Managers of Wealth Africa

Tax hikes on the cards for the rich in South Africa

These initiatives and the under-resourced sectors of education, healthcare and social services need considerable funding.

GRA Domestic Tax Revenue Department collects GH¢82m in 2023

The department collected GH¢82.295 billion in 2023 as compared to GH¢53.444 billion collected in 2022 representing a total revenue percentage of 73 to the National coffers.

NCC wants states to cut telecom taxes

The EVC acknowledged the challenges associated with the quality of services from Mobile Network Operators and Internet Services Providers

Tax hike warning for South Africa – including big changes for remote workers

With this in mind, the minister warned of tax hikes and a decrease in government spending in the upcoming 2024/25 financial year.

EABL profit drop reveals impact of 24-hour taxes on manufacturers

This was a departure from the previous monthly remittance which had to be made by the 20th of every month.

South Africa is running out of accountants

In the latest edition of the Critical Skills list, Accountancy, specifically auditing and financial analysis, is in high demand in South Africa.

Big tax risks for South Africa – as countdown to Budget 2024 begins

The finance minister has already conceded that the 2024 budget will be a challenging one

Tax hike warning for 2024

Consumers in South Africa are in a tight space now for personal income tax.

Spirits imports decline as higher taxes hit demand

On July 1, 2022, the common external tariff (CET) on imported spirits charged by all the East African Community member states was increased from 25 to 35 percent.

US firms enjoy billions in savings from Ruto tax cut

US-based tower firm American Tower Corporation (ATC) also reported tax savings against the backdrop of a public backlash locally over mounting taxes and levies.

We will continue to engage Ofori-Atta, Cabinet to review some taxes in 2024 Budget – AGI

Some tax exemptions were on importations of raw materials

Year of taxes, fees and fines as Ruto ramps up collections

The introduction of 1.5 percent housing levy paid by salaried employees, and which is matched by employers, the doubling of value added tax (VAT) on petroleum products to 16 per cent

This tax is not working in South Africa

The researchers said that this corresponds with other studies that have shown that nutrition interventions targeting specific goods can lead to other adverse compensatory behaviour

President Ruto plans to raid taxpayers for extra Sh362bn in 2024

Revenue performance will be underpinned by the ongoing reforms in tax policy and revenue administration measures geared towards expanding the tax base

Single paybill lifts non-tax collection by Sh8.6bn

Increased collections of A-I-A helped compensate for the missed targets for tax collections as the economy continues on a rough patch characterised by a weak shilling and global shock.

Kenya out of debt distress on painful taxes — President Ruto

Without expounding, he said that his government has had to cut expenditures and defer the implementation of critical development programmes to stabilize the economy.

Improved VAT revenue in Q3 ‘23

The notable increase in revenue from VAT imports can be attributed to the CBN’s upward review of the exchange rate for duty and tariffs paid on items imported into the country.

Tax tribunal acknowledges revenue reforms in Abia

Governor Otti said that his government’s strategy towards taxation is to administer it with a human face.

State tables Bill in Parliament to salvage housing tax

The judges said the government had failed to explain the imposition of the levy or a legal framework to anchor the tax, contrary to the constitutional requirement that the enactment of laws must be supported with a rational explanation.

Taxman escalates fight with lawyers

The same amount is then credited to the law firm’s iTax account which can be claimed when they are paying their taxes.