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South Africa Launches Wealth Tax Debate

by Lorys Charalambous, Tax-News.com, Cyprus

26 April 2017


South Africa's Davis Tax Committee has launched a consultation on options for introducing an additional "wealth tax."

The DTC has called for submissions regarding three possible forms of wealth tax: a land tax, a national tax on the value of property (over and above municipal rates), or an annual wealth tax.

Presently South Africa levies three taxes on wealth: estate duty, transfer duty, and donations tax. However, these account for just one percent of revenue collections.

Written submissions are being sought by May 31.

TAGS: South Africa | Finance | tax | individual income tax | Africa | Tax

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