Estimated 10% of GDP lost to Transnet inefficiencies; ARIA calls for private sector intervention
ARIA wants the monopoly of Transnet broken, with greater private sector involvement for which there is significant appetite.
ARIA wants the monopoly of Transnet broken, with greater private sector involvement for which there is significant appetite.
Consumers in South Africa continue to grapple with a high cost of living, particularly with the latest rising fuel costs.
Cabinet will announce its decision on the future of e-tolls as a funding mechanism for Gauteng freeways in October this year.
Minister of Finance has today submitted a letter requesting the tabling of a two-month proposal for the extension of the reduction in the general fuel levy.
Despite the rand slumping to almost R16.50/$ in the review period and the Road Accident Fund and fuel levies taking affect, the pump price of petrol will decrease.
South Africa should “seriously consider” freezing or decreasing its fuel levy to reduce the impact on consumers of record-high gasoline prices, the ruling African National Congress said.
On the back of increases to the general fuel levy and Road Accident Fund levy coming in April, motorists now also have to contend with increases to toll rates announced by the South African National Roads Agency.
There was precious little in the Budget to assist in growing the economy by way of a reduction in tax rates or incentives to excite local or foreign investors.
One of the bows in Pravin Gordhan’s quiver for this year’s budget is an increased fuel levy. But expect significant knock on effects for consumers and business.
This piece shows the percentage contribution that various tax types are making to South Africa’s total tax revenue collections.