Pieter Janse van Rensburg | Director | AJM Corporate & International Tax Consultants | mail me |
Wednesday’s emergency Budget speech will be crucial for businesses and individuals struggling under the weight of the Covid-19 pandemic.
While it is hoped some clarity on relief measures will be provided, we caution that hopes to expand the corporate tax base will prove very challenging.
In this podcast I explain why two prior proposals to expand the corporate tax base may now need to be put on ice – the restriction on the offset of assessed losses carried forward to 80%, and the proposed scrapping of some business incentives. The one that may still be on the cards is the proposed limitation on interest deductions on loans from foreign entities.
[…] Click here to hear AJM Director Pieter Janse van Rensburg discuss the upcoming emergency Budget and explain why some of the prior plans to expand the corporate tax base may have to be placed on ice. […]