Why was the Securities Transfer Tax introduced?

The Securities Transfer Tax Act,  No. 25 of 2007 was introduced to replace the two different tax types on securities with a single tax in respect of any transfer of listed and unlisted securities and simplify the administration thereof.                                                                                                                                                                                                           The Stamp Duties Act, No. 77 of 1968, catered for the levying of a tax on the registration of transfer of unlisted securities whereas the Uncertificated Securities Tax Act, No. 31 of 1998, catered for the levying of a tax for the change in beneficial ownership of listed securities. These two pieces of legislation were repealed with effect from 1 April 2009 and 8 January 2008, respectively.

Last Updated: 01/02/2013 12:42 PM     print this page
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