Managers of Wealth Africa

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.

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.