ANNOUNCEMENT 01 Mar 2010

In March 2010, the government of South Africa announced altered domestic business conditions for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 1 neutral
  • 0 liberalising

SOURCE



National Budget Review, National Budget 2009, Chapter 4 page 65, http://www.treasury.gov.za/documents/national%20budget/2009/review/chap4.pdf

Government Gazette, Republic of South Africa, No. 31635, http://www.info.gov.za/view/DownloadFileAction?id=92824


Inception date: 01 Mar 2010 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

The Minerals and Petroleum Resources Royalty Act, 2008,is to take effect from 1 March 2010. The introduction of the new law was postponed for a year to give mining companies a rest from the global recession. The law requires all companies extracting minerals in the country to pay royalties at a minimum rate of 0.5% and a maximum rate of between 5% and 7% for refined and unrefined minerals, respectively. based on gross sales, less their allowable deductions.

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A