South Africa

In South Africa, the corporate income tax (CIT) is levied at a rate of 27%. Companies are required to submit their CIT returns within one year from the end of their tax year. The final payment is due within six months after the company's tax year-end, and estimated CIT payments are made twice a year: the first payment is due during the first six months of the company’s tax year, and the second payment must be made before the end of the year.

Personal income tax (PIT) rates in South Africa go up to 45%. The specific return due date for PIT is determined each year by a government notice, varying according to the taxpayer’s circumstances. Provisional taxpayers are required to make their final payment within six months after the end of the tax year. Additionally, estimated payments are made in two installments, at the end of August and February, respectively.

Withholding tax (WHT) in South Africa is applied at various rates depending on residency status. For residents, dividends are taxed at 20%, while interest and royalties are subject to 0% tax. Non-residents face WHT rates of 20% on dividends, 15% on interest, and 15% on royalties.

Capital gains tax (CGT) in South Africa is levied at different rates for corporations and individuals. For corporations, the headline CGT rate is 21.6%, while individuals are taxed at 18% on capital gains. This tax is charged on the net gains made from the disposal of assets.

South Africa imposes VAT on the sale of goods and services, with the standard rate being 15%. VAT applies to most business transactions carried out domestically, including those involving imported goods. Businesses must register for VAT if their annual turnover exceeds ZAR 1 million. Non-resident suppliers of electronic services must also register once their taxable supplies exceed this threshold. A zero rate applies to certain exports and select supplies, while the standard rate applies to most other goods and services.