SOUTH AFRICA - Opposition parties have applauded the latest budget from South African finance minister Trevor Manuel, who has announced a sweeping overhaul of the country's decades-old exchange control regime and a reduction in the retirement fund tax rate from 25% to 18%.
The reduction in the retirement fund tax, introduced in 1996 as an “interim” measure at a 17% rate and then increased to 25%, was greeted with whoops of delight from economists and retirement fund ...
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