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.