South Africa's Budget 2018 Presented in Parliament

On 21 February 2018, South Africa's Finance Minister Malusi Gigaba presented the Budget for 2018 in Parliament. The main tax proposals include:

• An increase in the value-added tax rate from 14% to 15% from 1 April 2018;
• A below inflation increase in the personal income tax rebates and brackets from 1 March 2018 as follows:
  • up to ZAR 195,850 - 18%
  • ZAR 195,851 up to 305,850 - 26%
  • ZAR 305,851 up to 423,300 - 31%
  • ZAR 423,301 up to 555,600 - 36%
  • ZAR 555,601 up to 708,310 - 39%
  • ZAR 708,311 up to 1…