How is SARS interest calculated

How much is SARS tax on interest?

by

SARS (South African Revenue Service) applies tax on interest income according to a specific tax bracket system. The tax rate on interest income depends on your total taxable income and is subject to progressive tax rates. In South Africa, interest income is generally included in your annual taxable income and is subject to income tax. … Read more

What is SARS official interest rate?

by

When referring to the official interest rate in South Africa, you would typically look to the South African Reserve Bank (SARB), which is the country’s central bank. The SARB sets the repo rate, which is the benchmark interest rate in South Africa. The official interest rate can vary depending on the country or region you … Read more