EXCHANGE CONTROL TAX
Tax law is a complex and constantly evolving area of the law. The team at Adams & Adams keeps itself up to date with the latest developments and can advise clients regarding a range of tax related matters.
These matters include:
- Cross border transactions and investment structures
- Income tax, capital gains tax, estate duty, value added tax, securities transfer tax
- Secondary tax on companies
- Tax litigation, objections and appeals
- The structuring of commercial transactions to minimise tax liabilities.
WHY CHOOSE US?
We represent a broad array of public and private companies, private equity firms and financial institutions, governmental entities, and other institutions and individuals in almost every type of corporate commercial law situation. In addition, we facilitate international and local clients’ expansion into the rest of the African continent by establishing effective business structures within which to launch their trading in Africa. Our lawyers advise clients on related transactions where clients wish to develop their business in that country. The firm has also advised clients in respect of various sizeable mergers and acquisitions.
SOUTH AFRICAN TAX
Income tax | South Africa has a national tax system predominantly governed by the Income Tax Act (ITA). Residents of South Africa are taxed on a residence basis whilst non-residents are taxed on a source basis.
Any income accruing from a South African source is taxable within South Africa, and residents are taxed on their worldwide income, with relief granted in some instances for taxes paid in other jurisdictions.
The following taxes are payable: Capital gains Tax (CGT), corporate income tax, dividends tax, donations tax, estate duty, excise duty, income tax, securities transfer tax, transfer duty and value added tax (VAT).
South Africa is currently party to approximately 80 double taxation treaties. The principle source of indirect taxation revenue in South Africa is VAT, levied in terms of the Value Added Tax Act.
Contact one of our exchange control tax professionals
Andre Visser is a partner and Head of the Corporate and Commercial Department at Adams & Adams. With over 25 years of post-qualification experience, he has extensive corporate and commercial knowledge that covers mergers & acquisitions, cross-border transactions and all legal aspects of investing into South Africa.
Gabriela is an Associate at Adams & Adams in the commercial, property and litigation department in Johannesburg.
Kineta is an Associate in the Corporate and Commercial Department in Johannesburg. She is an admitted Attorney of the High Court of South Africa and holds an LLB degree from the University of KwaZulu-Natal.
Sibusile has been retained as an associate in the corporate commercial team in our Johannesburg office.