Managers of Wealth Africa

New tax could help with South Africa’s coronavirus recovery

As a result, funding the recovery requires innovative measures to redirect domestic savings.

A wealth tax – we’ve been here before

The NERI Report goes on to say that a wealth tax would play a strong complementary role to the extent that wealth transfer taxes

Need for creative tax policies amid recession

Measures to bolster aggregate demand through higher public spending incentives for businesses were however derailed by the COVID-19 fallout.

INSIGHT: No Capital Gains Tax Exemption under India–Mauritius Tax Treaty

Shailendra Sharma discusses an interesting case whereby an indirect share transfer triggered a sale by a Mauritius entity, with assets located in India, and the capital gains tax exemption under the India–Mauritius tax treaty could not be applied.

Wealthy taxpayers set to cough up R40bn

After the supplementary budget was presented, Sishi indicated that Treasury could implement tax increases of R20 billion over the next two years.

Government is planning to tax the super wealthy

Chief Director in the National Treasury Edgar Sishi told the joint committees on finance this week that plans were afoot to tax the super rich.

From Mauritius to South Africa; Here are the Top 10 Safe Havens for Businesses in Africa and What They Offer

Tax havens also have favourable regulations and general ecosystem that makes starting a business easy and profitable.

Don’t let tax take you by surprise when you invest offshore

South African tax residents are required to pay tax in South Africa on their worldwide income.

Tax collections down Sh57bn on corona reliefs, low sales

The Treasury also implemented tax reliefs from April to cushion businesses and workers from the economic shocks of the pandemic, which has sickened more than 6,000 persons and killed over 140, further thinning collections by KRA.

Nigerian govt merges CAC, Tax ID registrations

Last October, the World Bank listed Nigeria among the economies with the most notable improvement in the Ease of Doing Business.

Mboweni Says S. Africa Income, Company Tax Unlikely to Rise

The Treasury, Absa and Standard Bank declined to comment. Mboweni spoke to Standad Bank clients last week and Absa clients on Monday.

African countries efficiently tackling tax evasion and money laundering

The 2020 report covers 32 Global Forum member countries, and three non-members: Angola, Guinea Bissau and Malawi.

Pension funds tax: Panic or hunt for revenues?

We focus here on the Treasury tax on retirees even National Social Security Fund (NSSF) in a hunt for revenues, and by extension the underlying weakening of an already weak financial system.

Significant progress made in fighting tax evasion and illicit financial flows in Africa - OECD

The ongoing COVID-19 crisis will completely end any tolerance towards all forms of tax evasion,” said Maria José Garde, Chair of the Global Forum

Nigeria: Clarifications on significant economic presence concept released

FA19 introduced the SEP concept into Nigeria’s Companies Income Tax Act (CITA) for purposes of determining the scope of profits of nonresident/foreign companies (NRCs) that are deemed to be derived from

Facing The Crisis: The Role of Tax in Dealing With COVID-19

In times of distress, people look to governments for information, direction and protection.

Firms smile as VAT, Paye reduced

Kenya lowered its VAT from 16 per cent to 14 per cent as proposed by the East African Business Council

The ugly truth about the existing stealth-wealth taxes in SA

Balance sheet taxes can be materially more impactful than what taxpayers are expecting.

Dennis Davis: Why a wealth tax won’t work

Right now, there’s little scope to implement new taxes, including a wealth tax.

Taxpayers to bailout KQ as it sinks into a further $130m loss, and still grounded

The airline has run short of cash to finance its operations including maintenance of aircrafts, payment of leases and employee salaries.