Africa News

SARS Sets Out Expectations On Virtual Currency Tax Compliance

by Mary Swire, Tax-News.com, Hong Kong

Friday, April 6, 2018

The South African Revenue Service on April 6, 2018, warned taxpayers that they are expected to declare cryptocurrency gains or losses in calculating their taxable income. Read Full Story

South Africa Increases VAT Rate To 15 Percent

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, April 2, 2018

On April 1, 2018, South Africa increased its value-added tax rate to 15 percent from 14 percent. Read Full Story

African States Conclude Landmark Free Trade Deal

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, March 28, 2018

44 African countries have signed a landmark free trade pact to simplify tax and non-tax rules for trading between their borders. Read Full Story

South Africa To Increase VAT On April 1

by Lorys Charalambous, Tax-News.com, Cyprus

Monday, March 26, 2018

On April 1, 2018, South Africa will raise its value-added tax rate to 15 percent from 14 percent. Read Full Story

Tax-Privileged Free Trade Zones The OECD's Next Target

by Ulrika Lomas, Tax-News.com, Brussels

Monday, March 19, 2018

In a new report, the OECD has drawn attention to criminal activity in free trade zones, which typically offer tax privileges and lighter regulation, highlighting that they may be unintentionally fostering growth in counterfeit goods. Read Full Story

SARS Announces Temporary Relief From New CFC Reporting Rules

by Lorys Charalambous, Tax-News.com, Cyprus

Friday, March 16, 2018

The South African Revenue Service has announced that it will temporarily permit taxpayers to report information on controlled foreign corporations under the old filing rules, which were replaced in February. Read Full Story

Egypt To Receive Tax Information Exchange Support

by Lorys Charalambous, Tax-News.com, Cyprus

Thursday, March 8, 2018

Egypt is to receive international support to implement new measures in the area of tax transparency and information exchange. Read Full Story

South Africa Guides On Impact Of April VAT Hike

by Lorys Charalambous, Tax-News.com, Cyprus

Wednesday, February 28, 2018

South Africa has issued a guide on the value-added tax rate increase to 15 percent from 14 percent due to take effect from April 1, 2018. Read Full Story

European, African States To Review Free Trade Agreement

by Ulrika Lomas, Tax-News.com, Brussels

Friday, February 16, 2018

The European Free Trade Association states (Iceland, Liechtenstein, Norway, and Switzerland), and the South African Customs Union have begun negotiations to review their existing free trade agreement. Read Full Story