Tax
In your interest
2018
2018-03-26
Tax
Knowing the rules makes one a better player

Understanding tax issues is core to any financial services business, which is why we at Crowe Horwath in Southern Africa have a highly respected tax consulting service that is also capable of ensuring that all your tax compliance needs are met.

DOWNLOAD IN YOUR INTEREST 2018

Budget Proposal
Tabled by the Minister of Finance on 21 February 2018:

  • Value-Added Tax
    The standard rate of VAT is increased to 15% (previously 14%) with effect from 1 April 2018.
  • Donations tax
    Donations tax is levied at a rate of 20%. From 1 March 2018 donations in excess of R30 million per tax year will be taxed at 25%.
  • Estate duty
    Estates in excess of R30 million rand will be taxed at 25% with effect from 1 March 2018.
  • Environmental and health taxes
    The health promotion levy, which taxes sugary beverages, will be implemented on 1 April 2018.
    The plastic bag levy, environmental levy on incandescent light bulbs and the vehicle emissions tax will be increased on 1 April 2018
  • Fuel tax
    The fuel levy will be increased by 52c per litre with effect from 4 April 2018.
  • Excise duties
    Ad valorem excise duties on luxury goods will be increased by 2% on smartphones and 5% on motor vehicles. 

Tax Specialists 

Michael McKinon 300x300_edited
Michael McKinon
Director
Horwath Tax Consulting
Reinette Theart 300x300_edited
Reinette Theart 
Director
Horwath Tax Consulting