In your interest

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.