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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