#11 NEWSLETTER

Recent Legislation

 

Warning 5/17 (BNA): Rules the activities of issuing, acceptance and utilization of payment cards in the ATM subsystem

 

Warning 6/17 (BNA): Defines de level of services on real time in ATM operations

 

Executive Decree 366/17: Approves the juridical regime for the taxpayer number
Tax Calendar AUGUST
Tax Deadline Description Return

CIT - Withholding Tax (II) 31/08/2017   Assessment and payment of the tax withheld on services paid in the previous month   (i)

CIT – Provisory payment (II) 31/08/2017   Assessment and payment of the tax related to the previous year (2% on sales)   (i)

Real Estate Income Tax
(IPU)
31/08/2017   Assessment and payment of the tax withheld on rents paid in the previous month   (i)

Stamp Tax (IS) 31/08/2017   Payment of the IS assessed in the last month, being the most relevant one the 1% IS due on invoices/receipts issued in the previous months related to invoices received   (i)

Investment Income Tax (IAC) 31/08/2017   If any IAC on income liable to the
same was assessed/withheld in the previous month, the tax should be paid this month
  (i)

Consumption Tax (IC) 31/08/2017   Payment of the IC assessed in
all the invoices received last month for services rendered and in goods produced and sold last month (IC is assessed on cost of goods produced)
  (i)

Employment income Tax
(IRT)
31/08/2017   Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month.   (i)

Social Security (SS) 10/08/2017   Payment of the SS assessed (8%) and withheld (3%) to the employees last month.   (ii)

(i) Payment Return (DLI)
(ii) Remuneration Schedule and Payment Letter
Nota: Values in foreign currency are converted to local currency using the average exchange rate of the last quarter

Other Relevant Information

Foreign Exchange Rates (15/08/2017)

Currency Buy Sell

ZAR 12,400 12.519

EUR 184.493 186.299

USD 165,094 166,745

Barrel Oil Price

Brent    

$50.73    -1.37    -2.70%

2017.08.14 end-of-day

Source: Ministry of Finance

Inflation

Month Monthly Accumulated Year-on-Year Change  

June 1,58 13,11 31,89

May 1,76 11,36 34,08

April 2,00 9,43 36,33

Source: BNA

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