26-09-2011 – The Tax Administration Bill, which could introduce far reaching changes to out tax system is currently before Parliament. The Bill has been a work-in-progress for a few years now, with SARS engaging public comment and stakeholder discussions throughout its development. The Bill has had its share of criticism... Read more
Rates increases lower compared to draft approved in April 30-06-2011 -The five year Integrated Development Plan and 2011/12 Budget for the Nelson Mandela Bay Municipality was approved at a full meeting of council today. Savings worth R45 million were identified resulting in proposed tariff increases being reduced significantly from... Read more
  Businesses can expect transparent tender processes and faster turnaround times with the new rules issued by National Treasury on Tuesday. Business chambers welcomed National Treasury’s instruction note aimed at combating tender fraud and reducing turnaround times for settling payments to business in 30 days. Previously the process of... Read more
There appears to be a real intent on the part of government to provide transparency and better access for businesses to become part of the economy.  Here is my pick of the issues that are worth noting: Industrial support Government intends to support for the Industrial Policy Action Plan... Read more
The Eastern Cape Development Corporation (ECDC) is pleased that the Eastern Cape has received the third largest slice, R44 billion, of Minister Pravin Gordhan’s budget allocation totaling some R889 billion, says ECDC chief executive Sitembele Mase. This allocation is expected to grow to about R49 billion by the 2013/14... Read more
Building solid school infrastructure is expected to bolster job creation in the Eastern Cape as the province takes the chunk of school buildings budget while the government’s New Growth Path (NGP) centres on employment and public infrastructure. East London based independent economist Philip Cole says the Extended Public Works... Read more
Minister Gordon delivered a good budget this afternoon under difficult economic circumstances.  There have been no real surprises from a tax perspective. KPMG welcomes the focus on incentives for job creation and development of youth employment, as well as the personal income tax relief of R8.1 billion. A firmer... Read more
Overall, the Budget was positive, although there were some worrying aspects. On the positive side, the Minister’s focus on job creation, his support for small and medium enterprises, and the private sector incentives and steps announced to create more employment  are to be welcomed. Business would, however, like specific... Read more
During the Mbeki/Manuel era, we became used to very orthodox budgets being the norm. Fiscal conservatism was the order of the day, with the budget deficit and the national debt (relative to GDP) gradually but persistently reduced from levels that risked becoming unsustainable, to being exemplary. During this era... Read more
Indications are that the wheels of the Eastern Cape economy are starting to turn with export activity at the province’s commercial ports showing a marked increase in 2010 up by 1,5 million metric tons from the previous year. This comes at the back of positive figures from the Eastern... Read more