligations for foreign entities claiming tax benefits on royalty and interest payments under DTAs; 5) amending the real estate investment trust regime to align with corporate reorganization rules; 6) updating the tax treatment of...

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