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Minister of Finance

03 Apr 2018

SARS collects R1 216.6 billion in the financial year 2017/18

By Janice Roberts

The South African Revenue Service collected an amount of R1 216.6 billion in the financial year 2017/18. This was announced today at a press conference by the Minister of Finance, Nhlanhla Nene. “It should be noted that these are preliminary results, which will be subject to final audit. The preliminary result is very close within 0.06%...
29 Mar 2018

New twin peaks regulators established

By Janice Roberts

On 1 April 2018, South Africa’s financial regulatory system will fundamentally change, as two new regulators come into operation – the Prudential Authority (PA) and the Financial Sector Conduct Authority (FSCA). This implements a new Twin Peaks model of financial sector regulation in South Africa. National Treasury said in a statement today that the Minister...
19 Feb 2018

National Budget Speech 2018 – a difficult balancing act for Minister of Finance

By Janice Roberts

By Ruaan van Eeden, Head of Tax and Exchange Control at the Geneva Management Group. The National Budget Speech on 21 February this year is likely to attract more interest than it has on many occasions previously. South Africans have become accustomed to a National Budget characterised by inevitable increases in the so-called ‘sin taxes’...
05 Jul 2017

Minister of Finance set to take Public Protector Report on review

By Janice Roberts

The Minister of Finance, Malusi Gigaba, has instructed counsel to institute review proceedings for the review and setting aside of the findings, remedial action and the entire report of the Public Protector, titled “Alleged Failure to Recover misappropriated Funds”.
21 Dec 2015

Minister Gordhan congratulates City of Johannesburg

By Janice Roberts

  The Minister of Finance has issued a statement congratulating the City of Johannesburg after Fitch Ratings upgraded its national long-term rating and the national senior unsecured ratings on outstanding bonds. Fitch also affirmed the City of Johannesburg’s long-term local currency rating with the outlook on stable.
16 Nov 2015

DTC releases first interim report on Carbon Tax

By Janice Roberts

The Davis Tax Committee (DTC) takes its mandate from its Terms of Reference. Amongst other items, “the terms of reference for the Tax Review Committee are to inquire into the role of the tax system in the promotion of inclusive economic growth, employment creation, development and fiscal sustainability.
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