South Africa Tax Agency Issues Comprehensive Guide on Capital Gains Taxes

The South African Revenue Service Nov. 5 issued Comprehensive Guide No. 9, on capital gains taxes (CGT). Topics covered include: 1) the 2020 CGT rates for companies with an assessment year ending between April 1, 2019, and March 1, 2020, and for individuals with an assessment year starting March 1, 2019; 2) rules for deceased and insolvent estates; 3) an overview of trusts and beneficiaries; 4) the treatment of taxable gains, assessed losses, and specific assets; 5) the treatment of capital gains on foreign returns of capital; 6) time limits for transactions; 7) the determination of cost bases; 8) the ...