The Minister of Finance presented the Taxation Laws Amendment Bills of 2010 to the National Assembly on 24 August 2010. The Bills will give effect to the tax proposals announced in February 2010. The main proposals in the Bills are as follows: -   Severance packages: Severance packages will qualify for the SAR 300,000 exemption threshold. The preferential tax rates applicable on lump-sum payments out of retirement savings will also apply to severance packages. -   Regional gateway for multinationals: In order to make South Africa a suitable location for multinational enterprises, the Bills propose several measures to remove tax...