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Dividends received MF received a local dividend of R45 350 in respect of a 30% shareholding, which the com-pany has in Lubelo (a South African

Dividends received MF received a local dividend of R45 350 in respect of a 30% shareholding, which the com-pany has in Lubelo (a South African incorporated company). MF also received a foreign dividend of R30 500 from a company which is effectively managed in Sweden where MF owns 14% of the equity shares but holds no voting rights in that foreign company. Calculate the tax liability

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