Economy / General

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.

SA looks to mid-term budget for a turnaround plan

Despite the ongoing uncertainty around when the medium-term budget policy statement (MTBPS) will be revealed, Minister Tito Mboweni has his work cut out for him. Addressing pressing national issues such as rising debt levels, ailing state-owned entities, and sluggish economic growth will therefore be top priority for Treasury.

What can SA and Nigeria do to grow faster?

The heads of state of sub-Saharan Africa’s two biggest countries – Nigeria and South Africa – met earlier in October as part of continuing bilateral engagements aimed at strengthening and deepening cooperation between the two countries.

Business confidence falls to 20-year low