The official rate of interest is currently set at the repurchase rate. Increase would bring this up to the prime lending rate.
Continue readingSouth Africa: Increase in the official interest rate
South Africa: National Health Insurance
In his maiden Budget today, Malusi Gigaba revealed that Government has continued progressively on the path towards introducing NHI.
Continue readingSouth Africa: Regresses to higher VAT rate
Finance Minister Malusi Gigaba today announced an increase of 1% in the VAT rate, with effect from 1 April 2018.
Continue readingSouth Africa: VAT shocks – the good and the bad
Taxpayers had been holding their breath and crossing their fingers, ahead of Finance Minister Malusi Gigaba’s Budget Speech today.
Continue readingSouth Africa: Budget 2018 – Important proposed changes for businesses
Finance Minister Malusi Gigaba delivered his Budget Speech today. Members of our Tax Practice have identified the following highlights.
Continue readingSouth Africa: Anticipated VAT shocks: another blow to an already bruised taxpayer
If the VAT zero-rating on fuel is removed, the cost of petrol and diesel would rise by 14%. Consumers would be hit hard.
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