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South Africa has already seen #Ramaprogress.
Treasury will need to think outside the box this year if it is to make any meaningful difference to its current revenue shortfall, estimated to currently stand at around R50.8 billion. This is according to David French, Tax Consulting Director at Mazars, who says that, ahead of the 2018 Budget Speech, Treasury’s options to raise revenue are becoming increasingly limited.
Optimism has entered the South African market like a breath of fresh air with Jacob Zuma resigning last night.
The National Treasury has never before had such a big challenge as it does this year in having to plug a seemingly continuously growing funding gap in its Budget vote later this month, from a shrinking pool of resources. It may be left with little choice but to squeeze the trusty ‘golden goose’ even further.
If you had to hazard a guess, when do you reckon the COFI Bill will be signed into law?