Tax Planning in South Africa

Healy Consultants' South Africa tax planning services are tailored to meet your precise needs. Unlike many corporate services providers, we take a truly outward-looking international approach to our tax planning services, thinking 'outside the box' to provide a creative solution which fits your needs. With Healy Consultants, tax planning in South Africa is made easier thanks to our practical, logical and simple approach and our unique network of international tax planning experts. Central to any tax planning in South Africa is the rule that resident companies are required to pay corporate tax on worldwide income. Exemptions are available as the country attempts to attract international Companies to use South Africa as their global headquarters. The following information may be useful in relation to tax planning in South Africa.
1.	When tax planning in South Africa, note that companies are required to pay capital gains tax of 15%.
2.	Healy Consultants can advise on the latest corporate and income tax rates, as well as assist our clients starting a business in South Africa to prepare and submit corporation tax computations and returns to the relevant tax authorities as part of our South Africa tax planning services.
3.	Healy Consultants' South Africa tax planning services includes Goods and Services Tax (GST) and Value Added Tax (VAT) registration. This South Africa tax planning services is also available to our clients in any jurisdiction in which they operate.
4.	Investors starting a business in South Africa should be aware that branches of foreign companies in South Africa are subject to a corporate tax rate of 35% on their worldwide income.
5.	When tax planning in South Africa, the following exemptions are available:
		Small companies (those with an annual revenue of at least US$690,000) are subject to a reduced corporate tax rate of 15%.
		When tax planning in South Africa, non-resident South African international holding companies (IHCs) are not liable to pay corporate tax on income from their foreign subsidiaries. To be eligible for this exemption, an IHC's total equity share capital cannot have more than a 5% South African share.
		An IHC cannot take advantage of South Africa's Double Taxation Agreements in the same way as resident companies, a consideration when tax planning in South Africa.
6.	An effective strategy for tax planning in South Africa should include a corporate bank account with a reputable international bank. Healy Consultants can advise on the best international corporate bank account to support clients starting a business in South Africa. Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered and Citibank to provide corporate bank account services.
7.	Our South Africa tax planning services include providing invaluable advice on drawing up a merger and acquisition roadmap and developing a tax-efficient structure for clients starting a business in South Africa.
8.	Offshore trusts and foundations are another effective South Africa tax planning services. Offshore trusts are ideal for entrepreneurs and high net worth investors starting a business in South Africa who need to legally minimise their international tax exposure and optimise asset protection.
9.	When tax planning in South Africa, dividends from South African sources are tax-free but those from foreign sources received by South Africa-resident companies are subject to a dividend tax of 12.5%.
10.	Intelligent and well-researched corporate structuring is a cornerstone for successful international South Africa tax planning services. Healy Consultants can advise on the most tax-efficient structure based on the needs of our clients who are starting a business in South Africa.
11.	Making our clients, who are starting a business in South Africa, aware of the availability of tax relief tools, such as Double Taxation Treaties, is one of our South Africa tax planning services.
12.	When starting a business in South Africa, an effective South Africa tax planning services should take into account confidentiality and privacy concerns.
13.	Offshore company formation is one of Healy Consultants' South Africa tax planning services. Starting a business in South Africa is a tax-efficient corporate vehicle through which international business can be conducted and is a legal way to protect global assets.
14.	At the heart of any successful tax minimisation strategy is the need to keep abreast of international tax legislation. A key aspect of Healy Consultants' South Africa tax planning services lies in keeping our clients informed of regulatory changes before they can have any negative impact.
15.	Investors starting a business in South Africa should note, value added tax (VAT) is an integral aspect of tax planning in South Africa. VAT is levied at 14% on goods. When tax planning in South Africa, Healy Consultants can assist with VAT registration.
16.	Investors starting a business in South Africa should note, South Africa-resident companies are subject to a maximum corporate tax rate of 37.8% on worldwide income.
17.	In order to fully benefit from tax minimisation rules around the world, Healy Consultants can engineer a comprehensive global corporate structure for clients starting a business in South Africa, or even restructure an existing business to be more tax-efficient.

For more information on tax planning in South Africa, email email@healyconsultants.com or telephone us at (+65) 6735 0120.

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