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.

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.
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