Tag: fuel levy

We note the decision by the Minister of Finance to increase the fuel levy by 4% - 16 cents per litre for petrol and 15 cents for diesel. This increase will directly affect consumers. Transporters cannot absorb these additional costs without harming their bottom line and threatening business sustainability.

When you hear the word ‘carbon emissions’, images of towering chimneys at coal-fired plants, endless motor vehicles on the highway, and large-scale manufacturing facilities may come to mind. But have you ever considered the environmental impact of your company laptop? Research shows that 3.7% of carbon emissions, also known as global greenhouse gas emissions (GHG), are caused by digital technologies.

Minister of Finance Enoch Godongwana will deliver the 2024 Budget Review to Parliament next week as the South African economy faces a gloomy economic outlook. The economy is still recovering from the impact of COVID-19 and state capture.

The 2023 Budget was tabled to Parliament on 22 February 2023 by South African Finance Minister Enoch Godongwana.

Instilling trust in taxpayers is vital to increasing tax collection. The South African Revenue Service (SARS) has announced that the 2022 tax season will open in July; a condensed filing season compared to 2021, which was extended due to the long-tail impact of the pandemic.

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.

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.

The 2022 Budget was tabled to Parliament on 23 February 2022 by South African Finance Minister Enoch Godongwana.

South Africa’s economic recovery relies to a large extent on creating a more enabling business environment and putting the right structural economic reforms in place. The country needs to prioritise those reforms that will deliver results both in the short and long term and put the ruling party’s tendency to revert to ideological thinking aside in the interests of rescuing the economy.

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.