Tag ArchivesTreasury

Minister Malusi Gigaba

Treasury confirms resignation of Michael Sachs

National Treasury confirms the resignation of its Deputy Director-General: Budget Office, Michael Sachs. “Mr Sachs has expressed his interest to serve the public sector in a different capacity,” its statement, issued on Monday afternoon, said. “Mr Sachs will not be leaving National Treasury immediately to ensure a proper handover to another senior official and to […]

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Mike Teuchert, National Head of Taxation at Mazars

Tax increases may not be enough

The possible tax increases hinted at during last week’s Medium Term Budget Policy Statement (MTBPS) are likely to do very little to decrease Treasury’s R50.8 billion revenue shortfall – and may in fact ensure that even less revenue is collected next year. (more…)

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Minister Malusi Gigaba

Minister Gigaba responds to KPMG developments

The Minister of Finance, Malusi Gigaba, today issued a statement in which he expressed “deep concern” about audit matters currently surrounding KPMG. (more…)

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taxcgtsmall

Draft tax amendment bills published for public comment

National Treasury and SARS published the 2017 Draft Taxation Laws Amendment Bill (TLAB) and the 2017 Draft Tax Administration Laws Amendment Bill (TALAB) earlier this week. The 2017 Draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates Bill) was published on Budget Day. This suite of draft bills should give effect to […]

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Government uses disaster funds for SAA bailout

“Government has decided to transfer funds from the National Revenue Fund (NRF) to South African Airways to allow the airline to pay back its debt to Standard Chartered Bank thereby avoiding a default,” last Saturday’s statement from the National Treasury said. (more…)

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Treasury

Treasury identifies ‘green shoots’ in economy

South Africa’s Gross Domestic Product (GDP) contracted 0.7 per cent in the first quarter of 2017. (more…)

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

Fitch affirms SA’s long term foreign and local currency debt ratings

Fitch has affirmed South Africa’s long term foreign and local currency debt ratings of ‘BB+’ with a stable outlook. (more…)

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

Mogajane appointed as acting Treasury DG

Dondo Mogajane, the Deputy Director-General responsible for the Public Finance division, has been appointed as the acting Director-General for the National Treasury. The announcement was made late Monday in a statement. (more…)

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