Minister of Finance Archives

08 Jun 2021

Public invited to submit comments on FSCA candidates

By Staff Writer

The Financial Sector Conduct Authority (FSCA) Shortlisting Panel invites the public to submit comments, if any, on two candidates it intends to recommend to the Minister of Finance (Minister) for consideration for appointment to the positions of Deputy Commissioners of the FSCA.

24 May 2021

Minister of Finance appoints first Ombud Council Board

By Staff Writer

The Minister of Finance, Mr Tito Mboweni, has appointed the first Ombud Council Board and a Chief Ombud for the Council, giving effect to the new financial Ombud system in terms of the Financial Sector Regulation Act No. 9 of 2017 (FSR Act). The Minister has appointed Ms Eileen Meyer as a Chief Ombud for the Ombud Council as a transitional measure, until a full-time Chief Ombud is appointed.

17 Feb 2021

PIC Amendment Act 2019 promulgated

By Staff Writer

The PIC Amendment Act, 2019, has been promulgated and published in the Government Gazette, after being signed into law by President Cyril Ramaphosa.

20 Jan 2020

Budget tips - make your voice count

By Janice Roberts

The Minister of Finance Tito Mboweni will deliver the 2020 National Budget on 26 February. As usual the budget allocation always aims to strike a balance amongst competing national spending priorities. It is in this context that Minister Mboweni invites South Africans to share their views about economic conditions and other issues they would like...

30 Oct 2019

MTBPS may shock ratings agencies as fiscal policy framework weakens

By Janice Roberts

By MoneyMarketing. The Medium Term Budget Policy Statement (MTBPS) released today by the National Treasury shows that the fiscal framework has weakened substantially since the February budget – and may even shock the ratings agencies, especially where issues like national debt is concerned.

30 Oct 2019

MTBPS 2019 – Mboweni dodges Eskom decisions

By Janice Roberts

By MoneyMarketing. In his Medium Term Budget Policy Statement (MTBPS) speech to Parliament, the Minister of Finance, Tito Mboweni, largely dodged important Eskom decisions. The power utility, which supplies 95% of the country’s electricity, is viewed as the biggest risk to SA’s economy. The minister made is clear that only when he was convinced that...

15 Feb 2019

2019 National Budget predictions: An increase in the budget deficit?

By Janice Roberts

By the tax team at Norton Rose Fulbright. In the last three annual budget speeches delivered by the Minister of Finance, we have seen increases in the following taxes: an increase in the VAT rate from 14% to 15%; an increased rate of personal income tax, referred to as the new super tax bracket of 45%...

09 Oct 2018

OUTA welcomes President’s decision on Nene

By Janice Roberts

The Organisation Undoing Tax Abuse (OUTA) welcomes the decision by President Cyril Ramaphosa, to accept the resignation of Finance Minister Nhlanhla Nene.

13 Aug 2018

Treasury comments on measures considered for igniting economic growth

By Janice Roberts

Today, the National Treasury commented on measures being considered for igniting economic growth in South Africa. “In his statement to the nation on July 31, President Cyril Ramaphosa made it clear that the funding for measures being considered to ignite economic growth would be done in a manner that ensured that government maintained fiscal prudence....

10 Aug 2018

Report on review of current list of zero-rated VAT items released

By Janice Roberts

The Minister of Finance today releases the report by the Independent Panel on the review of the current list of items that are zero-rated for VAT purposes for public comment by 31 August 2018.

26 Jun 2018

Insurance Act to commence 1 July: Treasury

By Janice Roberts

The Minister of Finance, Mr Nhlanhla Nene, has determined that the Insurance Act (No. 18 of 2017) will commence on 1 July 2018. The Act was assented to by the President on 18 January 2018.

04 Jun 2018

'New era for financial sector regulation in SA': Nene

By Janice Roberts

The birth of the Financial Sector Conduct Authority (FSCA) and the Prudential Authority (PA) marks the beginning of a new era for financial sector regulation in South Africa. This is according to the Minister of Finance, Nhlanhla Nene who spoke at the launch of the FSCA held earlier today in Pretoria.”It is an era where things...