The upcoming National Budget Speech for 2021/22 will see South Africa’s Treasury in probably one of the most difficult positions it has ever faced. Not only is National Treasury expected to record a budget deficit of at least 14% (with tax revenue being around R312.8-billion lower than projections at the start of the 2020/21 financial year), but Finance Minister Tito Mboweni needs to find ways of...
By the end of this month, the second provisional income tax payments for companies are due for a financial year that certainly ranks among the most difficult in recent memory – a year in which many business owners realised, as Thomas Dewar once put it, that paying income tax is in fact better than being unable to generate sufficient income to be liable for tax.
Bitcoin’s price has once again soared in recent months – as has the price of some of its other cryptocurrency peers, such as Ethereum – making this very modern form of investing a very ‘hot’ topic at the moment. The seemingly ever-increasing price of Bitcoin leaves the world holding its breath once again – as we did at the end of 2017 – waiting in anticipation for the apparent bubble to burst.
In the midst of a global pandemic, a majority of business leaders still expected growth in 2021. What else do they see on the horizon?
How can the mobility sector respond to evolving consumer expectations to influence and lead a transformation towards cleaner, more connected and collaborative systems?
South African companies are exposed to significant tax risk. Companies are liable for a range of direct taxes, indirect taxes and employees’ taxes that are continuously subject to legislative changes and administrative improvements by SARS and National Treasury. This means not only great complexity and high cost in terms of compliance, but also high tax liabilities that could total 40% of turnover...
There is a new lane for tendering and an urgent need for assistance from government that has been created by Covid-19 PPE tenders, and other tenders used to fight the pandemic that have increased the scope of tender targets for SMMEs. The government is seemingly incapacitated by the pandemic and the PPE tenders that have been advertised since the outbreak, by themselves, present new opportunities...
At the beginning of each year I try to take some time to gather my thoughts and plan for the year ahead. One of the areas I always look at and I’m sure many preparers do too is to look at what accounting standards will need to be applied in the current year.
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