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Consultations on taxation

 

South Africa

1. INTRODUCTION

* South Africa is an independent country situated in the Southern Region of Africa.

2. ADVANTAGES

* Tax Agreements with some 50 countries worldwide.
* Running your Corporation / Company in such a country means that you pay no (zero) South African tax;
   you report for tax in the country concerned.

3. DISADVANTAGES

* Running your Close Corporation (CC) / Company in a country that does not have a tax agreement with South
   Africa, you only pay South African tax on profits: 30% less the tax payable in that country.
   Examples:
   If your CC/Company pays 20% tax on profits in your country, you pay 10% tax in South Africa.
   If your CC/Company pays 30% tax on profits in your country, you pay no tax in South Africa.

4. COMPANY NAME

* Sensitive words "Holdings", "Group", "Investments", etc.
* Must end with "CC" (Corporation) or "(Pty) Ltd" (Company).

5. SHAREHOLDERS

* Corporation: min. 1 individual
* Company: min. 1 corporate or individual

6. DIRECTORS, SECRETARY

* min. 1 individual director/member.
* secretary: informal appointment; can be SA non-resident.

7. ACCOUNTS

* No annual audited accounts in SA for tax-agreement countries.
* Annual audited accounts must be filed in SA only for non-tax-agreement countries.

8. SHARE CAPITAL

* 1 SA Rand (paid up) = R1.00

9. TIME TO SUPPLY

* from ready-made list - 5 days for courier.
* with new name - up to 4 weeks.


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