South Africa: Technical Assistance Report-Fiscal Regimes for Mining and Petroleum: Opportunities and Challenges

September 8, 2015

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South Africa: Technical Assistance Report-Fiscal Regimes for Mining and Petroleum: Opportunities and Challenges, (USA: International Monetary Fund, 2015) accessed November 24, 2024

Summary

This Technical Assistance report reviews South Africa’s tax system and also examines the fiscal regime with a view to generating a sustainable revenue contribution from mining and petroleum in future. Mining has historically been the mainstay of the South African economy. Mineral exports remain the principal contributor to foreign exchange earnings on the current account. South Africa is not yet a significant producer of crude oil or natural gas. Oil and gas exploration nevertheless shows promise. Taxation is far from top of the list in current challenges facing the development of extractive industries in South Africa. The national goal of economic and social transformation in favor of Historically Disadvantaged South Africans has major impact on the mining sector.

Subject: Capital spending, Commodities, Economic sectors, Environment, Expenditure, Mining sector, National accounts, Non-renewable resources, Oil, Personal income

Keywords: Africa, Capital expenditure, Capital spending, Cash flow, CR, Flat rate, Global, Gross sales, Income tax, ISCR, Mining sector, Non-renewable resources, Oil, Personal income, Taxable income, Withholding tax

Publication Details

Pages:

154
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2015/244
Stock No:

1ZAFEA2015009
ISBN:

9781513514802
ISSN:

1934-7685

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