News in South Africa 27th November: 1. Eskom hit stage 8 load-shedding: Energy analyst Chris Yelland said Eskom hit stage 8 power cuts according to the official national code of practice for load shedding. Speaking to reporters, Yelland said many people, including his family in Craighall Park, are experiencing 12 hours of load-shedding daily. “If […]
News in South Africa 21st November: 1. Sars APN impacts imports: On 1 December, the South African Revenue Service (Sars) will implement new advance payment notification (APN) requirements in a bid to combat illicit cash flows. The changes will impact all import payments valued at R50 000 and above. An APN is an application made by […]
News in South Africa 14th November: 1. SARS needs funds: The South African Revenue Service (SARS) will soon run out of ways to collect more taxes as tax hikes are not an option, and the factors limiting the country’s tax revenue are outside the service’s control. This is feedback from Deloitte Africa’s tax controversy leader, […]
News in South Africa 25th October: 1. Tax breaks for inverters and batteries: Electricity Minister Kgosientsho Ramokgopa said the government wants more businesses and households to opt for rooftop solar, and efforts are under way to push for a tax incentive to be extended to inverters and batteries part of solar PV systems. The minister […]
News in South Africa 20th October: 1. Tax filing season starts: The first deadline for the 2023 tax filing season is Monday (23 October), when non-provisional taxpayers must submit their annual tax returns. Taxpayers with more complicated financial affairs or different income streams have until 24 January next year. Taxpayers who have been auto-assessed but […]
News in South Africa 10th October: 1. Wrong side of the war: The war between Israel and Hamas could be another conflict in which South Africa is deemed to be on the wrong side. In a rand note, Investec Chief Economist Annabel Bishop said that the stronger-than-expected US payroll data saw the rand weaken to […]
News in South Africa 18th September: 1. Transnet costing economy R1bn daily: Last week, the Durban Chamber of Commerce and Industry called on Public Enterprises Minister Pravin Gordhan to remove Transnet CEO Portia Derby and other key executives, claiming their lack of service delivery is sabotaging business. This is the latest broadside against the state-owned […]
News in South Africa 12th September: 1. 200 000 public job cuts: President Cyril Ramaphosa has called an urgent but long overdue meeting with organised labour for Tuesday, as the possibility of a further wage freeze, job cuts, and more cuts to government services hang over the country. Federations were urgently advised of the meeting […]
News in South Africa 28th August: 1. Investors on edge: Capital markets are on edge over South Africa’s deteriorating fiscal outlook, say economists at the Bureau for Economic Research (BER), with government data on revenue expenditure out later this week likely to be of particular interest to investors. National Treasury is due to release its […]
News in South Africa 21st July: 1. Financial stress climbing: A survey of more than 35 000 people has revealed that 55% spend more than 40% of their take-home pay on debt repayments, while 37% say more than half their available income goes straight to servicing debt. Nearly 80% of respondents say that they “experience […]
