The National Treasury announced on Wednesday that the gross tax revenue for 2020/21 is expected to be R213.2 billion lower than projections in the 2020 Budget.
The personal income tax brackets and rebates will increase by 5 percent, providing relief to households by ensuring that inflation does not automatically increase the individual tax burden, the National Treasury said on Wednesday.
The National Treasury has allocated R9 billion to fund the country’s COVID-19 vaccine roll-out strategy.
There has been a higher than expected uptake of tax deferral measures for provisional tax, excise duties that were aimed at providing relief after the COVID-19 pandemic slowed economic activity.
A bulk of National Treasury’s fiscal consolidation measures will come from the public service wage bill, the department said on Wednesday.
Government will increase the excise duties on alcohol and tobacco products by 8%, the National Treasury said on Wednesday.
Government’s fiscal strategy over the next three years will be to narrow the deficit and stabilise the debt-to-GDP ratio, the National Treasury said on Wednesday.
Eighteen suspects have been arrested in connection with South African Social Security Agency (SASSA) disability grant corruption in Khobo village outside Tzaneen, Limpopo.
Higher Education, Science and Innovation Minister, Dr Blade Nzimande, has commended Edendale Hospital for its level of preparedness to administer the COVID-19 vaccine.
South Africans have been invited to attend a virtual reading session hosted by the National Reading Coalition (NRC) on Wednesday afternoon to discuss the book, “We need new names”, by NoViolet Bulawayo.
