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MPs reject bid to tax infrastructure bonds
The imposition of tax on interest earned from infrastructure bonds would have ended tax-free government securities as other papers attract withholding tax.
Parliament has scrapped National Treasury's plan to impose a five percent withholding tax on interest earned from new infrastructure bonds, citing the need to maintain the attractiveness of the fixed income securities to investors.
The National Assembly's Finance and National Planning Committee has pulled the plug on the plan to tax the special category of government bonds after receiving stakeholder submissions opposing the move.
