OrbitaxSouth African 2017 Budget Delivered to Parliament including New Top Individual Income Tax Rate and Increased Dividends Withholding Tax Rate
|Proposed Changes|South Africa
South African Finance Minister Pravin Gordhan delivered the 2017 Budget to parliament on 22 February 2017. The main tax proposals are:
- The introduction of a new top personal income tax bracket with a rate of 45% with an overall increase in existing bracket thresholds as follows from 1 March 2017:
- up to ZAR 189,880 - 18%
- ZAR189,881 up to 296,540 - 26%
- ZAR 296,541 up to 410,460 - 31%
- ZAR 410,461…
