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Pretoria - Gambling winnings above R25 000, including from the National Lottery, would be subject to a 15% withholding tax from April 2012, Finance Minister Pravin Gordhan said.
He said this was in line with the practice in a number of other countries, such as the US.
“I hope it will assist in discouraging excessive gambling. Despite the obvious merits of this argument, I expect vigorous debate during the parliamentary process,” Gordhan said.
- Fin24
He said this was in line with the practice in a number of other countries, such as the US.
“I hope it will assist in discouraging excessive gambling. Despite the obvious merits of this argument, I expect vigorous debate during the parliamentary process,” Gordhan said.
- Fin24
