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South Africa Publishes 2020 Draft Tax Amendment Bills and Others for Public Comment and Proposed Extended COVID-19 Tax Relief

05 August 2020

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Proposed Changes

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South Africa

South Africa's National Treasury has published the draft tax amendment bills to give effect to the 2020 Budget for public comment, as well as draft regulations prescribing electronic services and a Venture Capital Company survey. Further, proposals have been made to extend certain COVID-19 tax relief. Draft Budget Bills The proposals contained in the draft bills are summarized in the Treasury media statement as follows: Key tax proposals contained in the 2020 draft Rates Bill include: Changes in rates and monetary thresholds to the personal income tax tables; Adjustment of transfer duty rates to support the property market; and Increases...