Category Taxation in South Africa

South Africa Eyes Global Income Tax

July 21, 2017 Taxation in South Africa

Income Tax in South AfricaPRETTORIA – Within 2 years South Africans working overseas will be paying taxes in South Africa on their foreign incomes.

South African taxpayers working overseas may soon see a drastic rise in their tax bill, as tax authorities make moves to begin levying income tax on money earned while working overseas.

The South African Revenue Service released a proposed amendment to the national tax code, which would require any South African taxpayer working outside the country to continue paying income tax on their foreign earnings.

Under current regulations, any South African taxpayer who is out of the country for 183 per year, and meets some pre-set income thresholds will not be required to pay income tax on their overseas earnings.

The proposed legislation does allow for a rebate on the taxe...

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1 Million Tax Returns Filed in S.Africa

July 27, 2016 Taxation in South Africa

PRETORIA – A growing number of taxpayers in South Africa are utilising electronic filing systems to complete their tax returns.

In a press release issued on July 25th the South African Revenue Service (SARS) announced that over the first 21 days of the national tax season a total of 1 016 056 tax returns had been filed.

Of all the tax returns filled between July 1st and July 22nd, a total of 611 453 had been filed via the online e-filing system.

The remaining 404 603 tax returns were filed in person at a SARS branch.

The success of the latest tax season was attributed primarily to efforts by SARS to ease the process of filing taxes, especially via the e-Filing system.

It was further added that support tools such as the Help-you-eFile system has further helped convince people to move to t...

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South Africa Details Sugar Tax Plan

July 11, 2016 Taxation in South Africa

PRETORIA – South Africa’s Treasury has put forward its plan to see sugary drinks slapped with a tax of as much as 20 percent per bottle.

Late last week the Treasury of South Africa published a policy paper discussing the proposed implementation of a tax on the sale of sugar sweetened beverages, as a measure aimed at curbing the spread of obesity and related health issues.

In its policy paper the Treasury suggested that such a tax should be levied on any beverages that contain any added caloric sweeteners, including sucrose, high-fructose corn syrup, or fruit-juice concentrate.

The drinks which would fall under the scope of the tax include soft drinks, fruit drinks, energy drinks, vitamin water, and iced tea, but would not include drinks like natural juices and unsweetened milk products...

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South Africa Will Launch Sugar Tax

February 26, 2016 Taxation in South Africa

PRETORIA – Within one year South Africa will see a new tax on the sale of sugary drinks, despite claims that such measures don’t lead to any health benefits.

On February 25th the Minister of Finance of South Africa Pravin Gordham announced that in 2017 the government will launch a tax on the sale of sugar sweetened beverages.

The tax will be levied on the sale of all sugar-added soft drinks, juices, energy drinks, ice teas, and cordials, from April 1st 2017.

The tax is intended to reduce the consumption of sugar sweetened beverages in order to curb the excessive consumption of sugar in the country.

The rate of the new tax has not yet been confirmed, but previous estimates indicate that a tax rate of 20 percent would raise tax revenues of SAR 450 million per year, and would help reduce th...

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South Africa Sees Successful Tax Season

November 30, 2015 Taxation in South Africa

PRETORIA – South Africa’s push towards electronic filing of tax returns has resulted in faster processing tax returns and payment of tax refunds.

Over the weekend the South African Revenue Service (SARS) announced that at the end of the current tax season approximately 5.94 million tax returns had been filed.

Approximately 4.2 million of the returns were filed by individuals for the 2015 financial year, and approximately 1.69 million of the returns were previously unfilled returns from past tax seasons.

It was noted that the tax authority’s efforts to encourage online filing, are paying off, as now approximately 99.96 percent of taxpayers filed their returns electronically, with only 2 000 returns being filed with paper.

The move to electronic filing has greatly sped up the processing ...

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