South Africa has a complex and ever-changing tax system. Business owners and attorneys need to be up-to-date on the latest changes in order to make sound business decisions. This blog post will provide an overview of the applicable tax law in this area, as well as some recent changes. Stay tuned for future posts that will go into more detail about specific aspects of it. What is the system of South Africa taxes ? The system is complex, with a number of different taxes levied on different types of income and expenditure. The mains are income tax, value-added tax (VAT), and company tax. The income is levied on individuals and companies. Its rate depends on the amount of taxable income, with rates ranging from 18% to 45%. VAT is a consumption tax that is levied on most goods and services. The standard rate of VAT is 14%, although a number of items are exempt from VAT. Company tax is levied on profits made by companies. Its rate is 28%. There are a number of other South African...
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