Managers of Wealth Africa

Why South Africa should cut taxes in 2023

South Africa has a progressive tax system with one of the highest rates in the upper-income tax brackets (45%).

January tax deadline warning for South Africans

SARS encourages taxpayers to use the revenue collector’s eFiling or the SARS MobiApp, which is a convenient and safe online method to transact with the revenue service.

Betting firms to pay taxes daily as KRA tightens noose

Speaking on the first day of a public hearing on the Financial Year 2023/24 budget, Dr Kiptoo said that KRA had made these improvements on tax administration for optimal collection.

Taxman misses revenue target by Sh32.2bn in first five months

The worst-performing tax head was the income tax, which recorded a shortfall of Sh30.4 billion, pointing to a tough environment where earnings by companies and workers were depressed

Safaricom reveals tax fears in plan to hive off M-Pesa

The telco says it will pursue government tax waivers before proceeding with the plan to create a new group structure that will see M-Pesa and telecommunications business run as separate entities.

Taxpayers to spend Sh24.8bn on Nairobi Expressway

The Ministry of Water and Sanitation was one of the beneficiaries of an additional budget allocation on the highway.

Nigeria’s 30% corporate tax is one of the highest in world – report

Current tax regime is stifling investment and economic growth, says CPPE director

How January taxes will hit consumers, companies

Banks and telcos have been displaying the new lower charges

Uganda rules out tax hikes, new fees for next fiscal year

Focus will be on implementing reforms, enhancing efficiency in public sector

KRA tax amnesty plan expires this weekend

Businesses and individuals that disclose and pay the pending tax liability within the second year of the programme will receive remission of 50 percent while payments that come in the third year will have 25 percent relief.

Tripled property, shares sale taxes begin Sunday

The five percent CGT was reintroduced in 2014 and the government hopes that the latest move will result in higher tax revenues to help in financing the Sh3.3 trillion budget.

Nigeria’s VAT collection hits $1.4bln in Q3 2022

Arts, entertainment, recreation supply activities post highest growth rate

Nigeria Rakes N810.19bn From Company Income Tax in Q3

On a quarter-on-quarter basis, the arts, entertainment, and recreation activities recorded the highest growth rate with 93.33 per cent, followed by Agriculture, forestry, and fishing with 75.38 per cent.

Incentives to firms shift tax load to individuals

Kenya scored 7.6 on the distribution of tax burden and progressivity and scored fairly at 6.88 on tax administration.

Boosting tax administration with technology

These have triggered peculiar issues that tax authorities around the world have had to grapple with.

Tax refund claims hit Sh109bn

The taxman has for years delayed making tax refunds to businesses and individuals citing audit delays of the claims made and inadequate cash from the Treasury at the back of perennial revenue shortfalls.

Insurance bosses start accounting system training

The training targets CEOs, board directors and heads of finance, ICT, risk and compliance and actuarial services.

‘Nigeria’s tax laws encourage investment’

He said further that, “I think with more publicity and engagement with private stakeholders, a lot of some of these challenges that are bedevilling us with investing in port infrastructure can be fixed.

Wealth, cash deposits low hanging fruit in expanding tax bracket

Income and consumption tax bases are already over-exploited, any further pressure on them may break the cord that holds the economy together.

SITA asks for interim audit from the Auditor-General to avoid dodgy books

SITA has been without a permanent CEO since 2019, but a process to fill the role has already begun.