Finance Minister Enoch Godongwana tables the 2025 budget in the National Assembly in Cape Town on 12 March 2025. 1 minute Parliament will meet the deadlines in law for the adoption of the 2025 Fiscal Framework and Revenue Proposals. This is according to Parliamentary spokesperson, Moloto Mothapo. Parliament is supposed to adopt the Budget before…
[FILE IMAGE] Boat on the sea. 2 minutes Small Business Development Minister, Stella Ndabeni says the oceans economy is South Africa’s next gold mine and it’s important that everyone, including those in the townships and villages, benefit from it. She was speaking at the first provincial G20 launch taking place in Gqeberha over the next…
The logo of Amazon is seen at the company logistics center in Lauwin-Planque, northern France, January 5, 2023. REUTERS/Pascal Rossignol 2 minutes After years of waiting, Amazon has finally launched its Kuiper internet satellites. The tech giant launched its first 27 satellites into low-Earth orbit from Florida on Monday, kicking off deployment of a broadband-from-space…
MK Party flag. 2 minutes The MK Party says it has deliberately decided not to involve itself in the ongoing debate over the reversal of the Value Added Tax (VAT) increase. MK Party Secretary-General Floyd Shivambu addressed members during a mini rally held in Mdantsane, Eastern Cape, yesterday. Finance Minister Enoch Godongwana recently submitted documents…
2 minutes The Western Cape High Court has ruled to suspend the VAT increase announcement made last month, preventing the tax hike from taking effect on May 1. In a significant ruling, the court also overturned the resolution of the National Assembly adopting the report of the Joint Standing Committee on Finance on the Fiscal…
The Democratic Alliance party flag 1 minute The Democratic Alliance (DA) says the VAT hike will proceed as planned on 1 May, arguing that Finance Minister Enoch Godongwana cannot unilaterally reverse it without legislation approved by Parliament. The party marks Freedom Day in Mitchells Plain on the Cape Flats and expresses confidence that its legal…
An illegal sand mining site in Limpopo. 2 minutes Eleven people have been arrested in connection with illegal sand mining and for being in the country illegally. The suspects were arrested in the Sekhukhune, Mopani and Vhembe districts in Limpopo during Operation Vala Umgodi. The operation led to the arrest of six suspects for charges…
ABSA logo at a branch 1 minute The South African Reserve Bank’s Prudential Authority has imposed an administrative fine of R10 million on Absa Bank for failing to conduct a thorough review of certain clients. These clients included two politically exposed persons, four foreign prominent public officials and three domestic prominent influential persons. According to…
Tax-related material on a desk. 3 minutes The South African Revenue Services (SARS) has urged Value Added Tax (VAT) vendors, including retailers, to continue charging the 15% VAT rate. Commissioner Edward Kieswetter says in a statement that SARS recognises the significant impact that the decision to reverse the 0.5 percentage point increase will have on…
3 minutes South Africa’s property sector is making significant progress in implementing anti-money laundering (AML) measures, according to regulators. The Property Practitioners Regulatory Authority (PPRA) reports that estate agents are demonstrating strong compliance efforts as the country works towards removal from the Financial Action Task Force’s (FATF) greylist. However, the Financial Intelligence Centre (FIC) warns…
