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Source: National Treasury, Republic of South Africa | Jan 22, 2024

South Africa concludes tough but productive trip to World Economic Forum (WEF) 2024

The overall WEF 2024 theme, Rebuilding Trust, underlined South Africa’s continued role as a regional and global leader in the international community

South Africa’s delegation to the World Economic Forum (WEF) 2024 Annual Meeting in Davos used the platform to meaningfully engage investors, civil society, businesses and governments, and drove home the message that the country remains a top destination for growth and investment. The delegation was led by the Minister of…

Source: National Treasury, Republic of South Africa | Oct 10, 2023

South Africa: Treasury extends Eskom Municipal Debt Relief Support Programme

Eskom Municipal Debt Relief Support Programme – Date for Applications Extended

On 31 March 2023, National Treasury’s Intergovernmental Relations unit issued MFMA Circular No. 124 (https://bit.ly/43DcphL) as part of the Eskom Municipal Debt Relief. Government’s debt relief package for Eskom is intended to improve the utility’s balance sheet and facilitates the proposal for Eskom to write off municipal debt under strict conditions and with…

Source: National Treasury, Republic of South Africa | Jul 31, 2023

South Africa: Treasury on the Publication of the 2023 Budget Draft Tax Bills and Draft Regulations

These draft tax bills and draft Regulations give effect to the 2023 Budget tax proposals, which were outlined in Chapter 4 and Annexure C of the 2023 Budget Review

The National Treasury and the South African Revenue Service (SARS) today publish, for public comment, the 2023 draft Rates and Monetary Amounts and Amendment of Revenue Laws Bill (2023 draft Rates Bill), the 2023 draft Taxation Laws Amendment Bill (2023 draft TLAB), the 2023 draft Tax Administration Laws Amendment Bill…

Source: National Treasury, Republic of South Africa | Jun 08, 2023

South Africa: National Treasury on decision on ESKOM’s partial exemption

The Minister recognises the commitment of the Eskom board and management to fight and expose fraud and corruption

The Minister of Finance has determined that Eskom not be granted a partial exemption from section 55(2)(b)(i) of the Public Finance Management Act (PFMA), (Act No. 1 of 1999 – the Act) and Treasury Regulation 28.2.1, from disclosing irregular, fruitless and wasteful expenditure and material losses from criminal conduct in…

Source: National Treasury, Republic of South Africa | May 05, 2023

South Africa: Treasury Gazettes Notice on Tax Exemption of Bulking Payments to Former Members of Closed Retirement Funds

Publication of Gazetted notice on Tax exemption of bulking payments to former members of closed retirement funds in terms of paragraph 2d of the second schedule to the Income Tax Act, 1962 (Act No 58 Of 1962)

The National Treasury and South African Revenue Service (SARS) today publish the gazetted Notice (Government Gazette no. 3356 dated 3 May 2023) on tax exemption of bulking payments to former members of closed retirement funds in terms of Paragraph 2D of the Second Schedule to the Income Tax Act, 1962…

Source: National Treasury, Republic of South Africa | Apr 05, 2023

South Africa: Treasury on Withdrawal of Gazette - Eskom Holdings Exemption

Minister of Finance Enoch Godongwana announced the decision to withdraw the exemption on Wednesday, 5 April 2023, during an appearance before a joint meeting

The Minister of Finance has decided to withdraw the exemption from reporting on irregular, fruitless and wasteful expenditure granted to state-owned power supplier Eskom, to allow for a period of further engagement and written technical input from all relevant stakeholders on the matter. Minister of Finance Enoch Godongwana announced the decision to withdraw…

Source: National Treasury, Republic of South Africa | Apr 04, 2023

South Africa: Minister Enoch Godongwana Express Condolences on Passing of His Chief of Staff, Percy Mthimkhulu

As an undergraduate Mr Mthimkhulu, warmly known as “Lenin” to his friends, took an active role in student politics, eventually rising to the position of Deputy Chairperson of South African Students Congress (SASCO)

It is with great sadness that Minister Enoch Godongwana confirms the tragic and untimely passing of Mr Percy Mthimkhulu, who served as his Chief of Staff in the Ministry of Finance since August 2021. Mthimkhulu died peacefully in his sleep. Minister Godongwana offers his condolences, and those of the Ministry and the National…

Source: National Treasury, Republic of South Africa | Mar 13, 2023

South Africa: Treasury Releases Local Government Revenue and Expenditure Report

The report was prepared by using figures from the Municipal Standard Chart of Account (mSCOA) data strings

National Treasury has released the local government revenue and expenditure report for the second quarter of the 2022/23 financial year. This report covers the performance against the adopted budgets of local government for the second quarter of the municipal financial year ending on 31 December 2022 and includes spending against…

Source: National Treasury, Republic of South Africa | Feb 24, 2023

Treasury on Listing of South Africa by the Financial Action Task Force

Listing of South Africa by the Financial Action Task Force as a “jurisdiction under increased monitoring”

Government notes the Financial Action Task Force’s (FATF’s) decision to list South Africa as a “jurisdiction under increased monitoring”, or more commonly referred to as FATF’s “grey list”. The FATF made its decision at the FATF Plenary meeting which took place in Paris, France earlier today, 24 February 2023. Following intensive engagements with…

Source: National Treasury, Republic of South Africa | Jan 26, 2023

South Africa: Minister Enoch Godongwana on meeting with United States (U.S.) Secretary of Treasury Janet Yellen

Topping the agenda was the state of the global economy, policies to promote regional growth and investment, and the further development of trade and investment ties

The United States Secretary of Treasury Janet Yellen and Minister of Finance Enoch Godongwana met in Pretoria on Thursday to discuss a range of issues and explore ways to extend the already extensive areas of economic and financial cooperation between the two countries. Topping the agenda was the state of…

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