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…
Taxis at a rank in Gauteng 2 minutes The South African National Taxi Council (SANTACO) defends government’s decision to allocate R408 million from the COVID-19 Relief Fund to the taxi industry. This comes after Build One South Africa (BOSA) questioned the once-off gratuity, which was allocated in the 2025-26 budget. Responding to a Parliamentary question…
A VAT graphic with a shopping trolley and a calculator. 1 minute The Cape Chamber of Commerce and Industry (CCAI) says the decision not to increase Value Added Tax (VAT) by 0.5 % point is a relief not only for the poor but also for business. VAT will remain at 15%. CCAI says government will…
Eskom electricity infrastructure. 1 minute Eskom has attributed its decision to suspend load shedding to the recovery of more than 2 000 megawatts of generation capacity and sufficient emergency reserves. It also says there is an expected decline in electricity demand. Eskom implemented stage two load shedding yesterday due to high demand and loss of…
[FILE IMAGE]: US President Donald Trump delivers remarks on tariffs in the Rose Garden at the White House in Washington, D.C., U.S., April 2, 2025. 4 minutes Businesses across multiple industries are increasing prices, cutting financial guidance and warning of growing uncertainty as US President Donald Trump’s trade war pushes up costs, up-ends supply chains…
