Tag ArchivesNational Treasury

IMF, Treasury, economy, GDP, unemployment, International Monetary Fund

Government responds to rating action by Fitch Ratings

Government says it notes Fitch’s decision to affirm South Africa’s long term foreign and local currency debt ratings at ‘BB+’ and maintain the stable outlook. South Africa’s foreign and local currency credit ratings by Fitch remain below investment grade. According to Fitch, the ratings affirmation and stable outlook are based on the following factors; “low […]

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Treasury

Update on the National Health Insurance (NHI) Bill

The National Treasury today issued the following statement: The development of the National Health Insurance (NHI) Bill has involved wide consultation with broad sections of society since its publication for public comment. (more…)

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pensionfile

Rosemary Hunter: Treasury welcomes ConCourt judgement

The National Treasury says it welcomes the judgement by the Constitutional Court dismissing the appeal by former DEO Rosemary Hunter to procure ‘yet another investigation’ into the cancellations project implemented by the Financial Services Board (FSB) between 2007 and 2013. Under the project, over 4 600 pension funds without properly constituted boards were cancelled by […]

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Prof Raymond Parsons

Additional zero-rating recommendations under VAT pose wider challenge to existing fiscal framework

The Independent Panel’s recent recommendations around additional zero-rating under VAT pose a wider challenge to existing fiscal framework. This is according to Professor Raymond Parsons, NWU Business School economist. “The recommendations of the independent Panel to enlarge the list of zero-rated items beyond the current 19 food categories and to now also include non-food items […]

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Fitch Ratings affirms SA’s long-term foreign-currency IDR at ‘BB+’ with stable outlook

Fitch Ratings today affirmed South Africa’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BB+’ with a Stable Outlook. The National Treasury said in a statement that it noted Fitch’s announcement. According to Fitch, “the affirmation and stable outlook takes into consideration signs of recovering governance standards and the prospect of a mild cyclical recovery but […]

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Consumer compares cost of living between South Africa, Spain and the UK

Panel to be set up to review list of VAT zero-rated food items

The increase in the Value-Added Tax (VAT) rate from 14 to 15% will take effect on Sunday, 01 April 2018 as announced in the 2018 Budget, and all VAT vendors are therefore expected to charge the higher rate of 15% from this date. The National Treasury says that in order to ensure that VAT is […]

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Treasury

National Treasury publishes Foreign Member Funds Framework for comment

The National Treasury (NT) today publishes for comment the Foreign Member Funds Framework to be declared by the Minister of Finance in terms of the Collective Investment Schemes Act (Act 45 of 2002). In the 2014 Budget, the Minister of Finance announced the introduction of an alternative class of investment funds called foreign member funds […]

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Treasury

Treasury welcomes comments on insurance draft regulations

The National Treasury (NT) has today published for comment draft amendments to the Regulations to be made by the Minister of Finance in terms of the Long- term Insurance (LTI) and Short-term Insurance (STI) Acts. (more…)

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