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South Africa Income Tax Rates 2015

Individuals (residents and non-residents)

Taxable Income (ZAR)

Tax Rate (%) on each slice of taxable income

Up to 181 900

18

From 181 900 - 284 100

26

From 284 101 - 393 200

31

From 393 201 - 550 100

36

From 550 101 - 701 300

39

Over 701 301

41

Basic Tax Rebate - ZAR 13 257 (ZAR 20 664 if over age 65, ZAR 23 130 if over age 75).

Most trusts (resident and non-resident)
41% flat rate of tax.

Companies

Resident - 28% flat rate plus 15% withholding tax on dividends declared.

Non-resident - 28% flat rate with no tax on dividends declared.

VALUE ADDED TAX (VAT)

14% on the supply of virtually all goods and services. Very few exemptions (e.g. personal use assets). Exports and basic foods vatable at zero rate.

CAPITAL GAINS TAX (CGT) - only taxable in respect of periods after 1 October 2001

Individuals

33.3% of taxable capital gains added to other taxable income.

Companies

66.6% of taxable capital gains added to other taxable income.

Non-residents

Only liable in respect of disposals of South African real estate and business assets.

LOSSES

Deductible off taxable income and may be carried forward (not back) indefinitely for individuals and companies (if such companies do not interrupt their trading activities).

TREATY NETWORK

Currently 79 countries (approximately  12 more being negotiated) plus 8  Tax Information Exchange Agreements (approximately 30 more being negotiated).

WITHHOLDING TAX (if no treaty applicable)

  • Dividends: 15% (with effect from 1 April 2012)
  • Interest: 15% (with effect from 1 January 2015)
  • Royalties: 12% currently (15% with effect from 1 January 2015)
  • Consultancy, Management and Technical Fees: 15% (with effect from 1 January 2016)
  • Remuneration of non-resident entertainers and sportspersons: 15%
  • Capital Gains on disposal of South African Real Estate by non-residents: 5-10% of gross proceeds

Doing Business Abroad - Tax Rates 2015 /2016

 
Albania | Angola | Austria | Azerbaijan | Bahrain | Belgium | Bulgaria | Cameroon | Croatia | Cyprus
Czech Republic | Denmark | Egypt | Estonia | Finland | France | Georgia| Germany | Greece
Hungary | Ireland | Isle of Man | Israel | Italy | Jordan | Kazakhstan | Kenya | Kuwait | Latvia | Lebanon
Liechtenstein | Lithuania | Luxembourg | Malta | Mauritius | Morocco | Netherlands | Nigeria
Norway | Oman | Palestine | Poland | Portugal | Qatar | Romania | Saudi Arabia | Serbia | Slovakia
Slovenia | South Africa | Spain | Sweden | Switzerland | Tanzania | Tunisia | Turkey | Uganda
Ukraine | United Arab Emirates | United Kingdom | Yemen
Contact Us
Kent Karro
Horwath Taxation (Cape) (Pty) Ltd
P O Box 43
Cape Town 8000
South Africa
+27 21 481 7000