Emerging Markets Rates and Currencies Handbook

Tax Summary – South Africa South Africa before interest is an resident and company, depreciation. (% SAretirement with reference to fund, etc repo rate with 60% ceiling of adjusted taxable income) * Interest deductibility limitation in section 23M (as briefly referred to under "other taxes") and 23N, part of Income Tax Act No.58 of 1962. Note: Citigroup Inc. and any of its affiliates do not provide accounting, tax, or legal advice. Please seek advice from a relevant licensed advisor. Source: Relevant legislation, publicly available sources Country Deductibility and Considerations Inter-Co Debt Offshore Bank Loans Offshore Local Borrowing Derivatives Equities