Dr Renganaden Padayachy

Annex to Budget Speech 2020-21

En plus de son discours attendu, le ministre des Finances a présenté au parlement le aussi très attendu Annex to Budget Speech 2020-21.

Tax
Individual with no dependent de 310,000 à 325,000
Individual with one dependent de 420,000 à 435,000
Individual with two dependents de 500,000 à 515,000
Individual with three dependents de 550,000 à 600,000
Individual with four or more dependents de 600,000 à 680,000,

A Solidarity Levy is currently applicable on resident individuals having chargeable income plus dividends in excess of Rs 3.5 million in a year.

The Solidarity Levy on telephony service providers [5% of accounting profit + 1.5% of turnover], which was introduced in 2009 and subsequently extended, will be made permanent.

Presently, the first Rs 3,000 of the value of an article imported by post or courier services is exempt from customs duty and Value Added Tax (VAT). Henceforth, this exemption value will be reduced to Rs 1,000.

The existing sugar tax of 3 cents per gram on sugar sweetened beverages will be doubled with effect from 5th June 2020.

Final Annex to Budget Speech 2020-21

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