Goodbye home solar tax rebate
The solar tax rebate was implemented on 1 March 2023 and has allowed tax-paying citizens to claim a rebate of 25% of the value of new solar panels, up to a maximum rebate of R15,000.
Energy experts slammed the incentive as inefficient, particularly because it...
PwC has pencilled in an increase in personal income tax or in the VAT rate by the National Treasury to raise the additional R15bn in revenues that finance minister Enoch Godongwana announced he would need during the medium-term budget policy statement.
In the economic outlook report published...
About R200bn in additional funding will be needed to bankroll the NHI annually, and this could be raised by hiking taxes. The National Treasury is required to present a “money bill” to clarify any new tax amendments, if these are on the cards, to fund further spending, including on the NHI. But...
PwC says VAT hike possible in budget announcement
South Africa’s National Treasury may have to hike value-added tax (VAT) on some goods and services to bring in new revenues, accounting firm PwC said.
Finance minister Enoch Godongwana in November signalled that he would announce new tax...
Independent report on state of Eskom power stations being kept secret
An environmental pressure group and energy analysts have raised concerns over the justifications for keeping an independent report into the state of Eskom's coal-fired power stations under wraps, City Press reports...
State employee salary hikes add R24 billion to budget
South Africa’s finance minister will honour an over-budget wage increase for public servants despite fiscal constraints, while also looking at proposals to cut down the size of government.
The government won’t renege on a two-year wage...
Huge change to Eskom's R254-billion bailout
Finance minister Enoch Godongwana has announced that Eskom’s R254-billion bailout will no longer be interest-free.
Godongwana announced in February that South African taxpayers would take over more than half of Eskom’s debt.
EVs getting tax measure boost in South Africa
The South African government plans to implement tax and expenditure measures to support the automotive sector in the transition to a low-carbon economy.
Delivering the Medium Term Budget Policy Statement in Parliament on Wednesday, Minister of...
German experts complete report on state of Eskom coal power plants
German energy consultants have completed a review of Eskom Holdings SOC Ltd.’s struggling coal-fired plants and will submit the report to South Africa’s finance minister this week.
Enoch Godongwana is set to receive the report...
Treasury launches solar loans for homes and small businesses
The National Treasury has launched the Energy Bounce Back Loan Guarantee Scheme (EBB) — an initiative aimed at alleviating the impact of continuing difficulties resulting from unreliable power supply for small businesses and...
Vaping in South Africa just got much more expensive
South African vapers could pay up to R400 more for every bottle of vape juice they buy, thanks to a newly-introduced excise tax on e-cigarettes.
Finance minister Enoch Godongwana first announced the tax in his 2022 budget speech, and it took...
Finance minister backtracks on giving Eskom exemption from reporting wasteful expenditure
Eskom will not be granted a partial exemption from disclosing fruitless and wasteful expenditure and material losses from criminal conduct in its annual financial statements, National Treasury has said...
Godongwana says SA unlikely to be sanctioned over Russia arms supply row
South African Finance Minister Enoch Godongwana said his country had resolved a row with the US over allegations that Pretoria had supplied weapons to Russia and it is unlikely to face any repercussions.
A furore erupted...
Finance minister says Eskom won't get extra money
South African finance minister Enoch Godongwana ruled out additional state funding for debt-laden power utility Eskom Holdings SOC Ltd., underscoring the government’s disjointed approach to resolving the nation’s debilitating energy crisis...
Finance minister withdraws Eskom's exemption from reporting irregular and wasteful spending — for now
Finance minister Enoch Godongwana has announced that government has withdrawn a gazette that exempts Eskom from reporting irregular, wasteful, and fruitless expenditures in its financial...
Eskom's wasted money — R860,000 overpaid on oil container and the R200,000 mop
Finance minister Enoch Godongwana recently exempted Eskom from reporting irregular and wasteful expenditure in its financial statements for three years. This is despite former Eskom CEO André de Ruyter disclosing...
Eskom doesn't have to report wasteful and irregular expenditure anymore
South African finance minister Enoch Godongwana has gazetted a new regulation which exempts Eskom from disclosing any irregular, fruitless, and wasteful expenditure amounts in its annual financial reports until 2025...
Eskom going to die slow death, warns economist
Efficient Group founder and economist Dawie Roodt said “Eskom is going to die a slow death” in response to the 2023 budget speech.
Finance Minister Enoch Godongwana presented the Eskom Debt Relief Bill in the budget, with the government taking...
How Eskom split could bring end to load-shedding
The announcement by the South African finance minister, Enoch Godongwana, of debt relief for the country’s troubled power utility, Eskom, is a step forward.
It will fix one problem: Eskom has too much debt. But the plan won’t end power cuts...
Financial Action Task Force puts South Africa on greylist
South Africa has been placed on a global financial watchdo's so-called grey list denoting nations with shortcomings in tackling illicit financial flows, a move that scars the country's international reputation and may raise costs for...