There is one truth about change: It’s going to happen. Technology, consumer demand, globalization, competition, and the economy—all of these factors contribute to the need for every business to move with the times in order to survive. Companies that want to grow, have to change to remain viable and continue growing. That’s the very nature of growth—it brings about and demands change.
The outcome of the national elections is a clear indication that, while the ANC lost regional support, many voted in effect for Ramaphosa nationally. This gives the President the mandate he requires to put his reformist policies in place.
Recently released, the United Nations’ global assessment of environmental health is grim: biodiversity declining at an unprecedented rate, one million species at risk of extinction, human populations in jeopardy if the trajectory is not reversed.
With the imminent introduction of Carbon Tax, it is important to know how this will affect your business. While your business may not be directly affected by the tax, your suppliers may well have to pass on additional costs incurred as a result of it. So, let’s explore who and what will be subject to the tax.
A number of clients often have difficulty accessing SARS documents on the eFiling system. This is mainly due to incompatible browsers. The SARS eFiling website is optimally viewed in Internet Explorer (IE) versions 8+ browsers.
President Cyril Ramaphosa has appointed Mr Edward Kieswetter as the Commissioner for South African Revenue Service (SARS) with effect from 1 May 2019 for a term of five years. This appointment flows
Tourism is often promoted as one of the key sectors that will drive growth in South Africa. We take a look at an extract from a Stats SA article to get an idea of what tourists spend their money on:
The UK’s impending departure from the European Union will bring change for businesses of every size and sector. The UK is one of South Africa’s largest trading partners. While some companies are already planning for the challenges and opportunities ahead, all firms – not just those directly and immediately affected – should be undertaking a Brexit 'health check', and a broader test of existing business plans.
The carbon tax will be implemented on 1 June 2019. It gives effect to the polluter-pays principle, prices greenhouse gas emissions and aims to ensure that businesses and households take these costs into account in their production, consumption and investment decisions. The tax will assist in reducing emissions and ensuring South Africa meets its commitments under the 2015 Paris Climate Agreement. It will be reviewed after three years.
The employment tax incentive was introduced on 1 January 2014 to share the cost of hiring young, inexperienced workers between employers and government. The incentive was reviewed and extended in 2016 and 2018. The most recent review found that the incentive’s positive benefits are more pronounced in small firms.
There has been a lot of banter about Tom Moyane’s time at SARS. The recent SARS commission has highlighted several issues and, in the recent budget, a number of commitments were made in this regard. We summarise these for you below
Corporate governance is under scrutiny like never before in South Africa. While most people believe that it is only appointed directors of a company who can be held personally liable, the Companies Act provides for a wider definition and includes Prescribed Officers.
In his recent State of the Nation speech President Cyril Ramaphosa made mention of regenerating industrial hubs with an assortment of incentives, to incentivise investment in inter alia rural economies. We have a number of existing SEZ‘s and it is worth revisiting these to explore the
In his recent SONA, President Cyril Ramaphosa described a scenario of building an all-inclusive economy and providing decent jobs for the unemployed youths. A lot of what he is proposing is aligned to the United Nations (UN) SDG’s. Below is an extract from the UN SDG’s 8 (there are 17 in total)
It seems that load shedding is back, resulting in decreased productivity and financial losses for business, especially small businesses.
In the past few years we haven’t been sure who would present our budget speech let alone predict what was to be presented! While there are huge expectations that Minister Tito Mboweni’s maiden full budget speech will deliver answers to all our problems, political and financial constraints will come into play. So, what are some of the key issues:
The below is an extract from an article with the same title written for Fin24.com - for link to article, please click here
Treasury has announced that Tito Mboweni’s budget speech will be held on the 20th February 2019 at 14h00. This year's budget will be one of the more challenging balancing acts Treasury has to perform. With the backdrop of an election year, the need to stimulate the economy and addressing the financial needs of ailing State Owned Entities makes it really tough for those tasked with coming up with a meaningful budget .
Reminder: Penalties for outstanding corporate income tax returns to kick in soon
The beginning of a new year is as good a time as any to review your estate plan. More specifically, it is important to make sure all your affairs are in order from an administrative point of view. As part of your estate plan it is important that you make sure that inter alia the following documents are easily available:
Contrary to popular practice, a business plan is not a means to securing financing. Instead it is a step by step guide to running your business and creating the product or service that will make it in the marketplace. Like any other map, your plan will have to be adjusted according to your vision for the company, conditions and opportunities in the marketplace and your business’ current condition.
Please ensure you make note of these key dates over the holiday period to ensure compliance.
Sustainable Development Goals are the blueprint to achieve a better and more sustainable future for all. They address the global challenges we face, including those related to poverty, inequality, climate, environmental degradation, prosperity, and peace and justice.
The Minister of Finance tabled the Carbon Tax Bill in Parliament on 20 November 2018, giving effect to the announcements made in the 2017 and 2018 Budget and by the Minister in his MTBPS speech in October. In tabling the bill, the Minister stated that “climate change poses the greatest threat facing humankind, and South Africa intends to play its role in the world as part of the global effort to reduce greenhouse gas emissions”. The Carbon Tax Bill, and related measures, will enable South Africa to meet its targets as agreed in the Paris Agreement.