SOUTH AFRICAN NATIONAL BUDGET SPEECH 2018

Our South African Tax Practice had the following predictions ahead of the South African National Budget Speech, which was delivered on Wednesday, 21 February 2018:

• Saving SARS: Why SARS is failing and what can be done to get it back on track
• Anticipated VAT shocks: another blow to an already bruised taxpayer
• Apprehension around National Health Insurance
• Increasing the income tax rate may reduce tax collections

Members of the team made the following observations after the speech:

• Budget 2018: Important Proposed Changes for Businesses
• Increase in the official interest rate
• National Health Insurance
• SA regresses to higher VAT rate
• VAT shocks: the good and the bad
• Budget 2018: New president, new process, new engaged and optimistic public