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South africa 2014 budget announced

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The South African Finance Minister has recently presented the Budget for 2014. Significant measures include those for education, health and spending programmes as well as changes to tax measures, …

The South African Finance Minister has recently presented the Budget for 2014. Significant measures include those for education, health and spending programmes as well as changes to tax measures, reports Nair & Co.’s International Services team.


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  • 1. South Africa - 2014 Budget Announced (Bristol, UK) - The South African Finance Minister has recently presented the Budget for 2014. Significant measures include those for education, health and spending programmes as well as changes to tax measures. A number of tax measures are intended to encourage and assist small and medium enterprise, reports Nair & Co.’s International Tax team. General tax measures include:  Corporate and Indirect Tax:  Clarification on valuation of company car benefits for tax purposes.  Updates to certain VAT input tax rules.  Changes to limits on deductions for interest in case of reorganizations and acquisitions.  Changes to certain R&D tax incentives.  Tax reliefs for debt reduction strategies.  Extension of contributed tax capital roll-overs to cases where conversion of deferred shares into ordinary shares take place.  Personal:  Various personal income tax reliefs.  Measures to control household debts. Nair & Co. advises companies with operations in South Africa to carry out a detailed analysis to assess actual impact. For more information about doing business overseas or to learn more about our International Expansion Services team please contact us. Subscribe to regular global tax compliance alerts from Nair & Co.
  • 2. Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts. About Nair & Co. Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com Media Contacts: For media enquiries or to learn to more about Nair & Co., please email us at media@nair-co.com or call Yvonne Smith at +1.408.501.8867