South Africa already has wealth taxes, says Kieswetter
Almost half the revenue from personal taxes is derived from people who earn more than R1 million.
Parliament
MPs insist on due process for Fica amendments aimed at avoiding grey-listing
Parliament’s finance committees last week decided they will not rubber-stamp National Treasury’s proposed amendments to the Financial Intelligence Centre Act (Fica) that are designed to prevent South Africa from being placed on the […]
Sars defends its handling of VAT refunds and taxpayer disputes
The South African Revenue Service (Sars) has defended the way it handles VAT audits after this issue, as well as the time taken to resolve disputes, was raised by the Tax Ombud in […]
Finance MPs want action on Tax Ombud’s independence
Parliament’s finance committees have resolved that their respective chairpersons will engage directly with Finance Minister Enoch Godongwana on legislation to make the Office of the Tax Ombud (OTO) “more clearly” financially and operationally […]
FAIS Ombud rep levy pushes up an FSP’s total levy bill
As we reported last week, National Treasury has revised some of the levies that FSPs will have to pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill. […]
R8bn in retained earnings wiped out in days
The 10 days of unrest in KwaZulu-Natal and parts of Gauteng in July last year wiped out the South African Special Risk Insurance Association’s cumulative retained earnings of more than R8 billion, incoming […]
Draft Financial Sector Levies Bill dubbed ‘increased taxation by stealth’
Robert Vivian, professor of finance and insurance in the School of Business Sciences at Wits University and a member of the Free Market Foundation’s Rule of Law Board of Advisors, holds nothing back […]
Treasury proposes reducing FSP levies
National Treasury has proposed lowering some of the levies that FSPs will pay to the FSCA in terms of the Financial Sector and Deposit Insurance Levies Bill, to reduce the impact on small […]
MPs ask Treasury for report on impact of new financial sector levies
Parliament’s Standing Committee on Finance has tasked National Treasury with producing a report on how the Financial Sector and Deposit Insurance Levies Bill will impact consumers and small entities. Read: FSPs face paying […]
Lloyd’s believes it’s likely SA will see repeat of July riots
Lloyd’s of London believes it is likely there will be a recurrence of last year’s riots, and has hiked its reinsurance premiums paid by the South African Special Risk Association (Sasria). Sasria briefed […]
