Tag: corporate tax rates

The National Treasury announced in the 2022 Budget Review that the corporate tax rate will be lowered to 27% for years of assessment that end or on after 31 March 2023. Practically, for most companies, this means that the reduced rate applies for years of assessment that start on or after 1 April 2022 and some companies may already enjoy the effect of the reduction in 2022 when making provisional tax payments.

Taxpayers were listening very closely as Tito Mboweni delivered his annual budget speech. Taxpayers can however breathe a sigh of relief as no increases in tax rates will be incurred despite a year of national lockdown and the roll out of the vaccine.

Minister of Finance Tito Mboweni delivered his Budget Speech 2021 to Parliament on Wednesday, February 24. This document provides an overview of key information relating to the economic outlook, government revenue and expenditure, fiscal balance, and the public debt trajectory.

The 2021 Budget was tabled to Parliament on 24 February 2021 by South African Finance Minister Tito Mboweni.

Like a good Hollywood thriller, the US election kept us in suspense all week with plenty of plot twists and turns. Billions of people around the world spent days glued to their screens, as the vote count was drawn out by a high voter turnout and a large increase in mail-in ballots.