#8 NEWSLETTER
Recent Legislation
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| Executive Decree 217/17: Approves the Technical rules for the Refining activity | |
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| Jointly Executive Decree 220/17: Determines that is not allowed, as a general rule, the importation of cement during 2017, except when authorised by the Cement Sector Commission | |
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| Presidential Decree 79/17: Approves the changes in articles 2º, 7º and 10º of the Presidential Decree 43/17, of March 6th, that regulates the provision of professional services by non-resident foreign workers | |
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Tax Calendar MAY
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Tax | |
Deadline | |
Description | |
Return | |
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| CIT - Withholding Tax (II) | |
31/05/2017 | Assessment and payment of the tax withheld on services paid in the previous month | (i) | |
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| Corporate Income Tax | |
31/05/2017 | Filing of the 2016 Annual Tax Return for Group B taxpayers | |
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| Real Estate Income Tax (IPU) |
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31/05/2017 | Assessment and payment of the tax withheld on rents paid in the previous month | (i) | |
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| Stamp Tax (IS) | |
31/05/2017 | 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) | |
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| Investment Income Tax (IAC) | |
31/05/2017 | If any IAC on income liable to the same was assessed/withheld in the previous month, the tax should be paid this month |
(i) | |
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| Consumption Tax (IC) | |
31/05/2017 | 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) | |
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| Employment income Tax (IRT) |
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31/05/2017 | Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month. | (i) | |
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| Social Security (SS) | |
10/05/2017 | Payment of the SS assessed (8%) and withheld (3%) to the employees last month. | (ii) | |
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| (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
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| Foreign Exchange Rates |
| Currency | |
Buy | |
Sell | |
| ZAR | |
12,087 | |
12.200 | |
| EUR | |
184.485 | |
186.292 | |
| USD | |
165,087 | |
166,738 | |
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| Barrel Oil Price |
| Brent | |
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$48.73  -0.61 -1.25% |
| 2017.05.09 end-of-day |
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| Source: Ministry of Finance |
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| Inflation |
| Month | |
Monthly | |
Accumulated | |
Year-on-Year Change |
| March | |
2,24 | |
7,29 | |
37,86 | |
| February | |
2,59 | |
4,94 | |
39,45 | |
| January | |
2,29 | |
2,29 | |
40,39 | |
| Source: BNA |
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