Finance minister gives South Africans a tax breather

  • 📰 ecr9495
  • ⏱ Reading Time:
  • 42 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 20%
  • Publisher: 51%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

The tax breather will also extend to motorists and other consumers of fuel. ECRNewsWatch

"Over the medium-term, revenue projections are R6 billion higher than the estimates of the 2022 MTBPS. As a result, there are no major tax proposals in this budget.

"The improvement in revenue is due to higher collection in corporate and personal income taxes, and in customs duties. This partially offset the lower value-added tax estimates.""The general fuel levy and the Road Accident Fund levy will not be increased this year." "To ease the impact of the electricity crisis on food prices, the refund on the Road Accident Fund levy for diesel used in the manufacturing process, such as for generators, will be extended to manufacturers of foodstuffs. This takes effect from 1 April 2023 for two years.

Godongwana announced some renewable energy incentives as part of an effort to lessen the impact of the energy crisis. He says individuals who install rooftop solar panels will be able to claim a tax rebate of 25% of the cost of the panels from 1 March.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 38. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines