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Income Taxes › South Africa

Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect... more +
Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -
Hogan Lovells

Budget speech 2020

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The 2020 Budget was presented by Minister Tito Mboweni before parliament on 26 February 2020. The tax proposals for the 2020 Budget aim to support a recovery in economic growth, with some relief at the level of personal...more

Hogan Lovells

Budget 2019

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The 2019 Budget was presented by Minister Tito Titus Mboweni before parliament on 20 February 2019. The 2019 tax proposals are projected to raise ZAR15 billion. The key changes announced are...more

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Tax on cryptocurrency transactions: SARS should come to the aid of taxpayers

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The South African Revenue Service (SARS) recently released a media statement indicating that “normal income tax rules” apply to cryptocurrency transactions. ...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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Tax impact of the repeal of the foreign employment income exemption on South African professionals

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The Taxation Laws Amendment Bill 2017 (2017 TLAB) was published for public comment on 19 July 2017. One of the changes proposed is the repeal of the so-called foreign employment income exemption, contained in section...more

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Draft tax legislation for 2017 released

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Following the 2017 Budget presented before Parliament on 22 February 2017, the draft tax legislation for the specific tax proposals was released on 19 July 2017 for comment. Comments should be made by 18 August 2017. ...more

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Waiver of contractual right

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In a binding private ruling published on 2 May 2017, SARS was requested to confirm the income tax, donations tax, capital gains tax and value-added tax consequences of the proposed waiver of a right to receive an annual...more

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Tax and non-executive directors

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In the 2016 Budget Review, the Minister of Finance stated that in terms of the Income Tax Act 58 of 1962 (the ITA) and the Value-Added Tax Act 89 of 1991 (the VAT Act), a non-executive director’s (NED) fees may be subject to...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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Connected persons

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The South African Revenue Service has issued a revised interpretation note relating to "connected persons" for comment by 31 March 2017....more

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