Godongwana given 30 days to revise Budget after VAT reversal
The ANC and the DA present South Africans with different versions of what led to the decision to halt the increase.
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Godongwana says VAT court challenge is politics in legal clothing
The finance minister defends the VAT hike as an urgent fiscal necessity, warning that suspending it could blow a R13.5bn hole in the Budget.
Godongwana reassures Ithala’s depositors with R2bn guarantee
The minister’s address to the FSCA conference also touched on regulation, South Africa’s G20 presidency, political tensions over the Budget, and economic growth.
Higher VAT will impact business operations and consumer spending
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.
SRD grant is a temporary relief measure, says Social Development department
Financially squeezed government wants to overturn a judgment declaring aspects of the SRD regulations unconstitutional.
Taxed out: why South Africa’s spending problem can’t be ignored
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.
Will a 2% VAT hike fix the Budget – or break consumers?
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.
Budget 2025: can debt stability lay the foundation for growth?
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?
Tax collections miss forecasts – will taxpayers bear the burden?
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.
Godongwana defends the banks’ right to close accounts
Financial institutions will participate in evaluating improvements to Conduct Standard 3 of 2020, aligning these efforts with the COFI Bill.
Godongwana signals gradual approach to NHI funding
Progress with implementing National Health Insurance will be contingent on the fiscal situation.
SARS will tighten the compliance screws to hit R1.84 trillion tax target
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.
Fiscal challenges: insights from the 2024 Medium-Term Budget Policy Statement
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.
Ombud Council’s first formally tabled report highlights reforms in financial dispute resolution
Key achievements include the creation of the National Financial Ombud Scheme and the new FAIS Ombud Rules.
Individual auditors can be fined up to R10m for improper conduct
The Minister of Finance has re-issued the Notice setting out the maximum fines, after inserting the omissions.
Solidarity and BHF file court papers challenging NHI
The trade union says moves are afoot for members of the National Assembly to bring an application against the NHI Act.
Can the basic income grant be dismissed as simply ‘a vote-catching ploy’?
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.
