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Companies - tax rates

Red denotes recent changes.

Normal tax		2011
Type of Income		Rate of tax %
Gold mining ¹
Long-term insurance
Individual policyholder fund		30
Company policyholder fund and corporate fund		28
Untaxed policyholder fund		0
Small business corporation
R0 - R57 000		0
R57 001 - R300 000		10 above R57 000
R300 001 and above		R24 300 + 28 Above R300 000
Personal service provider company		33
All other income (i.e. "ordinary" companies)		28
Foreign resident companies which trade
in South Africa through a branch/ agency ³		33

Secondary Tax on Companies (STC) ^2,3,4
On dividends declared		Rates of tax %
Until 1 October 2007		12.5
On or after 1 October 2007		10

Notes

Rate is determined according to a formula.
The tax rate is applied to the net amount, being dividends declared less all dividends (except taxable foreign dividends if applicable) receivable during the "dividend cycle".
South African branches of foreign resident companies are exempt from STC.
STC is to be replaced with a dividends tax which will be levied at the rate of 10% on all dividends paid by companies with effect from a date to be determined by the Minister of Finance.

A simplified turnover based presumptive tax system (which is elective and applies to years of assessments commencing on or after 1 March 2009) has been implemented for certain businesses with a turnover of up to R1 million per year.

Turnover tax for micro businesses
Turnover (R)	Tax liability
0 - 100 000	0%
100 001 - 300 000	1% of each R1 abover R100 000
300 001 - 500 000	R2 000 + 3% of the amount above R300 000
500 001 - 750 000	R8 000 + 5% of the amount above R500 000
750 001 - 1 000 00	R20 500 + 7% of the amount above R750 000

Information based on legislation as at 17 February 2010.

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