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DOWNLOAD IN YOUR INTEREST 2018
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.