Global

Details

  • Service: Tax, International Corporate Tax, Global Indirect Tax, International Executive Services, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 3/4/2013

South Africa - Tax measures included in 2013 budget 

March 4:   A summary overview of certain tax proposals in South Africa’s annual budget, presented on 27 February 2013, reveals the following:
  • No tax increases
  • A substantial increase in fuel levies (an overall increase of 23 cents in April 2013)
  • Reforms to the tax treatment of retirement savings contributions
  • No specific mention of tax proposals for the mining sector, but a review of the general tax policy framework to be implemented that could include a review of mining taxes as well as the current mineral royalty regime
  • An employment incentive to encourage businesses to employ youth
  • Value added tax (VAT) liability of “foreign providers” of e-services (i.e., those providers not necessarily having a fixed or permanent place of business in South Africa)
  • A VAT registration obligation for foreign providers of e-services (music, video, e-books and other e-content) via the internet when consumed in South Africa

Read a February 2013 report prepared by the KPMG member firm in South Africa: KPMG Budget Watch 2013: The National Budget and the National Development Plan




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