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To what taxation am I liable?
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For income tax purposes, South Africa is no longer a source-based taxation system. In February 2000 proposed changes to the South African tax legislation were announced and, although the actual legislation has not been promulgated, the government has indicated its intention to change from a source-based to a residence-based taxation system.
In addition, a Capital Gains Tax was introduced in October 2001 and clients are advised that it is prudent in all cases to seek professional legal and tax advice. |
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