THE PROPOSED SUSPENSION OF SECTION 45 OF THE INCOME TAX ACT (INTRA-GROUP TRANSACTIONS)

Friday, June 10, 2011
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On 2 June 2011, National Treasury released the Draft Taxation Laws Amendment Bill 2011 for public comment (“the Bill”). Amongst the various amendments giving effect to the 2011 Budget Review tax proposals, the Bill also contains anti-avoidance measures one of which includes a proposed “suspension” of section 45 of the Income Tax Act with immediate effect.

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