Managers of Wealth Africa

Double tax warning for homeowners in one of South Africa’s largest cities

This new levy is expected to bring in over half a billion rand, but it will come at a steep cost to residents already struggling with high municipal bills.

VAT hike officially suspended in South Africa

It ruled that the increase in VAT is suspended pending the passing of legislation regulating the VAT rate.

What SARS says about the VAT hike reversal

Despite receiving support to narrowly pass the budget in parliament, the minister reversed his decision following widespread public criticism of the move and effectively withdrew the budget.

Bad news for anyone paying income tax in South Africa

Sanisha Packirisamy, Economist at Momentum Investments, said that the rolling back of VAT will bring some relief to consumers, but warned that taxpayers are still on the hook for R18 billion.

Decision to introduce Vat rate change ‘cannot be interdicted at this stage’

Relief sought by DA and EFF ‘lacks merit’ – Godongwana.

Treasury stopping VAT increase in South Africa

This is in place of the proposed 0.5 percentage point increase to VAT announced in the Budget in March and passed in the fiscal framework earlier in April.

Godongwana sees no alternative to VAT hike for South Africa

The increase is scheduled to take effect on May 1.

VAT scam warning in South Africa

The latest VAT phishing scam goes beyond banking clients and target anyone with an account or subscription where VAT is payable.

Final nail in the coffin of the VAT hike in South Africa – report

The report’s adoption is the first of several steps in implementing the controversial 2025 budget, with the tabling of the Tax Amendment Bill to follow.

New tax directive system to impact expats’ retirement

It’s essentially where they’ve stated that you have now in 2022 done your tax emigration by way of obtaining a tax clearance of emigration PIN [Tax Compliance Status PIN number], but this PIN is no longer as such.

Parliamentary budget office shreds VAT hike

Set up to analyse fiscal policies, the PBO says the Treasury is oblivious to the country’s growing inequality

Edward Kieswetter’s hit list

According to Tax Consulting SA, SARS is countering these complexities by investing heavily in automation and data-driven insights

SARS coming after bank accounts in South Africa

This includes monitoring South Africans’ bank accounts, which SARS has used to identify taxpayers whose lifestyles don’t match their tax contributions.

Major VAT warning for South Africa

The report’s adoption is the first of several steps in implementing the controversial 2025 budget, with the tabling of the Tax Amendment Bill to follow.

Edward Kieswetter’s R450 billion ‘gift’ to taxpayers

This brings the collected net amount to R1.855 trillion, which is almost R8.8 billion higher than the revised estimate in the 2025 Budget and R114.0 billion more than last year’s R1.741 trillion.

South African panel backs fiscal plan, wants Vat-hike review

‘We must make it clear that we have not amended the fiscal framework,’ but have requested the minister to reconsider the VAT issue and try to find alternative ways to raise revenue, Joseph Maswanganyi said.

SA’s tax take outperforms

Sars collected R1.855trn in the fiscal year through March.

Windfall tax: Banks pay FG N205bn, owe N600bn

The last two are the parent companies of Stanbic IBTC Bank and Guaranty Trust Bank, respectively.

The salary increase you need to survive the tax changes for 2025

After careful consideration, the government has still opted to increase VAT, but now only by 0.5%pts in 2025, and a further 0.5%pts in 2026.

Edward Kieswetter is coming after these taxpayers in South Africa

Total taxes paid amount to about R1.5 trillion, leaving R1 trillion unaccounted for.