Tax
From The Report: South Africa 2016
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In conjunction with SizweNtsalubaGobodo, OBG explores the taxation system, examining South Africa’s investor-friendly environment. OBG talks to Victor Sekese, CEO, SizweNtsalubaGobodo, on new tax rules.

Articles from this Chapter

Overview

Duties explained: A look at the country’s tax regulations for investors
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Taxes levied by the national government of South Africa under the Income Tax Act 58 of 1962 (the Act) include the following: Normal tax also known as income tax; Provisional tax, which forms part of income tax; Capital gains tax, which forms part of income tax; Withholding tax on royalties; and Dividends tax. 1. Income Tax South Africa has a residence-based income tax system which has the effect that: A resident’s worldwide taxable income is subject to income tax…

Viewpoint

Sense in incentives: Victor Sekese, CEO, SizweNtsalubaGobodo, on new tax rules
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As the global economic environment challenges businesses and gives rise to acute unemployment, there is a growing need for governments to find more innovative ways of attracting investors. In South Africa there are several tax incentives and allowances geared to attracting investment and promoting employment creation. The Employment Tax Incentive (ETI) came into effect on January 1, 2014 and will end on December 31, 2016. The trade union movement argued that the ETI would encourage employers to…