Revised 2022 Draft Rates Bill

The 2022 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (“2022 Draft Rates Bill”) includes the tax rate and threshold adjustments that were announced in the 2022 Budget, and includes changes to the personal income tax brackets and rebates, the employment tax and excise duties on alcohol and tobacco, amongst others.

The revised version of the 2022 Draft Rates Bill, as issued by Treasury on 1 April 2022, includes the temporary reduction in the general fuel levy and consequential amendments to the levy on biodiesel, which will temporarily decrease to R1.10 per litre over the two-month period between 6 April 2022 and 31 May 2022, alongside similar reductions in the value of diesel refunds for farming, mining and other eligible activities. It also contains the postponement of the date of the increase of the health promotion levy to 1 April 2023.

The revised bill can be accessed here, whilst the media statement issued by Treasury can be accessed here.

12/05/2022