Breaking News
The Finance Ministery has issued a press release confirming the reversal of 1 May VAT increase. VAT remains at 15%. You can read the press release here.
Editor’s Thoughts.
Editor’sJust when you organise your thoughts to write about a specific topic, the Finance Ministery issues a press release that the 1 May VAT increase is withdrawn. Whilst this is great news for households that are already under pressure, I can’t help but think about where the money to fill the hole will come from. But wait … the (stronger than a) rumour is that there is no hole given SARS’s increased revenue collection. Politics trumps economics, it seems. (This Ed’s humble view: simple mathematics will trump both in the long term.)
On the subject of politics and economics, I also enjoyed the perspectives shared by Iain Cunningham (Ninety One) and Brian Arcese (Foord) on the investment case for China. While we might be sitting thinking that “China is faaar over there”, in reality, as our biggest trading partner, China is central to South Africa’s economic landscape – and as decision makers, investors and advisors, what happens over there, impacts what happens over here.
And finally, it’s a busy time for Information Officers right now. Don’t forget your PAIA reporting is due by the end of June and I see that the Information Regulator recently published important updates to POPIA. If you don’t feel like reading Government Notice 6126 of 2025 Nadine Mather and Pascale Towers (Bowmans) summarise the highlights of the new requirements – with some interesting updates to the use of personal information when it comes to direct marketing.
I’ll be spending the day redoing my personal budget with the new (old) VAT rate.
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