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South Africa Taxes

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NEWS
November 3, 1991 | From Reuters
Citizens took to the streets Saturday at the start of a union-backed campaign against the imposition of an unpopular new tax, but fears of fresh violence proved mostly unfounded. Townships were reported tense, and a police officer was killed in an ambush in Soweto as the country geared up for a national strike Monday and Tuesday that promises to be the biggest show of anti-apartheid muscle for months.
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NEWS
March 22, 1992 | From Associated Press
Nelson Mandela said Friday the white government should have consulted the African National Congress before deciding to tax basic foods, and vowed to fight the plan with mass protests. Accusing the government of being insensitive to black needs, Mandela said his ANC must protect the poor from the tax, "even if we destroy the economy." Starting March 31, the government plans to add a 10 percent tax to basic foods such as beans, milk, rice and lentils.
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NEWS
March 22, 1992 | From Associated Press
Nelson Mandela said Friday the white government should have consulted the African National Congress before deciding to tax basic foods, and vowed to fight the plan with mass protests. Accusing the government of being insensitive to black needs, Mandela said his ANC must protect the poor from the tax, "even if we destroy the economy." Starting March 31, the government plans to add a 10 percent tax to basic foods such as beans, milk, rice and lentils.
NEWS
November 3, 1991 | From Reuters
Citizens took to the streets Saturday at the start of a union-backed campaign against the imposition of an unpopular new tax, but fears of fresh violence proved mostly unfounded. Townships were reported tense, and a police officer was killed in an ambush in Soweto as the country geared up for a national strike Monday and Tuesday that promises to be the biggest show of anti-apartheid muscle for months.
BUSINESS
April 28, 1989
Mobil Corp., the largest U.S. company remaining in South Africa, confirmed today that it is pulling out of that country after 90 years and said it is selling its assets to a South African company. The giant oil company's sale to General Mining Union Corp. Ltd. includes a refinery and retail and commercial petroleum-marketing networks. Twelve Mobil-affiliated companies are involved in the sale, doing business in South Africa, Namibia, Botswana, Swaziland and Lesotho. New York-based Mobil would not disclose terms of the deal but said it "exceeds Mobil's estimated present value of its future earnings."
BUSINESS
April 27, 1989 | From Associated Press
Mobil Oil Co., the largest U.S. company remaining in South Africa, is selling its operations at bargain prices to the oil subsidiary of a South African mining conglomerate, newspapers reported today. Mobil representatives in South Africa and the United States declined to comment on the reports. Business Day of Johannesburg quoted "banking and other sources" as confirming the sale of about $400 million in assets for $150 million and said the Mobil properties would be sold in separate deals over a period of time.
BUSINESS
April 29, 1989 | From Associated Press
Mobil Corp., long a proponent of doing business in South Africa, said Friday that it is leaving the racially divided nation after 90 years of business there and will take a net loss of $140 million on the move. The withdrawal of Mobil, the largest American company doing business in South Africa, leaves 135 other American companies still operating there, according to the Washington-based Investor Responsibility Research Center, a not-for-profit association funded by institutional investors.
BUSINESS
June 7, 1989 | From Associated Press
Goodyear Tire & Rubber Co., one of the largest U.S. companies in South Africa, today announced that it is pulling out of the country after 42 years and selling its assets to a South African company. A combination of economic and political factors was responsible for Goodyear's decision to divest itself of its Uitenhage, South Africa, tire and general products manufacturing operation. The business will be sold to Consol Ltd., an industrial subsidiary of Anglovaal Ltd., a South African financial, industrial and mining group.
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