The South Sudan Financial Act 2024/2025 introduced several changes within the Taxation Act across several tax heads for which various implications were triggered from a tax perspective in South Sudan.
The Act was assented into law on November 25th, 2024. The South Sudan Revenue Authority (SSRA) through circular number RSS/SSRA/J/002/CG/GEN/VOL. II/005 issued on November 27th, 2024, operationalized the Financial Act.
Based on this Circular, the changes in the law became effective on 2 December 2024 marking significant updates to the financial and taxation landscape in South Sudan.
The enactment of the 2024/2025 Financial Act, brought forth changes to Business Profit Tax (BPT), Withholding Tax (WHT), Excise Tax, Customs Duties, and other rates applicable to various sectors.
What this means for you.
- As key changes have been made following the enactment of the Financial Act of 2024/25, taxpayers ought to be updated with the changes and incorporate them to take into consideration the date on which the changes took effect.
- The changes have affected the monthly WHT and Excise Tax returns from the month of December 2024 and onwards. They also impact the BPT return for the Fiscal Year (FY) 2024.
- KPMG is available to assist with any matters that may arise because of the above and advise further.
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