Tax & Financial Acts

Income Tax and General Taxation:

Income Tax Act, 1962 (Act No. 58 of 1962)
Governs the taxation of individuals, companies, trusts, and other entities.
Tax Administration Act, 2011 (Act No. 28 of 2011)
Provides the legal framework for the administration of all tax acts by SARS.
Taxation Laws Amendment Acts (Annual)
These amend the Income Tax Act, VAT Act, and other tax legislation yearly.
Rates and Monetary Amounts and Amendment of Revenue Laws Acts (Annual)
Annually adjust tax rates and thresholds (e.g., personal tax brackets).

Value-Added Tax Act, 1991 (Act No. 89 of 1991)
Regulates VAT, applicable to most goods and services.
Customs and Excise Act, 1964 (Act No. 91 of 1964)
Governs duties on imported/exported goods and excise taxes on specific local products.
Diamond Export Levy Act, 2007 (Act No. 15 of 2007)
Applies to the export of unpolished diamonds.
Transfer Duty Act, 1949 (Act No. 40 of 1949)
Governs duty payable on the acquisition of immovable property.
Estate Duty Act, 1955 (Act No. 45 of 1955)
Regulates tax levied on the estate of deceased persons.
Securities Transfer Tax Act, 2007 (Act No. 25 of 2007)
Governs tax on the transfer of listed and unlisted securities.
Skills Development Levy Act, 1999 (Act No. 9 of 1999)
Requires employers to pay a levy for skills development and training.
Unemployment Insurance Contributions Act, 2002 (Act No. 4 of 2002)
Regulates contributions to the UIF by employers and employees.
Employment Tax Incentive Act, 2013 (Act No. 26 of 2013)
Provides tax incentives to employers hiring young, low-income workers.

Public Finance Management Act, 1999 (Act No. 1 of 1999)
Governs financial management in national and provincial government departments.
Municipal Finance Management Act, 2003 (Act No. 56 of 2003)
Regulates financial management at the municipal level.
Auditing Profession Act, 2005 (Act No. 26 of 2005)
Establishes the regulatory framework for auditors and the IRBA.
Financial Intelligence Centre Act, 2001 (Act No. 38 of 2001)
Aims to combat money laundering and terrorist financing.
South African Reserve Bank Act, 1989 (Act No. 90 of 1989)
Regulates the South African Reserve Bank’s functions and governance.
Currency and Exchanges Act, 1933 (Act No. 9 of 1933)
Governs exchange control and foreign currency regulations.
National Treasury Regulations (under PFMA)
Provide detailed rules for budget planning, reporting, and financial discipline.

Pension Funds Act, 1956 (Act No. 24 of 1956)
Governs private pension fund operations and regulations.
Government Employees Pension Law, 1996
Governs the public service pension scheme (GEPF).
Social Assistance Act, 2004 (Act No. 13 of 2004)
Provides for social grants and financial assistance to eligible citizens.

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