At Naspers, there is zero tolerance for non-compliance with tax laws in all jurisdictions in which our businesses find themselves. All Rights Reserved Should you elect Prosus shares, which is the outcome if you take no action, you will likely trigger a capital gains tax liability. But in truth many South African shareholders will be grateful for the unscheduled delay of three months in the listing date. A: Trading in Prosus N Ordinary Shares (Prosus N Shares) issued under the Naspers M Share Capitalisation Issue will commence at 09:00 (CEST) on Euronext Amsterdam and at 09:00 (SAST) on the JSE, on Wednesday, 11 September 2019 on an "as-if-and-when-issued" basis and the
On this site, you will find information about our vision on tax, tax contributions and other relevant information on the subject of Tax.
Jasper Jansen, an analyst at the Dutch shareholders rights group VEB, said he applauded the arrival of Prosus.Prosus’ net profit ended up being $4.25 billion, thanks to a $1.6 billion windfall on its sale of a 10% stake in Flipkart to Walmart.The indicative price is based on Naspers’ closing price in Johannesburg, with trading in Prosus set to start on Wednesday morning in Amsterdam.Prosus accounts for its Tencent stake as an “equity accounted investment”, which added $3.41 billion euros to 2019 pre-tax profit.The spin-off in Amsterdam marks the end of an era for Naspers as it looks to move beyond the legacy of former Chief Executive Koos Bekker’s prescient investment of just $34 million in Tencent when it was a startup in 2001, one of the most lucrative bets in corporate history.However, he criticized Naspers’ decision to maintain a two-class share structure system which gives its biggest shareholders extra voting rights in some circumstances.“We believe Prosus will present a new and attractive opportunity for global tech investors to access our unique portfolio of internet businesses, providing a strong foundation for our future growth plans,” said CEO Bob van Dijk.Naspers will retain a stake of about 25% in Prosus, with the other 25% distributed to Naspers shareholders and making up the free float.“We love the fresh blood - finally there’s a real company listing here that’s active in the new economy,” he said.Prosus also has stakes in fast-growing food delivery, social media, and payments companies in China, India, Brazil and Russia. SARS is far too dumb to attack you on this-and they will probably fail.
They are required to make a choice between taking up shares in Prosus, the new European-listed business that will hold Naspersâ non-SA investments, including its stake in Tencent, or taking up additional Naspers shares. How to avoid the Naspers / Prosus capital gains tax event this financial year. Naspers’ approach to tax Naspers aims to contribute positively to the communities within which it operates. Opting for extra Naspers shares instead, avoids the tax, but leaves them a stock likely to trade at even bigger discounts to its underlying assets because Naspers will become the holding company of a holding company.Listen to the story of Cyril Ramaphosa's rise to presidential power, narrated by our very own Alec Hogg.The world is changing fast and to keep up you need local knowledge with global context. I favour this approach as none of us know where Newco will trade.
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