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After a decade of slow economic growth, the impact of COVID-19 on real income levels is likely to set the South African economy back several years.
Finance Minister Tito Mboweni delivered a special adjustment budget that forecast a deep recession, plunging tax revenue and surging state debt.
Tax investigators will target international taxes and fraud related to VAT refunds and target individuals who dodge tax to boost tax revenues.
A sovereign debt crisis is on the cards if South Africa doesn’t rein in spending, Minister of Finance Tito Mboweni has warned.
Finance Minister Tito Mboweni’s full supplementary budget speech, in which he sets out the plan to forge a new economy shattered by the Covid-19 pandemic.
A few hours after finance minister Tito Mboweni’s presentation of the 2020 Budget to Parliament, Biznews community members joined in our webinar with publisher Alec Hogg.
Finance Minister Tito Mboweni’s commitment to slash government spending is unlikely to rein in debt and stabilise state finances over the medium term.
As the analysis builds up in reaction to Finance Minister Tito Mboweni’s 2020 budget speech, we’ll compile some of the responses.
SA’s colourful finance minister Tito Mboweni cracked his customary jokes in a relaxed Presser ahead of today’s Budget Speech.
The decision to avoid tax increases was informed by the near record tax-to-GDP ratio of 26.3% and a tax buoyancy ratio (tax revenue growth relative to economic growth) which has fallen to 0.93%.