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 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.
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
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:
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:
Please ensure you make note of these key dates over the holiday period to ensure compliance.
“I can promise my new colleagues in the National Treasury that
President Ramaphosa recently announced measures to stimulate economic activity. While acknowledging the tough economic environment we are faced with, he appears very clear on the direction we need to take in order to revitalise our economy albeit over a period of time. The desired outcomes were outlined as follows:
The South African economy slipped into recession during the second quarter of 2018, shrinking by 0,7% quarter-on-quarter. This followed a revised 2,6% contraction in the first quarter of 2018.
The recently gazetted NHI Bill has caused much debate. While it cannot be disputed that as a society we need to ensure that all have access to quality healthcare , it has to be done on a successful economic basis. Last year, the Davis Tax Committee commented as follows:
Shock figures from STATS SA reveal that our economy has shrunk by 2,2% in q1 2018. The following extract from Stats SA paints the picture:
While it makes sense to review one’s estate plan on an annual basis, there are some key events which should ring a bell for an estate planner to revise their estate plan immediately.
The Davis Tax Committee (DTC) has announced the conclusion of its work and the publication of the following four final reports: