South African National Budget Speech 2019

Finance Minister Tito Mboweni delivered the 2019 Budget Speech on 20 February 2019. Our South African Tax Practice made the following observations after the speech:

• No inflationary adjustment to medical tax credits, to help fund NHI
• Further ‘dividend stripping’ tax avoidance provisions
• New export tax on scrap metal proposed
• Venture capital companies under stack – again