The Minister of Finance cites an average 19% VAT among peers to argue that South Africa’s 15% rate is low, but isolated comparisons miss key factors such as exemptions, corporate rates, and overall business costs.
Financially squeezed government wants to overturn a judgment declaring aspects of the SRD regulations unconstitutional.
Experts slam the idea of a VAT increase, pointing to a record tax burden and bloated expenditure. From uncollected billions to inefficient governance, the real fix lies in reining in waste, not squeezing taxpayers.
The VAT hike could add R58bn to government revenue, but with coalition partners clashing over its impact on ordinary South Africans, the debate over how to fund critical services without deepening the cost-of-living crisis is far from settled.
With South Africa’s debt-to-GDP ratio at 75.1%, Finance Minister Enoch Godongwana faces a tough balancing act – can his Budget Speech reassure investors and spark economic growth?
A dip in corporate and VAT revenues has left a R10bn hole in expected tax collections. As the Budget approaches, Treasury faces a difficult balancing act.
Financial institutions will participate in evaluating improvements to Conduct Standard 3 of 2020, aligning these efforts with the COFI Bill.
Progress with implementing National Health Insurance will be contingent on the fiscal situation.
The MTBPS shows tax revenue will be below the Budget estimates, but SARS is adamant it will do everything in its power to collect as much money as it can.
The Medium-Term Budget Policy Statement reveals a budget surplus and reduced wage bill, but it warns of ongoing financial pressures due to modest economic growth projections.
Key achievements include the creation of the National Financial Ombud Scheme and the new FAIS Ombud Rules.
The Minister of Finance has re-issued the Notice setting out the maximum fines, after inserting the omissions.
The trade union says moves are afoot for members of the National Assembly to bring an application against the NHI Act.
Like NHI, BIG has been on the government’s agenda for decades. An analysis shows the extent to which the ANC can look to other parties to support its implementation.
In an interview this week, President Ramaphosa was asked whether South Africans will pay higher taxes to fund NHI.
Bank Zero’s chief executive agrees that the Corporation for Deposit Insurance has the potential to boost the competitiveness of the new digital banks.
National Treasury will work with the Department of Health on the funding scenarios outlined in the 2017 White Paper.
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