Daily Tax Report: International
January 25, 2022 at 5:00 am
The South African government published Laws No. 19/2021, 20/2021 and 21/2021 amending the Tax Administration Acts online on 19 January. The law includes measures: 1) providing tables of revised individual income tax rates and thresholds; 2) increase in excise taxes on alcohol and tobacco; 3) outline loss offsetting rules for determining taxable income; 4) taxation of pension fund interest for those who have given up their tax residency; 5) tightening anti-circumvention rules for inter-trust loans; 6) refinement of compliance requirements for industry tax incentives and corporate restructuring rules; 7) Limiting the potential for double taxation under hybrid debt avoidance rules; 8) Clarifying avoidance of workarounds…
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