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South Africa Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
54 841 552GDP (PPP)
$765.6 billion (2017 est.)Third largest econony in Africa
GDP growth rate
1.3% (2017 est.)Low, stagnant
GDP (PPP) per capita
$13,500 (2017 est.)Low
Local currency
Rand (ZAR)Weak currency recovering from a dramatic devaluation
Financial stability (Public debt)
52.7% of GDP (2017 est.)Medium
Inflation
5.3% (2017 est.)High but slightly slowing
Language
isiZulu (official) 22.7%, isiXhosa (official) 16%, Afrikaans (official) 13.5%, English (official) 9.6%, Sepedi (official) 9.1%, Setswana (official) 8%, Sesotho (official) 7.6%, Xitsonga (official) 4.5%, siSwati (official) 2.5%, Tshivenda (official) 2.4%, isiNdebele (official) 2.1%, sign language 0.5%, other 1.6% (2011 est.)Corruption perception index (Source: Transparency International)
71/180High level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
15% standard rate
Corporate Tax
28% standard rate
Duties
Customs duties are charged on importation of goods into South Africa at rates ranging between 3% and 45%. In addition, import duties may also include anti-dumping and countervailing duties of up to 150%
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