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Africa|Financial
Africa|Financial
africa|financial

SA top income tax rate is among world's highest

30th May 2025

     

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Finance Minister Enoch Godongwana avoided raising the personal income tax rate in his 2025 budget. Personal income tax collections as a percentage of gross domestic product are already higher than most developing countries, he said.

A comparison of the top income tax brackets across 132 countries, shown in the chart, shows that South Africa’s top rate of 45% ranks among the highest in the world. It is the highest of the African countries, listed by PwC in its tax summaries.

The government introduced the 45% tax bracket in the 2017/18 financial year for individuals with an income of R1.5-million or more. That has since increased to R1.8-million or more.

Ninety-eight per cent of South Africa’s revenue comes from taxes, with personal income tax accounting for 40% of the total tax collected.

Edited by Creamer Media Reporter

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