Interest Rates April 2022
Tax, VAT, Fringe Benefits, Loans, Donations Tax and Dividends Tax
The SARS official interest rate has been increased and is detailed in the updated document. Click here to download.
It is important to remember that interest and penalties paid to SARS are not deductible expenses for income tax purposes. On the other hand, interest received from SARS is fully taxable (after deducting the current initial exemption of R23 800 per annum (R34 500 if you are 65 or older) for all local interest income earned by natural persons).