The Budget for 2014-15 was presented to Parliament by the Minister of Finance on 26 February 2014. Details of the Budget regarding direct taxation, which unless otherwise indicated will apply from 1 March 2014, are summarized below. (a) Corporate taxation. Proposals include, with effect from 1 April 2014: - to simplify the requirements for the turnover tax regime and revise the turnover threshold and tax rates; - to replace the tax regime for small business corporations with a tax compliance rebate; - to introduce tax relief measures for companies undergoing business rescue and other forms of debt compromise; - to...