Current News

VAT

·          VAT standard rate to be increased from 10% to 12%.

·          VAT threshold to be increased from P250 000 to P500 000.

·          The changes effect from 1st  April 2010.

INCOME TAX

·          The two tier system [15% basic tax and 10% Additional Company Tax] is to be abolished.

·          Company Tax will be a single rate of 25%.

·          Withholding tax rate to be reduced from 15% to 7.5% for both resident and non-resident.

·          The changes effect from 1st  July 2010.