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Tag Archives | Parliament

july-unrest

R8bn in retained earnings wiped out in days

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 Sasria chief executive Mpumi Tyikwe said. In a briefing to Parliament’s Standing Committee on Appropriations this month, Sasria provided a breakdown of […]

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tax-burden

Draft Financial Sector Levies Bill dubbed ‘increased taxation by stealth’

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 in an article titled Taxation by Stealth published in Biznews. In his view, the Draft Financial Sector Levies Bill 2021 is possibly […]

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rands

Treasury proposes reducing FSP levies

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 entities. Read: FSPs face paying regulators much higher levies Vukile Davidson, Treasury’s chief director of financial sector policy, told Parliament’s Standing Committee […]

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rands

MPs ask Treasury for report on impact of new financial sector levies

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 regulators much higher levies Treasury, the FSCA and the Prudential Authority (PA) this week briefed the committee on their responses to submissions […]

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2021-July-riots

Lloyd’s believes it’s likely SA will see repeat of July riots

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 the National Council of Provinces’ Select Committee on Finance this week. Incoming chief executive Mpumi Tyikwe told the committee that Sasria would […]

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