Global Tax Alert | 11 March 2014

Lesotho presents 2014 Budget

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On 20 February 2014, Lesotho’s Minister of Finance, Dr Leketekete Victor Ketso, presented his annual budget for the 2014/2015 financial year. In terms of business and cross-border operations, the budget largely maintains the status quo. The only major change is the removal of an incentive for textile manufacturing intended for export outside the South African Customs Union (SACU). The current zero percent corporate tax rate is removed, meaning that these industries will now be subject to the general 10% rate.

For additional information with respect to this Alert, please contact the following:

Ernst & Young Advisory Services Ltd, Johannesburg, South Africa
  • Keith Engel
    +27 11 772 5082
    keith.engel@za.ey.com
Ernst & Young Advisory Services Ltd, Bloemfontein, South Africa
  • Emile Du Toit
    +27 51 406 3516
    emile.dutoit@za.ey.com

EYG no. CM4247