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Update - South Africa 2020 Tax Amendment Acts

02 February 2021

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Approved Changes

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South Africa

As previously reported, South Africa's 2020 tax amendment acts were published in the Official Gazette on 20 January 2021. The amendments provided in the main amendment acts are summarized as follows: For rates in particular, the Rates and Monetary Amounts and Amendment of Revenue Laws Act (22 of 2020) includes the following: The rates of normal tax on taxable income of natural persons are as follows for any year of assessment commencing on or after 1 March 2020: up to ZAR 205,900- 18% over ZAR 205,900 up to 321,600- 26% over ZAR 321,600 up to 445,100- 31% over ZAR 445,100...