Tag: South African Institute of Chartered Accountants (SAICA)

The COVID-19 pandemic has had a global impact. The South African government has been applauded by the World Health Organisation for its quick response to curb the spread of the COVID-19 in its early stages, and prepare its health care system to better respond to the pandemic.

Is value determined by skilled negotiators or is it an accurate and well-founded calculation performed by a skilled valuator?

With the payment of the first COVID-19 Temporary Employee / Employer Relief Scheme (TERS) benefits, various misunderstandings have come to the forefront.

SAICA hosted a webinar on 6 April 2020 where Chief Economist for Investec Bank Limited South Africa, Annabel Bishop, spoke about the effects of Sub-investment grade Status and the Coronavirus on our country’s already struggling economy.

The global outbreak of Coronavirus and the subsequent national lockdown announced by President Ramaphosa in March 2020 have undoubtedly impacted many companies.

Poor governance practices, poor oversight and a lack of accountability lie at the heart of state capture and the large-scale corporate fraud that has dominated newspaper headlines in South Africa over the last three years. It is precisely due to the weaknesses in the governance structures and systems that dishonest and unethical leaders have been able to plunder state resources and commit fraud.

South African small, medium and micro-enterprises (SMMEs) are struggling with weak economic growth, load shedding and crime. The regulatory burden also continues to hamper the growth of these businesses and their employment creation abilities.

The South African Institute of Chartered Accountants (SAICA) welcomes the gazetting of the Auditing Profession Amendment Bill (APA Bill), and commits to supporting initiatives aimed at improving the regulatory environment in order to restore trust in South African capital markets. SAICA is looking forward to making a positive contribution in this amendment process. 

Every year, when I start thinking about the annual Budget Speech, I wonder what is to come. Is this the year that the corporate tax rate will change? Maybe capital gains will finally be 100% taxable? Or something more low key, like an increase in the Securities Transfer Tax?

As we approach Budget Speech Day on 26 February 2020, many people are wondering what kind of rabbit Finance Minister Tito Mboweni is going to pull out of his hat this year. Most commentators will talk about ‘bracket-creep’, sin taxes and an increase of 1% to the VAT rate. But the Minister needs to start becoming a little more creative.