Business In The News South Africa

Treasury announces panel of experts to review VAT zero-rated items

JOHANNESBURG, April 25 – South African Finance Minister Nhlanhla Nene announced that Stellenbosch University’s Professor Ingrid Woolard will chair the nine-member independent panel of experts that will review the current list of Value-Added Tax (VAT) zero-rated items. Woolard is currently dean of Economic and Management Sciences at Stellenbosch University. The other members are: Ayabonga Cawe, Professor […]

Business In The News South Africa

SA revenue service says collected R1.2 trillion revenue in 2017/18

JOHANNESBURG, April 3 – The South African Revenue Service said on Tuesday it had collected R1.2 trillion in the 2017/18 financial year ended March 31, slightly below the estimate announced in the budget in February, but up 6.3 percent from the previous year. “The 2017/18 financial year was characterised by distinct and clearly delineated growth […]

Lead South Africa

I’ve cordial working relations with finance minister – Sars boss

PRETORIA, March 15 – Commissioner of the South African Revenue Services (Sars), Tom Moyane on Wednesday, said he had an amicable working relation with his new boss, Finance Minister Nhlanhla Nene who took over from Malusi Gigaba after a Cabinet reshuffle. “[Regarding] my relationship with the new minister and the deputy minister [Mondli Gungubele], I think the […]

Business In The News South Africa

SA civic organisation calls for action against municipalities over VBS Bank investments

JOHANNESBURG, March 12 – The South African National Civic Organisation (SANCO) has called for action against municipalities that invested their finances with the troubled Limpopo-based VBS Mutual Bank. This follows South African Reserve Bank (Sarb) Governor Lesetja Kganyago’s announcement on Sunday that the bank had been placed under curatorship. VBS is facing a liquidity crisis after […]