SARS to impose hefty penalties for companies that fail to submit income tax returns

By: ProBonoMatters As from December 2018, companies that fail to submit their income tax returns will be slapped with hefty penalties, ranging from R250 to R16 000 per month. That’s a warning issued by the South African Revenue Service (SARS) in an email message sent to tax payers. It suggests that SARS is tightening the … Read moreSARS to impose hefty penalties for companies that fail to submit income tax returns

A dim festive season is in-store due to rising fuel prices

We might face a dim festive season if the current pace of fuel prices increases is sustained in the two months ahead. By: Paul Makube, Senior Agricultural economist at FNB Agri-Business After a brief hiatus with the government absorbing about R500 million of the fuel hike and only allowing 5 cents increase in September, the … Read moreA dim festive season is in-store due to rising fuel prices

Ramaphosa’s economic challenge in numbers: Unemployment, inequality and prosperity

Ujuh Reporter While South Africa’s President, Cyril Ramaphosa, started well and has promised a lot more positivity than his predecessor Jacob Zuma poor economic performance remains his Achilles heel. Yolanda Naudé Citadel Head of Fund Research and Portfolio Manager has captured in scary numbers the economic challenges facing South Africa. Naudé states that the country’s scorecard … Read moreRamaphosa’s economic challenge in numbers: Unemployment, inequality and prosperity

ANC: Competition authorities must have powers to break up monopolies

SATopShops South Africa’s  ruling party, the African National Congress (ANC), has called on the country’s parliament to fast track the processing of the Competition Amendment Bill which promises to introduce drastic measures of tackling the domination of the key sectors of the country’s economy by a few  firms. Key propositions from the bill include enhancing … Read moreANC: Competition authorities must have powers to break up monopolies

The ANC is deeply concerned about the weak rand and rising fuel prices

ANC Statement The African National Congress notes with deep concern the continued weakening of the rand and the implications this have for our country’s growth prospect including the management of inflation target. We are further concerned by the hikes in petrol cost which is now at its highest level ever and is putting a squeeze … Read moreThe ANC is deeply concerned about the weak rand and rising fuel prices

Schools must obey the law when enforcing payment of school fees

By Sipho Mzakwe  “The school sold my lounge suite, microwave and fridge… it’s now threatening to sell my house too”. The household items of the parent who phoned the Equal Education Law Centre earlier this year had just been confiscated by debt collectors seeking to settle a R25,000 outstanding payment for school fees. When her child … Read moreSchools must obey the law when enforcing payment of school fees

More fuel price increases are in store and will hit the consumer

The consumer will be hardest hit as disposable income is eroded by consecutive fuel price increases, and the daily cost of transporting, packaging and distributing food will eventually be passed on. By: Paul Makube, Senior Agricultural economist at FNB Agri-Business South Africa’s agricultural sector has powered relatively well post the devastating drought two years ago, … Read moreMore fuel price increases are in store and will hit the consumer