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Taxation In South Africa
Taxation may involve payments to a minimum of two different levels of government: central government through SARS or to local government. Prior to 2001 the South African tax system was "source-based", where in income is taxed in the country where it originates. Since January 2001, the tax system was changed to "residence-based" wherein taxpayers residing in South Africa are taxed on their income irrespective of its source. Non residents are only subject to domestic taxes. Central government revenues come primarily from income tax, value added tax (VAT) and corporation tax. Local government revenues come primarily from grants from central government funds and municipal rates. In the 2018/19 fiscal year SARS collected R 1 287.7 billion (equivalent to US$ 86.4 billion) in tax revenue, a figure R71.2 billion (or 5.8%) more than that from the previous fiscal year. In 2018/19 financial year, South Africa had a tax-to-GDP ratio of 26.2% that was only slightly more than the 25.9% in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
SA Budget 24-25
Sa, SA, S.A. or s.a. may refer to: Arts, media and entertainment Music * Initialism for "soprano and alto", voice types for which a piece of music is written * SA (Samurai Attack), a Japanese punk rock band * SA Martinez, a vocalist and DJ for the band 311 * Soziedad Alkoholika, a Spanish punk rock band * ''SA'', a 2018 album by Jonathan Richman * Strike Anywhere, a hardcore punk band from Richmond, Virginia Other media * ''Sa'' (film), a 2016 Indian film * ''S.A'' (manga), a manga series by Maki Minami * ''Something Awful'', a comedy website * Star Awards, an annual Singaporean television award ceremony * ''Subterranean Animism'', a video game from the Touhou series by ZUN * Siragadikka Aasai (TV series), an Indian TV series Language and writing * Sa (cuneiform), a cuneiform sign * sa (hieroglyph), an Egyptian hieroglyph meaning "protection" * Sa (kana) (さ and サ), characters (kana) in the two Japanese syllabaries * Saa language, spoken in Vanuatu * Sanskrit (ISO 639-1 code ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Inheritance
Inheritance is the practice of receiving private property, titles, debts, entitlements, privileges, rights, and obligations upon the death of an individual. The rules of inheritance differ among societies and have changed over time. Officially bequeathing private property and/or debts can be performed by a testator via will, as attested by a notary or by other lawful means. Terminology In law, an "heir" ( heiress) is a person who is entitled to receive a share of property from a decedent (a person who died), subject to the rules of inheritance in the jurisdiction where the decedent was a citizen, or where the decedent died or owned property at the time of death. The inheritance may be either under the terms of a will or by intestate laws if the deceased had no will. However, the will must comply with the laws of the jurisdiction at the time it was created or it will be declared invalid (for example, some states do not recognise handwritten wills as valid, or only in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Free State (province)
The Free State ( ; ; ; ; ), formerly known as the Orange Free State, is a Provinces of South Africa, province of South Africa. Its capital is Bloemfontein, which is also South Africa's judicial capital. Its historical origins lie in the Boer republic called the Orange Free State and later the Orange Free State (province), Orange Free State Province. History The current borders of the province date from 1994 when the Bantustans were abolished and reincorporated into South Africa. It is also the only one of the four original provinces of South Africa not to undergo border changes, apart from the reincorporation of Bantustans, and its borders date from before the outbreak of the Boer War. Geography The Free State is situated on a succession of flat grassy plains sprinkled with pastureland, resting on a general elevation of 3,800 feet only broken by the occasional hill or kopje. The rich soil and pleasant climate allow for a thriving agricultural industry. The province is high ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eastern Cape
The Eastern Cape ( ; ) is one of the nine provinces of South Africa. Its capital is Bhisho, and its largest city is Gqeberha (Port Elizabeth). Due to its climate and nineteenth-century towns, it is a common location for tourists. It is also known for having been home to many anti-apartheid activists, including Nelson Mandela. The second largest province in the country (at 168,966 km2) after the Northern Cape, it was formed in 1994 out of the Xhosa people, Xhosa homelands or bantustans of Transkei and Ciskei, together with the eastern portion of the Cape Province. The central and eastern part of the province is the traditional home of the indigenous Xhosa people. In 1820 this area, which was known as the Xhosa Kingdom, began to be settled by Europeans who originally came from England, Scotland and Ireland. Eastern Cape is the only province in South Africa were the number of Black Africans declined from 86.6% to 85.7% since Apartheid ended in 1994. History The Eastern Cape p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gauteng Province
Gauteng ( , ; Sotho-Tswana for 'place of gold'; or ) is one of the nine provinces of South Africa. Situated on the Highveld, Gauteng is the smallest province by land area in South Africa. Although Gauteng accounts for only 1.5% of the country's land area, it is the most populous province in South Africa, with more than a quarter (26%) of the national population; the provincial population was approximately 16.1 million, according to mid-year 2022 estimates. Highly urbanised, the province's capital is also the country's largest city, Johannesburg. Gauteng is the wealthiest province in South Africa and is considered the financial hub of South Africa; the financial activity is mostly concentrated in Johannesburg. It also contains the administrative capital, Pretoria, and other large areas such as Midrand, Vanderbijlpark, Ekurhuleni and the affluent Sandton. The largest township, Soweto, is also found in this province. Politically, it is the closest contested province between the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Road Accident Fund
The Road Accident Fund (RAF) is a South African state insurer that provides liability and collision insurance coverage to all drivers in South Africa. RAF does not cover property damage (such as damage to vehicles, buildings, and the contents of a vehicle). The RAF issues settlements by assigning the claimant a percentage of responsibility for the accident and paying the claimant the percentage of a full settlement that was determined not to be their responsibility. Road Accident Fund collects insurance premiums through a levy on motor vehicle fuel. Principal activities The RAF provides compulsory social insurance cover to all users of South African roads, both citizens and foreigners, against injuries sustained or death arising from accidents involving motor vehicles within the borders of South Africa. This cover is in the form of indemnity insurance to persons who cause the accident, as well as personal injury and death insurance to victims of motor vehicle accidents and the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Biodiesel
Biodiesel is a renewable biofuel, a form of diesel fuel, derived from biological sources like vegetable oils, animal fats, or recycled greases, and consisting of long-chain fatty acid esters. It is typically made from fats. The roots of biodiesel as a fuel source can be traced back to when J. Patrick and E. Duffy first conducted transesterification of vegetable oil in 1853, predating Rudolf Diesel's development of the diesel engine. Diesel's engine, initially designed for mineral oil, successfully ran on peanut oil at the 1900 Paris Exposition. This landmark event highlighted the potential of vegetable oils as an alternative fuel source. The interest in using vegetable oils as fuels resurfaced periodically, particularly during resource-constrained periods such as World War II. However, challenges such as high viscosity and resultant engine deposits were significant hurdles. The modern form of biodiesel emerged in the 1930s, when a method was found for transforming vegetable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kerosene
Kerosene, or paraffin, is a combustibility, combustible hydrocarbon liquid which is derived from petroleum. It is widely used as a fuel in Aviation fuel, aviation as well as households. Its name derives from the Greek (''kērós'') meaning "wax"; it was registered as a trademark by Nova Scotian, Nova Scotia geologist and inventor Abraham Pineo Gesner, Abraham Gesner in 1854 before evolving into a generic trademark. It is sometimes spelled kerosine in scientific and industrial usage. Kerosene is widely used to power jet engines of aircraft (jet fuel), as well as some rocket engines in a highly refined form called RP-1. It is also commonly used as a cooking and lighting fuel, and for fire toys such as Poi (performance art)#Fire poi, poi. In parts of Asia, kerosene is sometimes used as fuel for small outboard motors or even motorcycles. World total kerosene consumption for all purposes is equivalent to about 5,500,000 barrels per day as of July 2023. The term "kerosene" is comm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diesel Fuel
Diesel fuel, also called diesel oil, heavy oil (historically) or simply diesel, is any liquid fuel specifically designed for use in a diesel engine, a type of internal combustion engine in which fuel ignition takes place without a spark as a result of compression of the inlet air and then injection of fuel. Therefore, diesel fuel needs good compression ignition characteristics. The most common type of diesel fuel is a specific fractional distillation, fractional distillate of petroleum fuel oil, but alternatives that are not derived from petroleum, such as biodiesel, biomass to liquid (BTL) or gas to liquid (GTL) diesel are increasingly being developed and adopted. To distinguish these types, petroleum-derived diesel is sometimes called petrodiesel in some academic circles. Diesel is a high-volume product of oil refineries. In many countries, diesel fuel is standardized. For example, in the European Union, the standard for diesel fuel is EN 590. Ultra-low-sulfur diesel (ULSD) i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gasoline
Gasoline ( North American English) or petrol ( Commonwealth English) is a petrochemical product characterized as a transparent, yellowish, and flammable liquid normally used as a fuel for spark-ignited internal combustion engines. When formulated as a fuel for engines, gasoline is chemically composed of organic compounds derived from the fractional distillation of petroleum and later chemically enhanced with gasoline additives. It is a high-volume profitable product produced in crude oil refineries. The ability of a particular gasoline blend to resist premature ignition (which causes knocking and reduces efficiency in reciprocating engines) is measured by its octane rating. Tetraethyl lead was once widely used to increase the octane rating but is not used in modern automotive gasoline due to the health hazard. Aviation, off-road motor vehicles, and racing car engines still use leaded gasolines. Other substances are frequently added to gasoline to improve chemical st ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
State-owned Enterprise
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation. SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce. The government typically holds full or majority ownership and oversees operations. SOEs have a distinct legal structure, with financial and developmental goals, like making services more accessible while earning profit (such as a state railway). They can be considered as government-affiliated entities designed to meet commercial and state capitalist objectives. Terminology The terminology around the term state-owned enterprise is murky. All three words in the term are challenged and subject to interpretation. First, it is debatable what the term "state" implies (e.g., it is unclear whether municipally owned corporations and ente ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Black Economic Empowerment
Black Economic Empowerment (BEE) is a policy of the South African government which aims to facilitate broader participation in the economy by black people. A form of affirmative action, it is intended especially to redress the inequalities created by apartheid. The policy provides incentives – especially preferential treatment in government procurement processes – to businesses which contribute to black economic empowerment according to several measurable criteria, including through partial or majority black ownership, hiring black employees, and contracting with black-owned suppliers. The preferential procurement aspect of BEE has been viewed as paradigmatic of a sustainable procurement approach, whereby government procurement is used to advance social policy objectives. So-called "BEE deals" – transactions aiming to increase black ownership of large businesses – have been conducted on a large scale, with BEE transactions concluded between 1994 and 2005 valued at betwe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
