The South African Revenue Service (SARS) has announced comprehensive measures to accommodate the withdrawal of the 0.5% VAT increase. This decision, introduced by Finance Minister Enoch Godongwana through the Rates and Monetary Amounts and Amendment of Revenue Laws Bill (Rates…
The South African Revenue Service (SARS) raised a record R2.303 trillion of revenue in the 2024/25 year, an all-time rise of 6.9% on the previous year. It is a record-breaking R8.8 billion over target and a new peak of efficiency…
South African consumer inflation price remained at 3.2% in February, the same as January, according to figures released by Statistics South Africa. The flat rate is a seesawing economic performance despite stresses in broad categories such as food, utilities, and…
The South African government, striving to invigorate the nation’s logistics sector, unveiled critical reforms aimed at enhancing export capabilities and economic stability. Transport Minister Barbara Creecy emphasized these developments during the launch of the World Bank report, “Driving Inclusive Growth…
South Africa’s inflation in November 2024 increased slightly to 2.9% year-on-year (y/y), up from 2.8% in October, but still well below the Reserve Bank’s target range of 3.0%. This outcome was better than FNB’s forecast of 3.2% and market expectations…
South Africa’s 2024 Tax Statistics report, jointly released by the National Treasury and the South African Revenue Service (SARS), revealed a record net tax revenue of R1.7 trillion for the 2023/24 fiscal year, marking a 3.2% increase from the previous…
South Africa’s mining and manufacturing sectors showed signs of resilience in October, despite mixed performance figures that signal a challenging economic environment. Mining output grew by 1.4% year-on-year (y/y) in October, a marked slowdown from the 4.9% recorded in September.…
In a decisive move to address the economic challenges facing South Africa, Finance Minister Enoch Godongwana has unveiled the 2024 Medium Term Budget Policy Statement (MTBPS), projecting real GDP growth at a modest 1.1% for 2024, with an average of…
