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Income Tax Act 58 of 1962 (as amended)
ActSouth Africa Source: SARS / South African Government
TaxIncome TaxSARSCorporate Tax
Summary (Plain English)
Primary tax legislation in South Africa. Corporate tax rate: 27% (reduced from 28% in 2023). Individual rates: progressive from 18% to 45%. All taxpayers must register with SARS. Residency-based taxation — SA residents taxed on worldwide income. Tax year: March 1 to February 28/29 for individuals. Companies can choose their tax year. VAT rate: 15%. Small Business Corporation tax rates available for qualifying small businesses.
What This Means For You
- • Corporate tax rate: 27%
- • Individual rates: 18% to 45% progressive
- • All income earners must register with SARS
- • SA residents taxed on worldwide income
- • VAT rate: 15%
- • Small business concessions available
Original Source
https://www.sars.gov.zaContent sourced from SARS / South African Government. Always refer to the official document for authoritative text.
Not legal advice. This summary is for informational purposes only. ONIM does not store or republish full legal texts. Always consult a qualified legal professional for advice specific to your situation.