Economists say we will most likely see an increase in personal tax and the fuel levy, as government tries to ramp up tax collection. They say government is running out of options to raise money after SARS missed its collection targets over the past few years. Analysts say it’s now a certainty that SARS will..
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SA taxpayers are among the highly taxed in the world – and it could get worse
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Liquidations on the rise in South Africa – number of liquidations increased by 13.7% during the first seven months of 2019 with 183 business liquidation recorded in July
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South Africa recorded 183 business liquidations in July 2019, representing a 24.5% rise from 147 liquidations recorded a year ago, according to StatsSA. The stats body said that 1,198 liquidations were recorded so far this year (January to July), higher than the 1,054 recorded in the same period last year. The report found that the..
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Parastatal waste equals tax shortfall: Treasury will need to find new resources to close the budget gap
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The R50‑billion shortfall in tax revenue that the treasury will need to find elsewhere to plug the budget gap is close to how much state-owned entities (SOEs) have thrown down the drain in the past financial year. The auditor general, Kimi Makwetu, released national and provincial audit results on Wednesday. Although the number of clean..
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