Below, please find issue 24 of ENSafrica's tax in brief (formerly tax revenews), a snapshot of the latest tax developments in South Africa.
- exchange control circular no. 6/2019
- this circular contains amendments to the Currency and Exchanges Manual for Authorised Dealers in foreign exchange with limited authority.
- find a link to the circular here.
customs and excise
rule amendments, published in Government Gazette 42381 o notice R562 to enhance the administration and compliance in respect of the Health Promotion Levy on Sugary Beverages. DA 185.4A16. DA 185. DA 185.4B2. o find a copy of notice R562 here.
notice R564 relating to the implementation of the UCR. o find a copy of notice R564 here.
tariff amendment notice R563, published in Government Gazette 42381 o relates to part 7A of schedule no. 1. to amend note 5 to include the reference to grams per 100 millimetres; and to insert note 6 to indicate how sugar content will be calculated. o find a copy of the tariff amendment notice here.
correction notice R565, published in Government Gazette 42385 o relates to part 1 of schedule no. 1 as published in Government Gazette 42338 dated 29 March 2019 by the substitution of tariff subheading 8471.49.90 to change the wording from "with a screen size exceeding 45cm" to "other". o retrospective effect from 1 April 2019. o find a copy of the correction notice here.
Democratic Republic of Congo | establishing new rates for parafiscal taxes in the mining sector o introduces a new tax on exceptional treatment of exported raw minerals at the rate of USD500/30 tonnes. o introduces a new tax on mining cooperative agreements at USD5 000. o increases the mining royalty from 0% to: 6% depending on the type of mineral; and 10% for strategic minerals which will be determined by the government. o decree issued on 22 February 2019.
Democratic Republic of Congo | new payroll tax return o the statement notes that a new payroll tax return model has been issued and must be used as of February 2019. o statement issued on 2 February 2019.
Uganda | Investment Code Act, 2019 ("ICA") o the ICA, inter alia: repeals the 1991 Investment Code; defines all East African citizens as domestic investors; establishes the Uganda Investment Authority ("UIA") as a one-stop investment centre and provides for the financing and auditing of the centre; makes it mandatory for foreign investors to register with the UIA; scraps the old investment incentives and notes that the Minister of Finance will prescribe new incentives; and lists criteria for qualification for investment incentives, including a requirement to export 80% of goods produced and the use of 70% of locally sourced raw materials, among others. o ICA became effective on 29 March 2019.
Zimbabwe | Exchange Control (Amendment) Regulations, 2019 o amends the Exchange Control Regulations, 1996. o gazetted on 22 February 2019. o find a link to the summary here.
Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting ("MLI") o Luxembourg deposits its instrument of ratification. o find a list of MLI signatories and MLI positions here.
the Organisation for Economic Co-operation and Development ("OECD") invites public comments on draft report on tax morale o public comments due: 10 May 2019 o find a copy of the previous OECD research on tax morale among individuals here. o find a copy of the public consultation document here.
Zambia | Sales Tax Bill published o Sales Tax Bill introducing the Sales Tax system in place of the Value-Added Tax system has been presented to parliament for approval. o sales tax at the rate of 9% is to be levied on the supply of goods and services in Zambia and 16% on the importation of goods and services. o find the ENSafrica newsflash here.
Netherlands | introduction of Ultimate Beneficial Owner register o the Dutch Government published the legislative proposal introducing the Ultimate Beneficial Owner register in implementation of Directive (EU) 2018/843 of the European Parliament and the Council of 30 May 2018 amending, inter alia, Directive (EU) 2015/849 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing. o find a copy of an article by Buren here.
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