Tag: carbon tax
Green manufacturing load-balancing – full steam ahead
Whether it is the South African government’s newly signed carbon tax legislation or the EU’s ‘green’ import taxes, South Africa’s manufacturing sector faces significant challenges. These challenges are centered around sustainability and adapting to new environmental regulations.
ESG – achieving net zero and the role of carbon tax
A reduction in carbon emissions is integral to South Africa's global commitment to achieve net zero. The South African government strategically introduced carbon tax to combat global warming by encouraging a low carbon economy.
Navigating the polycrisis
The notion of a polycrisis – various systemic crisis occurring simultaneously and interacting with one another – has been around for a while but has gained renewed traction for obvious reasons.
VAT in Africa Guide 2022 – Africa re-emerging
We take great pleasure in presenting the eighth edition of the VAT in Africa Guide – Africa re-emerging. This backdrop of renewal informs our theme and purpose of focusing on the re-emergence of African economies and societies which have been affected by the COVID-19 pandemic.
The Budget Speech – a demonstration of the commitment to revive...
South Africa’s Minister of Finance, Mr. Enoch Godongwana, delivered his maiden National Budget Speech to the National Assembly on Wednesday, 23 February 2022. A crucial function of the Budget Speech is to provide details of spending and make proposals about how the priorities outlined in the President’s State of the Nation Address will be funded.
BUDGET 2022 | Commentary on VAT and indirect taxes
As was widely expected, the government did not announce any increase in the VAT rate, although the Minister has stated that the tax rate will need to increase in the future. The proposed amendments affecting VAT are largely technical in nature.
2022 Budget Speech – key highlights
The Minister of Finance, Enoch Godongwana, delivered the 2022 Budget to parliament. Discussed below are key highlights from the 2022 Budget Review:
COP 26 – Let’s talk about climate change complexities
The scientific consensus is that climate change is real and getting worse. The goal for policymakers, activists, business leaders and investors meeting at the United Nation’s COP26 summit in Glasgow is to limit the damage. Specifically, the aim is to keep the increase in average global temperatures to 1.5C above pre-industrial levels.
South African vehicle owners overburdened by taxes
While the pandemic has had a dramatic impact on business and industrial landscapes, both locally and abroad, one of the industries that has had to adapt or die quickly is the automotive industry, in all its facets. This has meant rethinking the way it does business and what stimulus packages would help to get it firing on all cylinders again.
Fighting food waste through sustainable waste management
A third of the food that is produced in South Africa is destined for landfill sites, which are fast reaching full capacity. According to statistics, South Africa produces 10 million tonnes of food waste[1] every year and reportedly, has the largest proportion of food wastage in Africa. Yet, an average of 14 million people[2] go to bed hungry every night and 2,5million of these are children.