Economy / General

PwC focus on MTBPS 2019 – 30 October 2019

Unemployment rate climbs to 29.1% in 2019Q3

Inflation declines to 4.1% y-o-y in September

Medium Term Budget Policy Statement 2020: SARS Performance and Government Spending

The Medium-Term Budget Policy Statement is taking place on 30 October 2019, and taxpayers anticipate significant shortfalls in tax collections and associated downward revision of the tax revenue collection target for 2020. ‘Within the context of actual economic performance over the last few years, we suggest that the tax collection target is unrealistic and damaging to the economy and to SARS, and that SARS’ current performance is actually satisfactory,’ says Patricia Williams, tax partner, Bowmans.