South Africa Tax Agency Posts Draft Bill to Amend Various Tax Provisions, Rates for 2026

The South African Revenue Service Feb. 25 posted a draft bill to amend various tax provisions and rates for 2026. The draft bill includes measures to: 1) set the rates of normal tax and increase the primary, secondary, and tertiary rebates; 2) increase medical tax credits for individuals; 3) increase the maximum limit of depreciation for the use of a vehicle; 4) amend VAT registration thresholds by increasing the registration liability threshold to 2.3 million South African rand (US$136,917) from 1 million rand (US$59,529) and increasing the 12-month taxable supply threshold to 120,000 rand (US$7,144) from 50,000 rand (US$2,976), effective ...