Since the interim budget speech in October, there has been a significant decrease in revenue. The revenue was decreased by R15.4 billion, which can mostly be attributed to the increase in VAT refunds over the past few months.
During the delivery of the 2019 Budget speech, the Minister – Tito Mboweni – spoke about six fundamental prescripts in this year’s budget, one of them being Increasing tax collection. In increasing tax collection, he talked about Tax revenue and raising SARS’ capacity – the following was addressed on this topic:
The reports released in 2018 November indicates that 1 of 3 cigarettes sold in South Africa is illegal. The cost of illegal cigarette cost about R50-60 per carton while the legal cigarette sold locally in South Africa cost R250 per carton. Consumption of illegal tobacco keeps increasing and this is due to their selling price
As global warming is increasing rapidly, the world has turned to renewable energy to try and decrease our carbon use and harmful gasses. Global warming might not have been the only reason for South Africa to consider renewable energy- as this topic comes to light with the current Eskom crisis.
Freedom of Movement When government struggle to meet its revenue estimates and projections fall short in three of its four main tax revenue instruments, proposals to increase the tax base are raised; and in this year’s budget speech, the Minister has looked to a fuel levy increase yet again.
An employee’s remuneration package was once carved in stone, consisting of their pay and some standard benefits, like medical aid and pension. However, things are quite different these days, with employers hoping to offer better rewards that entice top talent to join their organisations and stay longer. Here, we share our views on what workers […]
With the 2018 tax filing season having come and gone, several taxpayers got in contact with us after receiving a nasty surprise on their income tax assessment.
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- What are the key considerations when attempting to comply with “Equal Pay for work of equal value”?06/27/2016 - 12:06
- How do I optimally structure travel allowances for employees?06/27/2016 - 12:04
- How does a Total Reward Statement (TRS) enhance my company’s Employee Value Proposition (EVP)?06/27/2016 - 12:03
- What advantages does CTC with flexible benefits have for my staff and company?06/27/2016 - 12:02