Update – South Africa’s 2025 VAT Changes: Legal Challenges and Business Implications
The South African National Treasury has officially announced the withdrawal of the proposed VAT increase
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The South African National Treasury has officially announced the withdrawal of the proposed VAT increase
South Africa is set to implement a phased increase in its Value-Added Tax (VAT) rate, aiming to bolster government revenue and address fiscal challenges.
Who can claim the incentive?
Individuals who pay personal income tax can claim the rebate against their tax liability. This rebate is not intended for solar installations at business premises.
No massive changes in the coming tax year beyond: Personal Income Tax Personal Income Tax […]
Government and SARS (South African Revenue Service) have agreed to assist companies in South Africa on certain conditions
Careful financial planning is going to be critical this year. Budgets, cash flows and up to date management accounts will be very important over the next couple of months.
It will only be to your benefit to be proactive. Here are some suggestions:
The Minister of Labour has issued a Directive called the COVID-19 Temporary Employee / Employer Relief Scheme (C19 TERS).
A breakdown of funding available to South Africa due to the COVID-19 outbreak
The UIF Department will compensate workers affected by the COVID-19 lockdown through its current Illness and Reduced Work Time Benefit.
Companies across the country are facing some tough decisions in the coming weeks. Unfortunately, the Labour Relations Act and Basic Conditions of Employment Act do not make any specific provisions for the current issues facing us.