On 12 September 2007, the South African Revenue Service published on its website the Draft Revenue Laws Amendment Bill, 2007, together with the accompanying Explanatory Memorandum, for comment by 8 October 2007. Highlights are summarized below. Further details, when available, will be subsequently reported. Adjustments to base for Secondary Tax on Companies The STC rate on dividends will be reduced from 12.5% to 10%. Other proposed measures include/involve: -   simplifying STC intra-group relief; -   anti-distribution stripping (pre-sale extraordinary dividends); and -   capital distributions. Disposal of shares – capital gains It is proposed that gains from the disposal...