Page 42 - Taxation F6 - The South African Tax System
P. 42

Principal Sources Of Revenue Law And Practice






          • Income tax was introduced in 1914 through the


               income tax No 28  originating in the New south



               wales act of 1985,after numerous amendments


               income tax act no 58 of 1962 came into effect.




          • Court cases have also been used to decide


               taxability of income.




          • VAT was  introduced in South Africa in its current


               form on 29 September 1991 at a rate of 10%.









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