Tax collection in 2023/24 comes in at R10bn more than expected
SARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
A cyberattack not only removed his account from his tax practitioner’s profile but also led to an erroneous VAT refund being paid back to SARS.
Read moreSARS rakes in more from personal income and VAT, but corporate tax slumps by almost 9%.
A common misconception among influencers earning income from international sources is that payments from abroad are not subject to taxation in South Africa.
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
Here are the government’s proposals for PIT, the medical tax credits, the fuel levies, and the duties on alcohol and tobacco.
Many fund members are likely to withdraw the seed capital from their savings component.
The substantial tax increases would have to be implemented in an already tough economic environment, says a report by FTI Consulting.
Old Mutual weighs in on how the Budget is likely to affect the country’s credit rating, economic growth, and the capital markets.
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
Not providing tax relief will be a relatively easy way for a cash-strapped National Treasury to collect revenue.