Editing Union of South Africa

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Since the early-1990s, South Africa has moved to reduce the government's role in the economy and to promote private sector investment and competition. It has significantly reduced tariffs and export subsidies, loosened exchange controls, cut the secondary tax on corporate dividends, improved enforcement of intellectual property laws, cut unnecessary government spending, and significantly relaxed restrictive labor laws. South Africa is the continent's largest energy producer and consumer. The government is considering privatizing several state-owned industries, including Eksom (Electricity Supply Commission), Iscor (South African Iron and Steel Corporation), Foskor (Phosphate Development Corporation), SASOL (South African Coal, Oil, and Gas Corporation), and Soekor (Southern Oil Exploration Corporation), as well as state-operated transport, postal, and telecommunications services, but to date this had not happened yet. South African society remains divided on these policies, and many of the policies face strong opposition from organized labor.
Since the early-1990s, South Africa has moved to reduce the government's role in the economy and to promote private sector investment and competition. It has significantly reduced tariffs and export subsidies, loosened exchange controls, cut the secondary tax on corporate dividends, improved enforcement of intellectual property laws, cut unnecessary government spending, and significantly relaxed restrictive labor laws. South Africa is the continent's largest energy producer and consumer. The government is considering privatizing several state-owned industries, including Eksom (Electricity Supply Commission), Iscor (South African Iron and Steel Corporation), Foskor (Phosphate Development Corporation), SASOL (South African Coal, Oil, and Gas Corporation), and Soekor (Southern Oil Exploration Corporation), as well as state-operated transport, postal, and telecommunications services, but to date this had not happened yet. South African society remains divided on these policies, and many of the policies face strong opposition from organized labor.
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South Africa's currency is the South African Pound. It is one of the world's most actively-traded market currencies, and is also among the strongest and most stable. Currently, the South African Pound is worth only slightly less than the British pound.
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South Africa's currency is the South African Pound. It is one of the world's most actively-traded market currencies, and is also among the strongest and most stable. As of 2008, 1 pound is equal to almost 1.6 U.S. dollars.
The personal income tax is a flat-rate 20%, while the corporate income tax rate is 35%. Provincial governments obtain revenue through sales taxes (the rate varies by province) and/or a small poll (head) tax (the rate of which also varies by province). Some local governments also have property taxes. Inheritance tax was abolished in 1997.
The personal income tax is a flat-rate 20%, while the corporate income tax rate is 35%. Provincial governments obtain revenue through sales taxes (the rate varies by province) and/or a small poll (head) tax (the rate of which also varies by province). Some local governments also have property taxes. Inheritance tax was abolished in 1997.

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