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Over the next few years, government plans to implement a global minimum corporate tax to limit the negative effects of tax competition. “Multinational corporations with annual revenue exceeding €750 million will be subject to an effective tax rate of at least 15%, regardless of where their profits are generated. The proposed reform is expected to yield an additional R8 billion in corporate tax revenue in 2026/27,” Finance Minister Enoch Godongwana said on Wednesday in Parliament. Delivering the 2024 National Budget Speech, Godongwana encouraged interested parties to provide comments on the draft Global Minimum Tax Bill published today. The draft Global…
With weak performance by South Africa’s economy resulting in a sharp deterioration in tax revenue collection for 2023/24, government has proposed tax measures to alleviate immediate fiscal pressure and support faster debt stabilisation. Delivering the 2024 National Budget Speech, the last Budget Speech of the sixth administration, Finance Minister Enoch Godongwana said at R1.73 trillion, tax revenue for 2023/24 is R56.1 billion lower than estimated in the 2023 Budget. “The shortfall is largely due to the decline in corporate profits and revenue from taxes on mining. Over the medium term, revenue projections are R45.6 billion higher than the 2023 MTBPS…
Police in Berea, in KwaZulu-Natal, have opened cases of impersonating a police officer, possession of drugs and fraud against a 38-year-old foreign national on Vause Road in Musgrave on Saturday. The suspect was also found in possession of rock cocaine and a fraudulent police identification card. The police were executing their crime prevention duties when they stopped and searched the man. A subsequent search at his place of residence on Okleigh Drive led to the recovery of fraudulent fishing permits, more fraudulent police identification cards, fraudulent refugee asylum work permits, a police date stamp, as well as 15 rounds of…
South Africans can look forward to a “unique” State of the Nation Address (SONA) this evening, as the important event is being held against the backdrop of the country preparing to commemorate 30 years of democracy. This according to President Cyril Ramaphosa’s spokesperson, Vincent Magwenya, who was addressing the media in Cape Town on Wednesday. SONA will be held at the Cape Town City Hall from 7pm. “This [SONA] is different and unique in so many ways. It is important that it is allowed its own expression and that South Africans can take out of it the celebratory element. We…
Eskom is rolling out its load limiting project – aimed at optimising electricity consumption – across Gauteng following the project’s successful implementation in Fourways, Johannesburg. According to the power utility, load limiting aims to better balance the supply and demand of electricity during Stages 1 – 4 of load shedding. “Through load limiting measures during Stages 1 to 4 of load shedding, customers’ electricity capacity will be reduced from 60/80 Amps to 10 Amps. This will allow customers to continue with the minimal use of electricity for essential appliances such as lights, TVs, Wi-Fi routers, fridges and security systems. “An…
Higher Education, Science and Innovation Minister, Dr Blade Nzimande, has hailed the late Professor Mochichi Samuel Mokgokong, as one of our country’s most decorated academics and scholars. Nzimande joined the nation and the academic fraternity in mourning the passing of Mokgokong, who passed away last week following a battle with cancer. Mokgokong was well known for heading the team responsible for separations of craniopagus conjoined twins and has trained and mentored more than 20 neurosurgeons. Nzimande highlighted that Mokgokong has a long and distinguished academic career in the medical field, which has seen him form part of some of the…
Telecommunications provider Telkom says the R5.9 billion it had pledged during the last South African Investment Conference (SAIC) will contribute towards enhancing connectivity, especially as the country prepares for the national general elections this year. The company is deploying 4G and 5G network infrastructure nationally. At the fifth South Africa Investment Conference (SAIC) which was held in April 2023, Telkom announced that it would be investing R5.97 billion in Information and Communication Technologies (ICT) infrastructure development across South Africa. In a statement on Wednesday, the company said it wants to develop and enable solutions that enrich customers’ lives and enable…
The South African – Saudi Arabia Business Council has committed to boosting trade as part of efforts to grow the economies of both countries. In 2023, South Africa’s exports to Saudi Arabia increased to R7.3 billion from R6.6 billion in 2022, while imports from Saudi Arabia decreased to R54.6 billion in 2023 from R73.6 billion in 2022. The exported goods include agricultural products, motor vehicles, and basic chemicals, whereas the import items mainly consisted of refined petroleum and related products and crude oil. Speaking at a press briefing in honour of the visiting Saudi business delegation, Co-Chair of the South…
In a bid to ensure a smooth start to the 2024 academic year, the National Student Financial Aid Scheme (NSFAS) will process up to R4.2 billion as an upfront payment to all higher learning institutions, prior to the application and registration finalisation period. Higher Education, Science and Innovation Minister, Dr Blade Nzimande, made the announcement during a media briefing in Pretoria on Tuesday on the department’s state of readiness for the opening of the 2024 Post School Education and Training (PSET) academic year. “Out of its financial reserves, NSFAS will pay R1 billion to TVET [Technical Vocational Education and Training]…
The National Student Financial Aid Scheme (NSFAS) has received 1 545 822 applications for the 2024 academic year as of 21 January, with additional applications expected before the application cycle closes on 31 January 2024. Briefing the media on the department’s state of readiness for the opening of the 2024 Post School Education and Training (PSET) academic year on Tuesday, Higher Education, Science and Innovation Minister, Dr Blade Nzimande, said the scheme has provisionally funded 657 703 South African Social Security Agency (SASSA) recipients’ applicants. He urged all NSFAS applicants to submit a consent form in order to verify relevant…
The Gauteng Department of e-Government has urged learners who wrote their matric exams last year to use the Matric Results Online System to access their results. The matric results for the National Senior Certificate exams are expected to be released on Friday, 19 January, while the ministerial announcement on the results will be made on Thursday, 18 January. The Gauteng MEC for Cooperative Governance and Traditional Affairs, e-Government, Research and Development, Mzi Khumalo, said the system empowers learners. “The Matric Results Online System is a testament to our commitment to harnessing the power of technology to enhance our education system.…
Finance Minister Enoch Godongwana has reaffirmed South Africa’s commitment to engaging in structural reforms that will foster an environment fertile to economic growth and competitiveness. The Minister was speaking during a panel discussion at the World Economic Forum (WEF) Annual Meeting held in Davos, Switzerland. Godongwana is leading the South African delegation to the critical meeting. Structural reforms in South Africa are targeted at – among other things – electricity, infrastructure, water and logistics, and are driven by Operation Vulindlela. Operation Vulindlela is a joint initiative of the Presidency and National Treasury to accelerate the implementation of structural reforms and…
Higher Education, Science and Innovation Minister, Professor Blade Nzimande, has revealed that government has set aside a R3.8 billion initial capitalisation fund to support “missing middle” students. The new Comprehensive Student Funding Model aims to support students including those currently not supported by the National Financial Aid Scheme (NSFAS) bursary and funding policy. This category of students is those who come from families who have a total income of more than R350 000, but not more than R600 000 per annum. Nzimande, who was addressing the media on Sunday, revealed that the funding model is divided into two phases. Phase…
Citizens in the country can look forward to the airing of a brand new show on their tele’s – set to educate, inspire and connect with South Africans about issues that affect their daily lives. The Government Communication and Information System (GCIS) is set to launch a 13 episode Advertiser Funded Programme (AFP) called ‘Citizens Connect’, to be broadcast on SABC 2, starting Thursday, 18 January 2024 at 8:30 pm. “This collaboration with SABC 2 is a testament to government’s commitment to reach a diverse audience and deliver impactful content,” said the GCIS in a statement on Friday. Citizens Connect…
Israel’s response to the Hamas attack on 7 October 2023 has crossed the line and breaches the Convention on the Prevention and Punishment of the Crime of Genocide also referred to as “the Convention”. This is according to Minister of Justice and Correctional Services, who delivered his opening remarks at the International Court of Justice (ICJ) in The Hague, Netherlands, on Thursday. “Madam President, ‘in extending our hands across the miles to the people of Palestine, we do so in the full knowledge that we are part of a humanity that is at one’. These were the words of President…
The City of Ekurhuleni is urging the youth, and unemployed residents to take advantage of a series of free online courses tailored to expand one’s knowledge on entrepreneurship and business ventures. In a statement on Thursday, the city said the courses are presented by computer information systems company CISCO, an international technology company, in partnership with the City of Ekurhuleni, the National Library of South Africa and the Gauteng Department of Sport, Recreation, Arts, and Culture. Interested candidates can apply online at https://tinyurl.com/ApplyForCiscoCourses. Applications to free online course closes on Friday, 26 January 2024. The course will be offered as a…
The Western Cape Department of Cultural Affairs and Sport, through its Youth and After School Programme, is calling for unemployed youth, aged between 18 and 25, to apply to be part of the Year Beyond Youth Service Programme for 2024. Applications for the education programmes are now open for youth living in the Western and Eastern Cape who meet the criteria. All the education programmes require a matric certificate and some require minimum marks for language or maths. The Year Beyond platform offers young people the opportunity to get a year of hands on working experience and build their work…
Minister of Electricity Kgosientsho Ramokgopa has reiterated that while Eskom is working hard on improving its generation system, citizens can still expect load shedding. Providing an outlook on Eskom’s generation capabilities during a media briefing on Tuesday in Pretoria, the Minister explained that the majority of units remain unreliable and this is being addressed through the planned maintenance that Eskom is conducting routinely. Due to legacy issues including under investment at Eskom and the entity not having sufficiently planned for maintenance, South Africa’s grid is unreliable. “We will have periods of days of no load shedding and there will be…
The Department of Planning, Monitoring and Evaluation (DPME) has cautioned members of the public and stakeholders of a fake TikTok account impersonating Deputy Minister Pinky Kekana. The TikTok account “Pinky_Kekana3” has been fraudulently using the Deputy Minister’s name and photos while disseminating untrue promises of teaching clients to trade and quickly make amounts ranging from R56 000 to R67 000. The department said this is false and “intended to swindle and scam innocent citizens”. “For the record, Deputy Minister Kekana does not have a TikTok account and the Ministry and DPME do not offer any educational trading programmes about making…
The Department of Correctional Services (DCS) says a decision taken by the Correctional Supervision and Parole Board (CSPB) on 24 November 2023 to place inmate Oscar Pistorius on parole remains valid and is to be enforced. Pistorius’s parole will be effective from 5 January 2024. “… Pistorius shall be admitted into the system of Community Corrections and will be monitored until the expiry date of his sentence in 2029,” said the department in a statement. Pistorius was convicted of killing his girlfriend Reeva Steenkamp on Valentine’s Day in 2013. In 2017, the Supreme Court of Appeal sentenced the former Paralympian…
The Ministry of Small Business Development has warned members of the public about a number of fake Facebook accounts, which purport to belong to the Minister of Small Business Development, Stella Ndabeni-Abrahams. The ministry has strongly condemned the fraudulent use of the Minister’s name, profile and pictures to create fake accounts, whose sole intention is to defraud and scam innocent citizens, especially small business owners. “We would like to remind and advise all law-abiding citizens that neither the Minister nor the department will ever request ‘upfront fees’ from members of the public in exchange for accessing funding or business opportunities.…
The South African Police Service (SAPS) have arrested more than 90 undocumented foreign nationals who are suspected to be illegal miners. The police are conducting integrated operations against illegal mining, focusing on affected districts such as Johannesburg, Ekurhuleni and the West Rand. These operations continue to yield positive results, the SAPS said. “During the operations the police seized illegal mining tools that included, pendukas, penduka stands, generators, gas cylinders, jack hammers, steel balls, gold bearing material, a welding machine, water pump motors and two live ammunition of a rifle. Illegal mining sites were also disrupted and dismantled. “The law enforcement…
The Special Investigating Unit (SIU) says it has received several reports of individuals purporting to be Head of the SIU, Advocate Andy Mothibi, or his representatives. The scammers are reportedly going around soliciting money from public representatives, office bearers, and members of the judiciary. The reports have been received in the North West and Free State provinces this week, prompting the SIU to issue a public warning. “The SIU conducts its investigations with integrity and professionalism. “We never ask for money from subjects of investigations or anyone linked to our work. Members of the public are urged to be vigilant,…
A man has been sentenced to 15 years imprisonment for defrauding the Unemployment Insurance Fund and unduly benefitting from the COVID-19 Temporary Employer/ Employee Relief Scheme (TERS). The man, Dennis Patrick Lerato Modika, was sentenced in the Johannesburg Specialised Commercial Crimes Court, after being found guilty on eight counts. According to the National Prosecuting Authority (NPA), Modika submitted some 1 358 fictitious employee claims over a period of two years to the Department of Labour to benefit from the fund. “The accused and his company did not have the declared employees in their employ and were therefore not entitled to…
SA Cabinet has approved state-owned company Petro SA’s recommendation of GazpromBank Africa as an investment partner for the reinstatement of the Mossel Bay Gas to Liquids (GTL) refinery plant and production. This according to Minister in the Presidency Khumbudzo Ntshavheni who was speaking during a post-cabinet media briefing on Monday. Ntshavheni highlighted that the refinery is one of the “critical components of PetroSA’s turnaround strategy”. “Cabinet was updated about the process followed by CEF to source partners with requisite technical and financial resources to support PetroSA in bringing the refinery back to full operation. The preferred partner would share in…