#3 NEWSLETTER

Recent Legislation

 

Dispatch 496/16: Approves the circulation duties for the 2016 year
Tax Calendar NOVEMBER
Tax Deadline Description Return

CIT - Withholding Tax (II) 30/11/2016   Assessment and payment of the tax withheld on services paid in the previous month   (i)

Real Estate Income Tax
(IPU)
30/11/2016   Assessment and payment of the tax withheld on rents paid in the previous month   (i)

Stamp Tax (IS) 30/11/2016   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) 30/11/2016   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) 30/11/2016   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)
30/11/2016   Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month.   (i)

Social Security (SS) 10/11/2016   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

Currency Buy Sell

ZAR 12.250 12.354

EUR 184.470 186.277

USD 165,072 166,723

Barrel Oil Price

Brent    

$46.11     0.57  1.24%

2016.11.07 end-of-day

Source: Ministry of Finance

Inflation

Month Monthly Accumulated Year-on-Year Change  

September 2,14 33,64 39,44

August 3,30 30,85 38,18

July 4,04 26,66 35,30

Source: BNA

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