In 2015, South African growth should benefit from a slight recovery in foreign demand, due notably to more buoyant economic activity in the EU.
South Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors and a stock exchange that is the 16th largest in the world. Even though the country’s modern infrastructure supports a relatively efficient distribution of goods to major...
Annual growth in GDP fell to 1.5% in 2014, but is expected to rebound to 2.0% in 2015, as the large rand depreciation may stimulate an export-led recovery and the global economy gradually improves.
The latest DB Report (2013) ranks South Africa 39, out of 185 countries surveyed. South Africa was the second easiest African country to do business in, after Mauritius twenty (20) places ahead.
RATES OF TAX FOR INDIVIDUALS
The Sales Tax Rate (VAT) in South Africa stands at 14 percent.
VAT is presently levied at the standard rate of 14% on the supply of most goods and services and on the importation of goods. The VAT on the importation of goods is collected by customs. There is a limited range of goods and services which are subject to VAT at...
The Personal Income Tax Rate in South Africa stands at 41 percent. Personal Income Tax Rate in South Africa averaged 40.08 percent from 2004 until 2015, reaching an all time high of 41 percent in 2015 and a record low of 40 percent in 2005. Personal Income Tax Rate...
This World Bank site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in South Africa.
If you’re setting up a private company ((Pty) Ltd), you need to register your company as a legal entity. All the information you require can be found at the Companies and Intellectual Property Commission (CIPC) website. (www.CIPC.co.za)