Managers of Wealth Africa

Improved tax systems putting ‘real money’ into African economies

But the continent’s debt burden has ballooned.

SARS warning to taxpayers in South Africa: pay up, or face severe fines or prison

The tax experts said that SARS’ two-pronged strategy of assisting compliant taxpayers while clamping down on those who defy the system is being enforced with greater urgency.

115% income tax hike needed for NHI, and taxpayers paying for salaries not services

Economists at Nedbank noted in a research report that the current account balance may deteriorate in the remainder of the year, as imports are expected to outpace exports.

Major blow to VAT hopes in South Africa

Now that the VAT hike has been pulled, keeping the expanded basket in the budget would be detrimental to the entire fiscus.

Fight to block petrol tax increase for June

The legal challenge is a potential setback in a messy process that has unsettled investors.

VAT increase warning for South Africa

To compensate for this revenue loss, Godongwana cut some spending in the outer years of the MTEF and hiked the fuel levy to raise additional cash.

SARS nails one taxpayer for R30 million

The taxpayer in question is a successful businessman who owns several companies.

South Africa weighs more borrowing after tax hike plan dropped

South Africa’s Finance Minister Enoch Godongwana will deliver his third version of the budget to lawmakers at around 2 p.m. in Cape Town.

SA’s fiscal position to watch in Budget 3.0

No new taxes, except a possible fuel levy hike, say analysts.

Medical aid tax credits, fuel levies and VAT – what to expect in South Africa’s third budget

Most budget previews anticipate a much lower growth forecast, a wider budget deficit, sizeable cuts to spending programmes, and a host of smaller tax changes to make ends meet.

Google responds to South Africa’s tax threat

News platforms in South Africa have suffered significant losses over the last decade or so as the distribution of news content has become digital.

The Tax-Smart Evolution Of Cape Town As A Global Hub

South Africa’s well-respected tax framework enriched by robust international treaties, creates a transparent and secure environment ripe with opportunities for growth and prosperity in the region.

Godongwana says no to wealth tax

The minister of finance must consider various ways of raising revenue to plug the hole in Budget 3.0, but a wealth tax is not one of them.

Taxpayer battling with a crypto tax nightmare for months

The additional assessment was only placed on his profile at a later stage and could be verified as authentic.

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.