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/ 30 October 2007
South Africa will record a budget surplus for the next three years due to higher-than-expected tax revenues and would invest more to boost infrastructure, the National Treasury said on Tuesday. In its Medium-Term Budget Policy Statement, the Treasury said robust economic growth over the past five years had provided for a more expansionary fiscal stance.
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/ 26 October 2007
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Thousands of people in Pretoria turned up in rainy weather on Friday for a parade to celebrate the Springboks’ victory in the Rugby World Cup a week ago. They were due in Johannesburg later in the day — and in Soweto on Saturday, after a public outcry over the initial cancellation of that leg of the victory tour.
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/ 15 October 2007
The public’s response to the South African Revenue Service’s (Sars) call on tax returns is satisfying but nowhere near what is desired, Sars said on Monday. ”We are satisfied, but it would have been better if we had gone as far as registering four million,” said Sars spokesperson Adrian Lackay.
While the Southern African Development Community (SADC) has moved towards liberalising trade to make the flow of goods between countries easier and economically more rewarding, non-tariff barriers such as border delays continue to be a concern, a recent study found.
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/ 28 September 2007
South Africa recorded a trade deficit of R9,1-billion in August, compared with July’s R9,4-billion shortfall, the South African Revenue Service said on Friday. Economists polled by Reuters last week had forecast a deficit of R5,3-billion, but the number is notoriously volatile and hard to predict.
Small business owners have until 1pm on Saturday to submit their 2006 tax return and financial statements in support of their applications for the small business tax amnesty. ”The South African Revenue Service [Sars] is encouraged by the number of queries and visits to our offices in the past week,” it said on Friday.
Small businesses that have applied for tax amnesty must submit the required documents by Friday, the South African Revenue Service (Sars) said on Tuesday. ”After the deadline Sars will commence with enforcement actions against taxpayers who have either not applied for amnesty or submitted an incomplete application,” a Sars spokesperson said on Tuesday.
Irvin Khoza’s troubles extend beyond the R66-million tax probe directed at him.