AML/CFT | Strict enforcement will be the new normal
The need to get South Africa off the grey list has seen the FSCA beefing up its supervisory and licensing capacities.
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Proposal to tweak ‘bona fide inadvertent error’ in favour of SARS
The move will limit taxpayer defences that rely solely on claiming an unintentional mistake.
FSCA discloses approach to regulating a rapidly changing financial sector
Unathi Kamlana says the Authority will support the integration of advanced technologies and strengthen frameworks for consumer protection, cyber resilience, and financial inclusion.
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.
Treasury and SASSA granted leave to appeal ruling on SRD grant
‘Due to the complexity and seriousness of this case … it deserves the attention of the Supreme Court of Appeal,’ says Judge Leonard Twala.
SA’s path beyond the grey list: key challenges and opportunities ahead
While South Africa is on track to exit the grey list by October, National Treasury emphasises the importance of long-term improvements and continuous progress in financial regulation.
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.
VAT hike | Guidance for businesses on supply rules and timing
How the general and specific time-of-supply rules will determine whether transactions fall under the existing 15% VAT rate or the increased rate.
Two (?) VAT hikes and no adjustments to the income tax brackets
A comprehensive round-up of the tax proposals affecting individual taxpayers and consumers.
VAT hike scaled back, but social grants take the biggest hit
With the government now R8.6 billion short, planned social grant increases have been slashed – while Home Affairs and border management also see deep budget cuts.
KZN Treasury’s R2.4bn loan request raises more questions than answers
As the KwaZulu-Natal government scrambles to keep Ithala afloat, its urgent request for a R2.4 billion loan from National Treasury sparks confusion – especially given an earlier government guarantee.
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.
ASISA rejects proposed ‘dualistic nature’ of CIS portfolios
ASISA warns that reclassifying collective investment scheme portfolios as profit-making schemes will undermine years of established investment policy.
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.
SA won’t get off the grey list in June – Treasury now aiming for October
South Africa is yet to demonstrate ‘sustained effectiveness’ in investigating and prosecuting serious money laundering and terrorist financing activities
Proposed VAT increase: fiscal necessity or economic catastrophe?
Instead of hiking VAT, the government could fix its tax collection problems, improve state resource management, and stimulate the economy to boost revenue.
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.
