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  • Taxation on Business Income
  • Pensions and Annuities Taxation
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  • Tax Number

Category: News

Taxation on Investment Income

Posted on April 2, 2022May 6, 2022 By admin

Dividends and foreign dividendsDividends received by or accrued to a person, whether the person is a resident or a non resident, from South African resident companies are generally exempt from normal tax undersection 10(1)(k)(i). A dividend which is subject to normal tax because of its inclusion in incomeis exempt from dividends tax under section 64F(1)(l)….

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Blog, Education, News

An Overview of South African Revenue Service

Posted on February 21, 2022May 6, 2022 By admin

South African Revenue ServiceThe South African Revenue Service (SARS) is South Africa’s tax collecting authority.Established under the SARS Act as an autonomous agency, SARS is responsible foradministering the South African tax system and customs service.SARS’s responsibilities are to –• collect and administer all national taxes, duties and levies;• collect revenue that may be imposed under…

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Blog, Education, News, south africa

Taxation for Insurance and Mining Companies

Posted on February 3, 2022May 6, 2022 By admin

Insurance companiesShort-term insurance (section 28)The ordinary rules for the determination of taxable income also apply to a short-term insurer.Short-term insurers are allowed to deduct expenditure incurred in respect of their business ofinsurance, premiums on reinsurance and the actual amount of a liability incurred for anyclaims, less any claims recovered. In addition, allowances for unexpired risks,…

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  • Taxation on Business Income
  • Pensions and Annuities Taxation
  • Income Tax
  • Tax Number

The four biggest banking groups in South Africa are Standard Bank Group, FirstRand Ltd (which operates First National Bank), Absa Group, and Nedbank Group. These four banking groups provide more than 80% of banking services in South Africa. National banks have branches across South Africa.

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