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Industry News

16 Feb 2017

Will there be relief for property owners in the Budget?

Herschel Jawitz, CEO of Jawitz Properties does not expect any direct relief for property owners or buyers in the upcoming budget. “With virtually no economic growth in 2016, Treasury will be hard pressed to offer any tax relief in the residential property sector,” says Jawitz. The two areas for tax relief are to either reduce...
16 Feb 2017

Activity in African capital markets shows significant decline in 2016

2016 marked a challenging year for African equity markets in the wake of lower economic growth and political upheaval around the globe, largely as a result of the US elections cycle and the Brexit vote. African equity capital markets (ECM) broke a streak of three successive years of growth, recording a decline in overall ECM...
16 Feb 2017

Budget 2017: Greater than the sum of its parts

By Lesley Bosman, Associate Director: Tax Technical at KPMG in South Africa. Finance Minister, Pravin Gordhan and the National Treasury, have their work cut out for them in the 2017/18 financial year.
15 Feb 2017

Now is the time for a pro-SME Budget

Any measure that can boost the local economy beyond the projected 1.1% growth is at the top of the 2017 National Budget Speech wish-list for South Africa’s vital small and medium enterprise (SME) sector. Coupled with the hope that there is no further political turmoil, the ideal scenario for existing and aspirational SME owners would...
15 Feb 2017

December retail trade held steady by clothing sales

By Jason Muscat, FNB Senior Industry Economist. December retail trade sales expanded 0.9% year-on-year, more or less in line with expectations. As had been expected, the month-on-month number dropped sharply, falling -2.3% on a seasonally adjusted basis, largely as a result of preemptive Christmas shopping taking place in November, particularly on Black Friday.
15 Feb 2017

Focus shifting from wealth taxes to fiscal accountability

Finance Minister Pravin Gordhan is under increasing pressure to extract more wealth taxes when he delivers his budget on 22 February. But South Africans are already heavily taxed compared to citizens of our BRICS (Brazil, Russia, India and China) peers.
15 Feb 2017

What can South Africans expect from the 2017 budget?

Eugene du Plessis, director and leader: Tax at Grant Thornton believes that Budget 2017 may well be the year for an increase in the VAT rate.
15 Feb 2017

SA's inflation showing signs of easing

By Mamello Matikinca, FNB Economist. Today’s CPI survey indicated that inflation is turning the corner, rising 6.6% y/y in January from 6.8% in December.
15 Feb 2017

Increase in VAT rate will depend on extent of revenue shortfall

The question many are asking is whether an announcement will be made to increase the Value-Added Tax (VAT) rate when the Minister of Finance delivers his Budget Speech on 22 February 2017, says Lesley O’ Connell, PwC Indirect Tax Partner.  
15 Feb 2017

Waging war on the armyworm

After confirmation by the Department of Agriculture, Forestry and Fisheries (DAFF) that the recent pest infestation is in fact the fall armyworm, concerns have been raised around what the impact could be on the South African economy, says Paul Makube, Senior Agricultural Economist at FNB Business.

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