Updated Interest Rates
Tax, VAT, Fringe Benefits, Loans,Donations Tax and Dividends Tax
Tax and VAT - Further Interest Rate Decreases
The SARS interest rates have been further decreased as detailed below. It is important to remember that interest and penalties paid to SARS are not deductible expenses for income tax purposes. On the other hand, interest received from SARS is fully taxable (after deducting the current initial exemption of R23 800 per annum (R34 500 if you are 65 or older) for all local interest income earned by natural persons).