Other taxes, duties and levies

Red denotes recent changes.

Securities Transfer Tax (STT)
The tax was imposed from 1 July 2008 at a rate of 0.25% on the transfer of listed or unlisted securities. Securities consist of shares in companies incorporated in South Africa (listed and unlisted) and foreign companies listed on the South African stock exchange.

STT is also payable on the transfer of member’s interests in a closed corporation.

Stamp duty
Stamp duty is imposed on written agreements for the lease of fixed property (exemption for agreements for a rental period 5 years or shorter) - 0.5% of the rentals (excluding VAT).

The Stamp Duties Act is repealed with effect from 1 April 2009.

Skills Development Levy (SDL)
Payable at 1% of payroll (employers paying annual remuneration of less than R500 000 are exempt from skills development levies from 1 August 2005).

Unemployment Insurance Fund (UIF)

• Contributions are based on “remuneration” as defined for PAYE purposes.
• Rate of contribution is 1% by the employer and 1% by the employee, and the employer is obliged to withhold the employee’s contribution and pay both amounts to SARS.
• The maximum contribution is R249.56 i.e. where any employee earns more than R12 478 per month, the contribution is payable only on the first R12 478 and the balance is not subject to the contribution.

Withholding tax on royalties
Royalty payments to non-residents are subject to a final withholding tax of 12% (or a rate determined in a relevant agreement for the avoidance of double taxation).

Source: SARS