South Africa abolishes stamp duty

The South African government has completed the process of abolishing stamp duty.

From midnight on March 31st there was no stamp duty levied in the country, with several recent acts of legislation reducing the scope of the tax.

The South African Revenue Service revealed that the final provision for the duty - to be levied on leases of over five years duration - has now been terminated.

Only those already owing tax from before March 31st now have anything to pay.

Such a situation may encourage investors in South African property.

Those keen on investing in the country may also be encouraged by the attention that will be focused on it next year when it hosts the football World Cup.

Cities hosting games may attract particular focus, with these including major metropolitan centres such as Cape Town, Durban and Johannesburg.

Matches will also be played in less prominent cities such as Polokwane and Rustenberg.

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