Supplementary budget tax revenue targets may be unrealistic

On Wednesday (24 June), Finance Minister Tito Mboweni presented the supplementary budget in response to emergency measures taken to combat the Covid-19 pandemic. According to Ettiene Retief, chairman of the National Tax and SARS Committee at the South African...

Consumers drive print market, but business renewal is coming

In May 2020, the consumer print market dominated (inkjet MFPs continued to shine, with sales driven by low-cost consumer models), and business spend continued to suffer, according to the latest data from Context. “The shift towards consumer sales has been...

Blair believes UK likely to limit Huawei on 5G networks

Kathy Gibson is at Reuters Newsmaker virtual event – The UK will likely opt to support the US in its stance on Huawei and limit the Chinese vendor’s involvement in building 5G networks in the country. This is the word from Tony Blair, executive chairman of the Tony...

No surprises, limited relief for struggling businesses

Finance Minister Tito Mboweni did not offer many surprises in his supplementary budget today, which aims to rebalance government spending and create a framework for economic growth in the post-Covid landscape. By Yolandi Esterhuizen, registered tax practitioner and...

Budget outlines significant challenges, but few solutions

Finance Minister Tito Mboweni’s 2020 Supplementary Budget Speech clearly emphasised the dire situation facing the National Treasury. Unfortunately, it did not offer much detail about how it expects to actively raise revenue and reduce expenditure to address the...
Brace for deepest recession in 90 years

Brace for deepest recession in 90 years

South Africa can expect a deep recession this year – as bad as any in the last 90 years. Finance Minister Tito Mboweni delivered his Supplementary Budget Speech 2020 to (a virtual) Parliament yesterday (June 24). Lullu Krugel chief economist for PwC...