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Tax Rates South Africa

Hogan Lovells

Expected changes to environmental taxes

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In the National Budget Speech delivered on 20 February 2019, it was announced that National Treasury will publish a draft Environmental Fiscal Reform Policy Paper in 2019 in an effort to reform existing environmental taxes...more

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Carbon tax in South Africa

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Reasons for the implementation of a carbon tax in South Africa - Carbon tax seeks to give effect to the polluter pays principle by ensuring that the real cost of greenhouse gas (GHG) emissions to the environment and...more

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The VAT treatment of cryptocurrencies

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Although no VAT will be levied on any cryptocurrency, the income tax treatment of cryptocurrencies must be considered separately. New draft tax legislation was released by National Treasury on 16 July 2018 for comment. A...more

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Some practical considerations regarding carbon tax

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Carbon tax seeks to give effect to the polluter pays principle by ensuring that the real cost of greenhouse gas (GHG) emissions to the environment and society are explicitly incorporated into the prices of carbon intensive...more

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The VAT increase and its implications for business

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In the Budget Speech delivered on 21 February 2018, Minister Malusi Gigaba announced the controversial increase in the VAT rate from 14% to 15% with effect from 1 April 2018. This is the first VAT increase in 25 years and is...more

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Budget 2018

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The 2018 tax proposals are projected to raise ZAR36 billion. The key changes announced are: Donations tax will increase to 25% in respect of any donations exceeding ZAR30 million. There have been no increases in the corporate...more

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Disposal of shares by non-residents: Gaining the capital perspective

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Capital gains tax (CGT) was introduced to the Income Tax Act (the Act) on 1 October 2001. The basis from which it operates is that if a capital asset is sold at a profit, the profit is subject to CGT, and if it is sold at a...more

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The decision is in, and South Africa will soon tax the sugar content of beverages

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Following the 2016 budget speech during which the proposal to tax the sugar content of beverages was first tabled, and after 18 months of vigorous debate, the South African Parliament on Tuesday adopted the taxation of sugary...more

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Davis Tax Committee report

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The Davis Tax Committee (the Committee) released a further report on "Tax Administration" on 13 November 2017 as part of the final six reports that were deliverable by the Committee. ...more

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Sugar tax

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SARS has issued for comment by no later than 30 November 2017 draft rules relating to the health promotion levy imposed on sugary beverages manufactured in or imported into South Africa. ...more

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If You Have A Sweet Tooth, It Might Cost You More Than Just A Trip To The Dentist

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The South African treasury delays the imposition of "sugar tax" During the 2016 budget speech, then South African Minister of Finance, Pravin Gordhan, announced the proposal to tax the sugar content of beverages, and...more

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Potential wealth tax

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The Davis Tax Committee (DTC) has issued a media statement calling for submissions by 31 May 2017 on the potential imposition of a wealth tax. The Minister of Finance established the DTC in 2013 to inquire into the role of...more

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CHECKMATE: South Africa's credit rating downgraded to "junk status"- what this means for South Africa

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In a catastrophic moment for South Africa, credit rating agency Standard and Poor (S&P) downgraded South Africa's credit rating to "junk status". S&P cut South Africa's credit rating by one notch to BB+, which is S&P's...more

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Budget 2017

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The 2017 Budget was presented by Minister Pravin Gordhan before Parliament on 22 February 2017. The 2017 tax proposals are projected to raise ZAR28 billion, and increase the tax burden from 26% of GDP in 2016/17 to 26.7%...more

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