Business In The News South Africa

SA revenue services collects R1bln from special voluntary disclosure programme

JOHANNESBURG, October 10 – The South African Revenue Service (Sars) said on Tuesday that it had collected more than R1 billion from about 2000 taxpayers during the Special Voluntary Disclosure Programme (SVDP). The SVDP offered non-compliant taxpayers a once-off opportunity during a limited window period running from 1 October 2016 to 31 August 2017 to regularise their unauthorised foreign assets […]

Business In The News South Africa

Fresh produce market agents charged for price fixing

JOHANNESBURG, October 11 – The Competition Commission on Wednesday referred 14 fresh produce market agents and their association, the Institute for Market Agents of South Africa, to the Competition Tribunal for prosecution in relation to charges of price fixing and fixing trading conditions in contravention of the Competition Act. This follows search and seizure operations conducted by the Commission […]

Business In The News South Africa

Exxaro sells portion of Tronox stake in U.S. for R6.5billion

JOHANNESBURG, October 11 – Diversified miner Exxaro Resources said on Wednesday that it has completed the sale of at least 20 percent stake in Tronox Limited for approximately US$474 million, or about R6.5 billion. Tronox Limited is a NYSE-listed company engaged in the mining, production and marketing of inorganic minerals and chemicals. The South African coal and […]

Africa Business In The News South Africa

Johannesburg ranked most visited city in Africa

JOHANNESBURG, October 10 – South Africa’s most-populated city, Johannesburg, has emerged as the most popular destination city in Africa in 2016 followed by Cape Town, according to the annual Mastercard Global Destination Cities Index released on Tuesday. The Mastercard Global Destination Cities Index showed that Johannesburg welcomed 4.57 million international overnight visitors in 2016, a […]

Business In The News South Africa

Autoliv agrees to pay R150million for contravening SA competition laws

JOHANNESBURG, October 9 – Autoliv Inc, the world’s largest automotive safety supplier, has agreed to pay an administrative penalty of almost R150 million after admitting that it contravened the South African Competition Act, the Competition Commission said on Monday. The Commission said Autoliv has concluded a settlement agreement for its involvement in prohibited practices like price […]