Tag: prime rate
Unpacking onerous adjustments to the apportionment formula
The shortcomings of the Value Added Tax (VAT) apportionment formula set out in 2011, have been addressed in a new formula which applies with effect from all financial years commencing on or after 1 January 2024. We highlight important adjustments to the formula which is laid out new Binding General ruling, BGR 16 (Issue 3).
Rate reprieve will lift holiday spirits after a tough year
While many factors indicated the possibility of a rate hike, the South African Reserve Bank (SARB)’s decision to hold their key lending rate provides some relief after a challenging year.
What are interest rates and how do they affect you?
Interest rates have gone up several times in the last few months in South Africa, and it looks like they will keep rising for the foreseeable future. So, this begs the question: what are interest rates, why are they rising, and how do they affect you?