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The Commissioner of the South African Revenue Services (SARS), Edward Kieswetter, briefed the media and stakeholders on 30 July 2020 to provide an update in terms of SARS’ plans in respect of the 2020 Filing Season. The theme for this year’s filing season is #YourTaxMatters.
Budget statements have in recent years perennially made downward revisions in economic growth projections. Disappointing growth outcomes compared to official forecasts is partly attributed to the inability to implement planned structural reforms that would have delivered improved growth outcomes.
Finance Minister Tito Mboweni delivered a macabre Medium-Term Budget Policy Statement (MTBSP) to Parliament on October 30. The MTBPS communicates to government and the people the economic context of the country and fiscal spending priorities over the coming three years. (It does not include detailed spending plans or tax proposals, which are left to the main budget in February.)
The Finance Minister, Tito Mboweni, used the opportunity in the National Budget Speech to address the concerns raised by many South African citizens, corporates and international ratings agencies.