Summary of Tax Measures
The Finance Act 2020
Amid the controversies around the fiscal measures announced in the National Budget 2020, the much awaited Finance Act 2020 is finally out. We are pleased to note that Dr the Hon Renganaden Padayachy, Minister of Finance, Economic Planning and Development, has taken into account the comments made by the industry and reviewed the position on certain measures, such as the solidarity tax on companies with a turnover greater than Rs500 million, and tweaked the solidarity levy for individuals.
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