South Africa Parliament considering loosening rules on loan deductibility in controlling relationships

November 5, 2014 Africa, South Africa, Transfer Pricing, What We're Reading

A tax bill tabled in South Africa’s parliament on October 22 proposes taxpayer-favorable changes to Section 23M of the Income Tax Act, which limits interest that can be deducted on loans from a person that is an a “controlling relationship,” with the debtor, notes KPMG in an October report. For details, see KPMG.

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