The new rules are an improvement, but proper implementation is vital, writes Murray Hunter and Cherese Thakur.
Partly cloudy. Mild.
Minister of Finance Tito Mboweni has announced a number of "exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa to fight the coronavirus pandemic.
National Treasury is considering a tax on all single-use plastics, including straws.
The expected Moody’s downgrade of SA is unlikely to be disastrous, as markets have already priced in the event and local bonds will remain attractive to investors. Longer term, the outlook is still very worrying.
The war of words between Finance Minister Tito Mboweni and former minister of public service and administration Faith Muthambi continued at a parliamentary briefing on Thursday.
There is mounting evidence of a middle-class exodus.
Treasury Director General Dondo Mogajane says that an reformist economic policy paper released on Tuesday by National Treasury is a discussion paper and not government policy yet.
So far only R200m has been spent on the National Health Insurance programme, or 9.5% of the R2.1bn budgeted for the full 2019/20 financial year, according to Treasury.
US Treasury Secretary Steven Mnuchin will oppose France's proposed 3% tax on the revenues of tech firms like Facebook, Amazon, and Google.
The finance minister and Reserve Bank governor have issued a joint statement confirming their respective roles.
South Africa’s budget deficit for the most recent fiscal year could be worse than the government had forecast.
Finance minister Tito Mboweni announced R2bn in income tax relief to South Africans and plans to slash R160bn off the state’s wage bill over three years.
Eskom and Treasury are in talks with banks to renew a R15bn government-guaranteed loan facility that the indebted state power utility announced in February last year.
Eskom has a group debt burden of around R440bn.
Acting head of economic policy Duncan Pieterse says public commentary is crucial to the process.
Mobile operators have long blamed the lack of spectrum for high data prices.
Treasury has stressed the importance of Eskom facing its financial challenges head-on and possibly introducing salary cuts to executives to aid a turnaround.
Facebook's record-setting $5 billion fine from the Federal Trade Commission is going straight to the US Treasury Department.
South Africa’s struggling state-owned power utility will name an acting chief executive officer when incumbent Phakamani Hadebe steps down at the end of the month, according to a person familiar with the decision.
Finance Minister Tito Mboweni authorised a R17.6bn allocation to Eskom in April as the struggling power utility faced difficulty in servicing its debts, members of Parliament have heard.
While the fastest-growing area of spending is debt servicing costs, spend on community development, learning culture, social development and health are still above inflation.
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