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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>The second draft of the proposed Mineral and Petroleum Royalty Bill is expected to be available for public comment during the first half of 2005, with submission to Parliament before the close of the year, according to Finance Minister Trevor Manuel.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>Minister of Finance Trevor Manuel has unveiled reductions in personal income tax totalling R6,8-billion for the 2005/06 financial year as part of the government’s 2005 Budget. Outlining Budget proposals in Parliament on Wednesday, Manuel said the reductions will benefit taxpayers across all income brackets.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>The South African government has collected R11-billion more than it originally budgeted for in the 2004/05 financial year, due largely to higher-than-forecast receipts from personal income tax and value-added tax, according to South African Finance Minister Trevor Manuel.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>There was no need for further relaxation in foreign exchange controls on individuals or companies as no-one had been to the Treasury to request that the limits be raised, according to Finance Minister Trevor Manuel. Currently individual limits are set at R750Â 000, while pension funds can only invest 15% of their assets outside South Africa and unit trusts are limited to 20%.
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/ 23 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>As part of its broader initiative to encourage and support small-business development, the South African government has granted further income tax relief for the sector in the 2005 Budget, as well as extending the category of eligible small businesses to include personal services and manufacturing.
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/ 22 February 2005
<img src="http://www.mg.co.za/ContentImages/197779/special_rep_icon_template.gif" align=left>The cost of an average pack of 20 cigarettes in South Africa is likely to experience a 52c rise in excise duty from Wednesday, when Minister of Finance Trevor Manuel unveils the government’s 2005/06 Budget, according to the Tobacco Institute of South Africa (Tisa). The retail price of a pack of cigarettes should rise by 70c.
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/ 22 February 2005
Food and furniture retailer Shoprite has reported a 55,4% rise in its headline earnings per share for the six months ended December 2004, to 60,6 cents from 39 cents a year earlier. The group said it envisages declaring an interim dividend of 22 cents per share, representing a 33,3% increase on the 16,5 cents declared at the interim stage in 2004.
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/ 18 February 2005
Banking group Mercantile Lisbon has seen its headline loss for 2004 widen by 3,8 times over that of 2003, at R213,8-million from R56,5-million a year earlier. The group’s headline loss per share came in at 11,7 cents, up from 6,6 cents in 2003, and no dividend was declared.
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/ 18 February 2005
VSNL, part of India’s Tata Group and represented in South Africa by Tata Africa Holdings, will not be paying any set price for its 26% stake in the entity owning 51% of South Africa’s second national operator (SNO), according to Communications Minister Ivy Matsepi-Casaburri.
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/ 18 February 2005
The South African government will not be pursuing a way of cushioning spikes in the oil price for consumers any time soon, according to Minister of Minerals and Energy Phumzile Mlambo-Ngcuka. She was addressing the media on Friday during Parliament’s media briefing week in Cape Town.