Three more interim and a final report are awaited. Reduced rates of direct taxes are fundamental to the reforms, to be recouped by economic growth, the broadening of the tax base, better administration and indirect taxes. It is important to encourage foreign investment, notably in tourism. Exchange control is a most important consideration. In the field of indirect investment, South Africa is an interesting emerging market.
Bonds show significant returns.
There is no capital gains tax, but disposals within five years are regarded as trading. Unit trusts are commonly used and are effectively tax transparent. There is no restriction on foreigners buying land. Not more than half the purchase price may be borrowed. The property is subject to estate duty.