Tag: compliance

In the 2025 Budget Speech, Finance Minister Enoch Godongwana unveiled a proposed staggered increase to the Value Added Tax (VAT) rate. This move, designed to address economic challenges and fund key government initiatives, will undoubtedly add pressure to small businesses, especially those who are already struggling with cash flow. However, it’s worth understanding who pays VAT, how VAT contributes to total tax revenue, and how you as a small business can manage this change.

As South Africans braced for a heavier tax burden, the 2025 Budget Speech delivered a mix of relief and reality. While tax increases were lower than feared, financial advisers will soon need to navigate a complex landscape of regulatory reforms.

A new study found that tax administration in many African countries is inefficient, hindering revenue collection. This points to potential gaps that could be addressed through institutional reforms. Widespread inefficiencies in tax systems in Africa undermine the mobilisation of government resources, limiting their capacity to deliver public services and make essential investments.

The Major Hazard Installation (MHI) Regulations were published in January 2023, replacing the 2001 MHI Regulations. We previously published an article outlining key timelines for compliance with the amended MHI Regulations. The MHI Regulations must be read alongside the published Explanatory Note, which provides guidance to duty holders on interpreting the MHI Regulations and ensuring compliance.

Companies are increasingly abandoning cloud as they shift data and workloads back to on-premises platforms. However, is this the right move? Cloud costs more than companies expected. According to a Citrix survey, organisations are reversing cloud adoption and repatriating workloads to on-prem solutions.

We support efforts to ensure the safety and performance of the national grid. We remind businesses and members of the public about the mandatory requirement to register Small-Scale Embedded Generators (SSEG). SSEG refers to a customer-owned generation unit. This unit typically generates less than 1MW/1MVA and connects to the electricity distribution network.

The TV licence system is on life support. Less than 20% of South Africans with a licence actually pay. The costs of chasing payments often outweigh the revenue collected. People simply don’t see value in funding a public broadcaster anymore. They have an endless stream of content available elsewhere. That said, the South African Broadcasting Corporation (SABC) still matters.

Imagine a bustling Cape Town restaurant filled with tourists. Or a Sandton office where handshakes seal deals. Picture a Durban preschool where tots play and touch everything in sight. What do they have in common? Each faces invisible threats like bacteria, viruses and contaminants thriving in shared spaces.

The 2025 Budget Speech, delivered on 12 March 2025, made it clear that financial crime enforcement and compliance are priorities. The government has allocated increased funding for forensic investigations, regulatory oversight and tax compliance monitoring

The shocks, surprises and shortfalls in the initial budget on 19 February 2025 made way for a reworked National Budget. This new budget is marked by cuts, compromises and curveballs. Although Finance Minister Enoch Godongwana’s first budget attempt was unexpectedly stopped three weeks ago, a higher VAT rate is still on the table.