35 h. ago SARS Commissioner Urges G20: ‘Build Collection Capacity Before Hiking Taxes

South African Revenue Service (SARS) Commissioner Edward Kieswetter has advised G20 finance ministers that bolstering tax collection capacity is a far more effective path to increased revenue than simply raising tax rates. His comments came during a panel discussion held on Wednesday, on the sidelines of the G20 Finance Ministers and Central Bank Governors’ meeting… Read More »SARS Commissioner Urges G20: ‘Build Collection Capacity Before Hiking Taxes The post SARS Commissioner Urges G20: ‘Build Collection Capacity Before Hiking Taxes first appeared on iAfrica.

Politics

48 h. ago No complaints from UK firms about SA’s expropriation bill: Reeves

Reeves says no British businesses complained to her about SA's recently signed Expropriation bill.

Politics

3 d. ago Sudan’s RSF and Allies Form Parallel Government Amid Civil War

Sudan’s Rapid Support Forces has inked a charter to set up a parallel “government of peace and unity” with allied political and armed groups. The charter was signed during a closed event in Kenya, leading to criticism of Nairobi by the army-aligned Sudanese government. The document envisions Sudan as a secular, democratic, and non-centralized state… Read More »Sudan’s RSF and Allies Form Parallel Government Amid Civil War The post Sudan’s RSF and Allies Form Parallel Government Amid Civil War first appeared on iAfrica.

Politics

4 d. ago British Archaeologist may have Uncovered Second Tomb of Pharaoh Thutmose II

Piers Litherland, who previously discovered the tomb of Pharaoh Thutmose II in Luxor, has identified a second tomb, potentially containing the pharaoh’s mummified body and grave goods. Hidden beneath 23 meters of limestone rubble and plaster, the tomb was deliberately concealed after Thutmose II’s death around 1479BC. Litherland’s team uncovered a key inscription, suggesting that… Read More »British Archaeologist may have Uncovered Second Tomb of Pharaoh Thutmose II The post British Archaeologist may have Uncovered Second Tomb of Pharaoh Thutmose II first appeared on iAfrica.

Politics

6 d. ago G20 Foreign Ministers’ Meeting Highlights Economic Divisions Amid Global Tensions

The recent G20 foreign ministers’ meeting revealed significant economic divisions, as global economic challenges, including inflation, trade tensions, and the ongoing Ukraine conflict, remain unresolved. U.S. Secretary of State Marco Rubio’s absence, amid accusations of anti-American sentiment, underscored the rift between major economies. Despite the group’s importance in addressing international economic issues, differing stances on… Read More »G20 Foreign Ministers’ Meeting Highlights Economic Divisions Amid Global Tensions The post G20 Foreign Ministers’ Meeting Highlights Economic Divisions Amid Global Tensions first appeared on iAfrica.

Politics

6 d. ago South Africa’s VAT Increase Proposal: Balancing Revenue and Economic Impact

Finance Minister, Enoch Godongwana, proposed raising the value-added tax (VAT) from 15% to 17% to address a significant budget deficit. This proposal led to a cabinet rift, resulting in the unprecedented postponement of the national budget presentation. Proponents argue that increasing VAT would generate essential revenue and is more efficient than other taxes. However, critics… Read More »South Africa’s VAT Increase Proposal: Balancing Revenue and Economic Impact The post South Africa’s VAT Increase Proposal: Balancing Revenue and Economic Impact first appeared on iAfrica.

Politics

6 d. ago Anglo American Writes Down De Beers by $2.9 Billion Amid Market Challenges

Anglo American has reduced the value of its diamond subsidiary, De Beers, by $2.9 billion, marking the second consecutive year of such writedowns. This adjustment reflects ongoing challenges in the diamond industry, including the rise of lab-grown diamonds and decreased consumer spending in China. Consequently, Anglo American reported a net loss of $3.1 billion in… Read More »Anglo American Writes Down De Beers by $2.9 Billion Amid Market Challenges The post Anglo American Writes Down De Beers by $2.9 Billion Amid Market Challenges first appeared on iAfrica.

Politics

6 d. ago Nairobi Investigates British American Tobacco Over $28 Million Tax Discrepancy

Kenya’s tax authorities are investigating British American Tobacco Kenya (BAT Kenya) for a $28 million tax discrepancy. The investigation centers on alleged underreporting of taxable income, potentially leading to significant tax evasion charges. BAT Kenya, a subsidiary of the global tobacco company British American Tobacco, is a major player in Kenya’s tobacco industry. The outcome… Read More »Nairobi Investigates British American Tobacco Over $28 Million Tax Discrepancy The post Nairobi Investigates British American Tobacco Over $28 Million Tax Discrepancy first appeared on iAfrica.

Economics

7 d. ago Economists Challenge Proposed 2% VAT Hike, Urge Alternatives in SA Budget Debate

South Africa’s Finance Minister, Enoch Godongwana, has drawn criticism for proposing a 2% increase in Value Added Tax (VAT)—from 15% to 17%—as a way to bolster the country’s R60 billion budget surplus. According to economist Patrick Bond, this approach reflects a long-standing insensitivity from the National Treasury, which he says dates back to the apartheid… Read More »Economists Challenge Proposed 2% VAT Hike, Urge Alternatives in SA Budget Debate The post Economists Challenge Proposed 2% VAT Hike, Urge Alternatives in SA Budget Debate first appeared on iAfrica.

Politics

7 d. ago Ramaphosa Stands By Finance Minister As VAT Hike Draws Criticism

President Cyril Ramaphosa has come out in defense of Finance Minister Enoch Gondogwana amid ongoing criticism over a proposed two percentage-point hike in Value-Added Tax (VAT). Speaking on Thursday at the sidelines of the first G20 foreign ministers’ meeting, Ramaphosa emphasized that no finance minister would raise taxes if any viable alternatives existed. Gondogwana has… Read More »Ramaphosa Stands By Finance Minister As VAT Hike Draws Criticism The post Ramaphosa Stands By Finance Minister As VAT Hike Draws Criticism first appeared on iAfrica.

Politics

7 d. ago Netherlands Agrees to Return Over 100 Benin Bronzes in Landmark Repatriation

The Netherlands has announced that it will return 119 Benin Bronzes—stolen by British troops in 1897—to Nigeria, marking the largest-ever repatriation of these artifacts. These culturally significant sculptures, which ended up in Dutch museums like the Wereldmuseum as well as with private collectors, originate from the ancient Benin Kingdom in modern-day Edo state. Despite the… Read More »Netherlands Agrees to Return Over 100 Benin Bronzes in Landmark Repatriation The post Netherlands Agrees to Return Over 100 Benin Bronzes in Landmark Repatriation first appeared on iAfrica.

Politics

8 d. ago South Africa Postpones 2025 Budget Speech Amid Government Rift

South Africa’s 2025 Budget Speech, originally slated for 19 February, has been canceled indefinitely due to disagreements among parties in the Government of National Unity (GNU). At the heart of the conflict is a proposed two-percentage-point increase in Value-Added Tax (VAT), from 15% to 17%. According to reports, President Cyril Ramaphosa convened an emergency cabinet… Read More »South Africa Postpones 2025 Budget Speech Amid Government Rift The post South Africa Postpones 2025 Budget Speech Amid Government Rift first appeared on iAfrica.

Politics

9 d. ago Godongwana’s Budget Delayed as Unity Government Rejects VAT Hike

Finance Minister Enoch Godongwana’s budget presentation was pushed back to 12 March after his proposed two-percentage-point increase in Value-Added Tax (VAT) ran into fierce opposition from the ANC’s government of national unity (GNU) partners. The measure would have brought VAT to 17%—the first increase since 2018—surprising politicians, businesses, labor groups, and economists alike. The postponement… Read More »Godongwana’s Budget Delayed as Unity Government Rejects VAT Hike The post Godongwana’s Budget Delayed as Unity Government Rejects VAT Hike first appeared on iAfrica.

Politics

9 d. ago SARS to sell Royal AM Football Club to recover outstanding tax

The club's troubled history and poor league performance led to its sale to settle its debt to SARS.

Politics

1 week ago Budget expected to unveil critical tax, economic policy changes

South Africans have called on the Finance Minister to focus on various issues.

Economics

1 week ago Build One South Africa Urges GNU To Aim For 5% Growth, Cut Waste, And Avoid Tax Hikes

Build One South Africa (BOSA) is calling on the Government of National Unity (GNU) to prioritize “funding for 5% growth, cutting waste, and avoiding any tax increases” in its inaugural budget. BOSA maintains that South Africans should not be burdened further amid the country’s already high cost of living. Speaking in Parliament on Tuesday, BOSA… Read More »Build One South Africa Urges GNU To Aim For 5% Growth, Cut Waste, And Avoid Tax Hikes The post Build One South Africa Urges GNU To Aim For 5% Growth, Cut Waste, And Avoid Tax Hikes first appeared on iAfrica.

Politics

1 week ago E Cape man sentenced to five years for R1.6 million false RAF claim

RAF picked up discrepancies between documents submitted and the police report.

Politics

1 week ago DA plans to oppose possible tax increases ahead of Budget Speech

This after Godongwana suggested tax increases to boost revenue to cabinet ahead of his speech.

Politics

1 week ago Voices Shaping Africa’s Art Renaissance: Women Bridging Continent and Diaspora

Three influential women from the African art world discuss contemporary African art and its global impact. A Senegalese art critic, an African American photographer, and a Senegalese curator explore the evolving cultural narratives, the intersection of history and modernity, and the growing role of the African diaspora in shaping the continent’s artistic future. From the… Read More »Voices Shaping Africa’s Art Renaissance: Women Bridging Continent and Diaspora The post Voices Shaping Africa’s Art Renaissance: Women Bridging Continent and Diaspora first appeared on iAfrica.

Politics