Tag ArchivesTreasury

offshorecashdash

Tightening up on the offshore trust rules

By Ernest Mazansky, Head of Tax Practice, Werksmans Attorneys. (more…)

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Tertius Troost

Treasury’s possible challenges following the VAT Panel report

The recommendations put forward by the review panel on the zero-rating of certain items for Value-Added Tax (VAT), may be challenging for Treasury to enforce. This is according to Tertius Troost, Senior Tax Consultant at Mazars, who says that while the panel, led by Professor Ingrid Woolard, has made compelling arguments for the inclusion of […]

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

Treasury comments on measures considered for igniting economic growth

Today, the National Treasury commented on measures being considered for igniting economic growth in South Africa. “In his statement to the nation on July 31, President Cyril Ramaphosa made it clear that the funding for measures being considered to ignite economic growth would be done in a manner that ensured that government maintained fiscal prudence. […]

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Report on review of current list of zero-rated VAT items released

The Minister of Finance today releases the report by the Independent Panel on the review of the current list of items that are zero-rated for VAT purposes for public comment by 31 August 2018. (more…)

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

IMF publishes outcome of Article IV consultation with SA

The International Monetary Fund (IMF) has today published the outcome of its Article IV consultation with South Africa that took place between 28 May and 11 June 2018. (more…)

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

Government responds to rating action of S&P 

The South African government says it notes S&P’s decision to affirm South Africa’s long term foreign and local currency debt ratings at ‘BB’ and ‘BB+’ respectively, and to maintain the stable outlook. According to S&P, the rating affirmation is underpinned by the following drivers: “Despite upward revisions, South Africa’s economic growth remains tentative, and the […]

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Treasury

Call for VAT submissions

On 25 April 2018, the Minister of Finance published the Terms of Reference for the Independent Panel of Experts to review the current list of zero-rated items, and consider the most effective way to mitigate the impact of the increase in the VAT rate on poor and low-income households. This is according to a statement […]

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Monale Ratsoma

Ratsoma appointed DG of BRICS NDB ARC

National Treasury’s Deputy Director-General (DDG) for Economic Policy, Mr Monale Ratsoma, has been appointed the Director-General of the BRICS New Development Bank (NDB) Africa Regional Centre(ARC). The Treasury says in a statement that the appointment is effective from 16 April 2018. MrRatsoma’s role will be managing the bank’s African regional operations and leading the bank’sAfrican […]

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