The Road Accident Fund board is taking steps to address deep-rooted governance and financial issues – from executive suspensions to tightening legal oversight – but Parliament is questioning whether it’s too little, too late.
The fuel levy hike remains in force, but a broader court challenge over the finance minister’s power to increase taxes continues.
Committee chairperson Songezo Zibi slams the Road Accident Fund’s leadership for dysfunction, defying court rulings, and turning oversight into a ‘mockery’.
UCT tax lecturer Ben Cronin argues that by allowing the minister to amend the income tax rates by announcement in the Budget, Parliament has overstepped its competence, eroding the doctrine that places legislative authority firmly in its hands.
Finance Minister Enoch Godongwana won’t reveal where the spending cuts or savings will come from but says South Africa must “do more with less”.
South Africa’s credibility among investors and ratings agencies will depend on whether the government meets the fiscal targets it has set, says Treasury.
The ANC and the DA present South Africans with different versions of what led to the decision to halt the increase.
Almost half the revenue from personal taxes is derived from people who earn more than R1 million.
Parliament’s finance committees last week decided they will not rubber-stamp National Treasury’s proposed amendments to the Financial Intelligence Centre Act (Fica) that are designed to prevent South Africa from being placed on the […]
The South African Revenue Service (Sars) has defended the way it handles VAT audits after this issue, as well as the time taken to resolve disputes, was raised by the Tax Ombud in […]
Parliament’s finance committees have resolved that their respective chairpersons will engage directly with Finance Minister Enoch Godongwana on legislation to make the Office of the Tax Ombud (OTO) “more clearly” financially and operationally […]
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
The 10 days of unrest in KwaZulu-Natal and parts of Gauteng in July last year wiped out the South African Special Risk Insurance Association’s cumulative retained earnings of more than R8 billion, incoming […]
Robert Vivian, professor of finance and insurance in the School of Business Sciences at Wits University and a member of the Free Market Foundation’s Rule of Law Board of Advisors, holds nothing back […]
National Treasury has proposed lowering some of the levies that FSPs will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill, to reduce the impact on small […]
Parliament’s Standing Committee on Finance has tasked National Treasury with producing a report on how the Financial Sector and Deposit Insurance Levies Bill will impact consumers and small entities. Read: FSPs face paying […]
Lloyd’s of London believes it is likely there will be a recurrence of last year’s riots, and has hiked its reinsurance premiums paid by the South African Special Risk Association (Sasria). Sasria briefed […]
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