enoch godongwana

  1. Hanno Labuschagne

    VAT hike could be reversed in two months

    VAT hike could be reversed in two months While South Africa's VAT rate should increase to 15.5% on 1 May 2025, it could be back at its current level within two months due to higher revenues in the national government's 2025/2026 budget. Sunday Times reports that finance minister Enoch...
    • Hanno Labuschagne
    • Thread
    • 2025 budget speech budget 2025 enoch godongwana national treasury south african revenue service (sars) tax hikes taxes value-added tax (vat)
    • Replies: 59
    • Forum: News and Current Affairs
  3. Hanno Labuschagne

    Ramaphosa proposes 15.5% to 16% VAT

    Ramaphosa proposes 15.5% to 16% VAT President Cyril Ramaphosa has proposed hiking value-added tax (VAT) by between 0.5 and one percentage point in the country's 2025/2026 budget to resolve a dispute in the Government of National Unity (GNU). City Press reported that government sources said the...
    • Hanno Labuschagne
    • Thread
    • budget speech 2025 city press democratic alliance (da) enoch godongwana government of national unity (gnu) president cyril ramaphosa
    • Replies: 62
    • Forum: Broadband and IT News
  4. Hanno Labuschagne

    Goodbye home solar tax rebate

    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...
  5. pratlou

    PwC sees tax hikes to plug R15bn shortfall

    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...
  6. pratlou

    NHI funding poses a fiscal threat, says Adrian Gore

    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...
  7. Hanno Labuschagne

    PwC says VAT hike possible in budget announcement

    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...
  8. Hanno Labuschagne

    Independent report on state of Eskom power stations being kept secret

    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...
  9. Hanno Labuschagne

    State employee salary hikes add R24 billion to budget

    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...
  10. Jan

    Treasury will now charge interest on Eskom's R254-billion bailout

    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.
  11. Hanno Labuschagne

    EVs getting tax measure boost in South Africa

    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...
  12. Hanno Labuschagne

    German experts complete report on state of Eskom coal power plants

    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...
  13. Hanno Labuschagne

    Treasury launches solar loans for homes and small businesses

    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...
    • Hanno Labuschagne
    • Thread
    • energy bounce back loan guarantee scheme (ebb) enoch godongwana industrial development corporation national treasury solar loans solar power
    • Replies: 11
    • Forum: Broadband and IT News
  14. Jan

    Industry warns South Africa's new vape juice tax will cause major problems

    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...
  15. Jan

    Eskom not getting exemption from reporting wasteful expenditure in financial statements after all

    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...
  16. Hanno Labuschagne

    Godongwana says SA unlikely to be sanctioned over Russia arms supply row

    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...
  17. Hanno Labuschagne

    Finance minister says Eskom won't get extra money

    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...
  18. Jan

    Godongwana rolls back Eskom exemption for irregular and wasteful expenditure - for now

    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...
  19. Jan

    Irregular, fruitless, and wasteful expenditure - Eskom's R940,000 oil container that should have been R80,000

    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...
  20. Jan

    Godongwana exempts Eskom from reporting wasteful and irregular expenditure for 3 years

    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...
  21. Jan

    Eskom will die a slow death - Dawie Roodt

    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...
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