What are the other taxes applicable to South Africa?
South Africans are subject to various taxes in addition to the commonly known taxes like income tax and value-added tax (VAT). These other taxes play a crucial role in the country’s revenue generation and are essential for maintaining public services and infrastructure functioning. By diversifying the tax base and targeting specific economic activities, these taxes ensure a fair distribution of the tax burden and help fund critical initiatives and services.
At HTCO Group, our dedicated team of tax specialists and chartered accountants are here to assist you with a wide range of tax services, ensuring compliance and maximizing tax efficiency. In addition to our core services, we offer specialized assistance in various other tax areas.
Why choose HTCO to handle your other tax obligations?
Here are some of the other taxes South Africans are liable for:
Capital Gains Tax (CGT)
Capital gains tax is levied on profits from disposing of certain assets, such as property, shares, and businesses. Our expert team can guide you through the complex CGT regulations, helping you calculate your capital gains, determine exemptions and deductions, and ensure compliance with reporting and payment requirements.
Dividends Tax
Dividends tax is applicable when dividends are declared and paid to shareholders. It is crucial to correctly calculate and withhold dividends tax to fulfil your tax obligations. Our professionals can assist you in understanding the dividends tax rules, managing withholding obligations, and preparing accurate tax returns.
Donations Tax
Donations tax is imposed on the transfer of property or assets without consideration, or when a person donates money to an organisation. Donations tax of 20% will be levied on any amount donated above the R100 000 annual threshold and increases to 25% on the cumulative value exceeding R30 million. It is important to understand the tax implications when making donations and the obligations of the donor and done. Our team can help you navigate the complexities of donations tax and the related compliance requirements.
Securities Transfer Tax (STT)
Securities transfer tax is applicable when there is a transfer of shares or other securities. Our experts can assist you in understanding the STT regulations, ensuring compliance with reporting and payment obligations, and optimizing your transactions to minimize the impact of this tax.
Registrations and deregistration of taxes
We understand that dealing with tax registrations and deregistrations can be time-consuming and daunting. Our team can handle the entire process for you, whether you need to register for various taxes or deregister due to changes in your business structure or operations. We ensure accurate and timely submissions to relevant tax authorities, allowing you to focus on your core business activities.
Tax clearance certificates
Tax clearance certificates are often required for various business transactions, including tenders, contracts, and foreign investments. Our professionals can assist you in obtaining tax clearance certificates, ensuring that all your tax affairs are in order and that you meet the requirements.
