0. PwC Tax Services*, South Africa
Portfolio Committee on Finance Budget 2009 Tax Proposals – Initial Comment February 2009
*connectedthinking
PricewaterhouseCoopers

1. 2009 Tax proposals
The tax systems and economic growth
Contents

2. Budget Proposals – Initial assessment
GENERAL
No major changes proposed – Welcomed!
Correction of technicalities, unintended consequences must be the focus for 2009

3. Budget Proposals – Initial assessment
SPECIFIC COMMENTS
Provisional tax 2nd payment – Dissatisfaction remains
Compound interest on late payment of tax
Interest is already non-tax deductible
New Dividends Tax and change-over from STC
VAT – Place of supply rules

4. The SA Tax system and Economic growth
World-class sophistication
Deductibility of interest on share acquisitions
Administration
Shortened filing season, Provisional tax, STC-DT transition
Future of exchange control

5. PwC Tax Services*, South Africa
Thank you Portfolio Committee on Finance Budget 2009 Tax Proposals – Initial Comment 16 February 2009
*connectedthinking
PricewaterhouseCoopers