By Staff Writer
The economic woes of the past decade appear to continue according to the 35 participants of the Bureau of Market Research Economist of the year competition.
South Africans will have more money in their pockets not only through an adjustment of the personal tax brackets in line with inflation, but also, as a result of no increases in the fuel levy.
There is cautious optimism that South Africa’s fiscal picture is improving after Finance Minister Enoch Godongwana delivered his maiden Budget Speech.
Director at specialist tax advisors AJM, Dr Albertus Marais, cautions that significant structural threats and a dwindling corporate tax base remain key risks.
The government did not announce any increase in the VAT rate. The proposed amendments affecting VAT are largely technical in nature.
Jenny Gordon, Head: Technical Advice, Investments, Product and Enablement at Alexander Forbes summarises tax proposals from the 2022 Budget Speech.
10 Key Highlights from the 2022 Budget Speech.
Old Mutual’s panel of experts comment on the 2022 Budget Speech delivered by Finance Minister, Enoch Godongwana.
The National Budget was characterised by the balance between social welfare expenditure and fiscal sustainability amid a disappointing outlook for GDP growth in South Africa.
If the two-pot system is implemented properly, it will provide a feasible and accountable solution to address the immediate needs of many retirement fund members.
Our expectation is for an overrun of around R75bn, with decent tax collection across the board, but an especially strong performance from company income tax collection.
SAB’s VP of Corporate Affairs Zoleka Lisa implores government to give SMMEs along its value chain a tax break.
Visit the official COVID-19 government website to stay informed: sacoronavirus.co.za
