South Africa Raises Tax Bracket Thresholds, Minimum Wages

South Africa increased March 1 its maximum thresholds of income for its personal income tax brackets by 5.1% and its national minimum wage by 3.8%.

The revised personal income tax bracket thresholds, which are to remain in effect until the end of South Africa’s 2020/21 tax year on Feb. 28, 2021, were released as part of the tax measures of the country’s 2020/21 budget, which was presented to the country’s legislature as a proposal Feb. 26. However, as has occurred for past tax years, the South African Revenue Service is treating the revised personal income tax brackets as finalized because ...