Tax
From The Report: South Africa 2014
View in Online Reader

In conjunction with SizweNtsalubaGobodo, OBG explores the taxation system, examining South Africa’s investor-friendly environment. OBG talks to Kemp Munnik, head of taxation services at SizweNtsalubaGobodo, on relevant regulations for investors.

Articles from this Chapter

Overview

An overview of tax-related legislation for investors
OBG
plus

Taxes that are 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. 1.1 Income Tax South Africa has a residencebased income tax system which in practice means that: • A resident’s worldwide taxable income is subject to…

Viewpoint

Kemp Munnik, Head of Taxation Services, SizweNtsalubaGobodo, on relevant regulations for investors
OBG
plus

Foreign investors should thoroughly plan before they invest in South Africa. Once they have done that, it should be a smooth process, as the country’s tax system is among the most developed in the world. South African residents are taxed on their worldwide income. Non-residents are taxed only on their South Africansourced income. A company is considered a South African resident if it is incorporated or has its place of effective management in South Africa. An individual is considered a resident…