Finance Minister Enoch Godongwana, Deputy Minister David Masondo, acting Treasury DG Ismail Momoniat, and SARS Commissioner Edward Kieswetter.Finance Minister Enoch Godongwana tabled the 2023 Budget on Wednesday. Here is all of News24 Business' coverage: This year's National Budget, delivered on Wednesday, was dominated by South Africa's power woes, with Finance Minister Enoch Godongwana announcing that government will take over a large part of Eskom's debt.
The Treasury hopes that the debt relief will set the company on a path to sustainability. Eskom has R422 billion of debt, mostly incurred from the building of mega power stations Medupi and Kusile, which it cannot service from the revenue it earns. This has weighed down Eskom's operational capacity, impeded cash flows for crucial functions like maintenance and limited its ability to borrow to expand the transmission grid.
Currently, businesses that launch solar photovoltaic projects below 1MW are able to deduct 100% of the cost from their tax liability in the first year.The government is reworking its bounce-back loan guarantee scheme to support the rollout of renewables for small businesses that want to beat load shedding.
The Treasury has pencilled in a 3.3% increase in the wage bill over the medium term. However, this is unlikely to be the final outcome as government last week tabled a 4.5% increase offer for 2023/24 in the Public Sector Coordinating Bargaining Council. Amid expectations that South Africa will be added to the global anti-money laundering body's grey list on Friday, Treasury says the country needs more prosecutions and the freezing of more assets to demonstrate its compliance.
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Fonte: News24 - 🏆 4. / 80 Consulte Mais informação »
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Fonte: News24 - 🏆 4. / 80 Consulte Mais informação »
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