#9 NEWSLETTER

Recent Legislation

 

Executive Decree 288/17: Approves the rules for the construction, installation of infra-structures of restaurants and similar in environmental protected areas

 

Order 221/17: Authorizes the filing of the 2016 Corporate Income Tax Return (“Modelo 1”) electronically for the taxpayers included in Group A

 

Executive Decree 293/17: Approves the rules for the issuing, attribution and use of the Operating Industrial License
Tax Calendar JUNE
Tax Deadline Description Return

CIT - Withholding Tax (II) 30/06/2017   Assessment and payment of the tax withheld on services paid in the previous month   (i)

Real Estate Income Tax
(IPU)
30/06/2017   Assessment and payment of the tax withheld on rents paid in the previous month   (i)

Stamp Tax (IS) 30/06/2017   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) 30/06/2017   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) 30/06/2017   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)
30/06/2017   Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month.   (i)

Social Security (SS) 9/06/2017   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 (12/06/2017)

Currency Buy Sell

ZAR 12,873 12.991

EUR 184.491 186.297

USD 165,092 166,743

Barrel Oil Price

Brent    

$48.29     0.14     0.29%

2017.06.12 end-of-day

Source: Ministry of Finance

Inflation

Month Monthly Accumulated Year-on-Year Change  

April 2,00 9,43 36,33

March 2,24 7,29 37,86

February 2,59 4,94 39,45

Source: BNA

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