South Africa

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South Africa quick facts/ united states

  • Population: 53.0 million/316.4 million
  • GDP: $596.5 billion/16.8 trillion
  • GDP growth: 1.9%/1.9%
  • GDP Per Capita: $11,259/$53,101
  • Unemployment: 25.3%/7.5%
  • Inflation: 5,8%/1.5%
  • Foreign Direct Investment: $8.2 billion/$187.5 billion

Legal System

Transparency means the government gives insight to the country on what they are doing. South Africa is ranked 67th out of 177 countries in Transparency. Contracts are secure and well protected. President Zuma was re-elected in 2014 and he is transparent

Competitive markets

South Africa currently produces half the worlds economic output. They have become a major driver of the global economy. They are also a major driver that forces for change in the developing world. They are becoming an economic force in this fast moving global economic.

Limits on government regulation

Public expenditures have 32.6 percent of domestic production. Government debt is 45 percent of the GDP. The overall tax burden is 25.8 percent of domestic income.

an efficient capital market

There is no minimum capital required. only a maximum capital is required. Completing licensing requirements takes about a month. Labor regulations are not efficient. Labor market lacks flexibility. The government has eliminated price controls on most items.

monetary stability

It takes 5 procedures and 19 days to launch a company. Completing licensing requirements takes about a month. The monetary is very unstable.The government has eliminated price controls on most items.

low tax rates

Company income subject to tax is seen like taxable income for people. The tax is imposed on net profits.Rules for taxing companies may be different from rules for taxing. Corporate tax rate is 28%. Individual income tax minimum is 0%, maximum is 41%. There is no payroll tax.

Free trade

The average tariff rate in South Africa is 4.2%. The government cancelled investment treaties with Germany, Spain, and a few other countries in 2013.