South Africa Income Tax Act 1962
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Questions and Answers

When does the legislative process of tax laws in South Africa start?

  • With the issuing of a White Paper
  • With the Draft Money Bill
  • With the issuing of a Green Paper (correct)
  • With the Act of Parliament
  • Which governmental department in South Africa is responsible for dealing with tax laws?

  • Department of Finance
  • Department of Justice
  • National Treasury (correct)
  • Department of Revenue
  • What is the purpose of a White Paper in the legislative process of tax laws?

  • Setting out general views for public discussion (correct)
  • Issuing final regulations
  • Passing through parliament
  • Introducing the Act of Parliament
  • Which two countries heavily influenced the tax practices inherited by South Africa?

    <p>Netherlands and Britain</p> Signup and view all the answers

    In which century was income tax first levied in South Africa?

    <p>18th century</p> Signup and view all the answers

    Which tax type is levied on a person according to the text?

    <p>Income tax</p> Signup and view all the answers

    What is the last step before a tax Act becomes binding in South Africa?

    <p>Published in the Government Gazette for public comment</p> Signup and view all the answers

    What is the tax base for VAT according to the text?

    <p>Taxable turnover</p> Signup and view all the answers

    Under which tax legislation is Estate Duty categorized?

    <p>Estate Duty Act 45 of 1955</p> Signup and view all the answers

    What tax type is levied on a transaction according to the text?

    <p>Transfer Duty</p> Signup and view all the answers

    Which tax category does Withholding Tax fall under according to the text?

    <p>Income</p> Signup and view all the answers

    What is the tax base for Unemployment Insurance Contributions based on the text?

    <p>Remuneration</p> Signup and view all the answers

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