According to VAT Modernisation South Africa, the country is losing between 1-point-2 billion US dollars and 2-point-7 billion annually due to Value Added Tax compliance gaps, directly affecting fiscal stability and the ability to fund essential services such as healthcare and education.

As the South African Revenue Service works towards a fully digital VAT system by 2028, VAT Modernisation stresses that the need for businesses to modernize their VAT reporting systems has never been more urgent.

Thami Ngubeni spoke to CEO of VAT Modernisation Shannon Friedman.

According to VAT Modernisation South Africa, the country is losing between 1-point-2 billion US dollars and 2-point-7 billion annually due to Value Added Tax compliance gaps, directly affecting fiscal stability and the ability to fund essential services such as healthcare and education.
As the South African Revenue Service works towards a fully digital VAT system by 2028, VAT Modernisation stresses that the need for businesses to modernize their VAT reporting systems has never been more urgent.
Thami Ngubeni spoke to CEO of VAT Modernisation Shannon Friedman.

In-depth financial issues, profiling of African businesses doing well internationally, stocks & market updates.

In-depth financial issues, profiling of African businesses doing well internationally, stocks &amp; market updates.

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Africa in Business

South Africa loses about 2.7 billion dollars due to Value Added Tax compliance gaps

Sakeliga and the National Employers’ Association of South Africa (NEASA) have filed an application in the Constitutional Court for leave to appeal the High Court’s refusal to urgently interdict South Africa’s newly implemented Employment Equity quotas.

 

Sakeliga and NEASA argue that if the Constitutional Court refuses leave to appeal, businesses could face immediate enforcement action by the Department of Employment and Labour and the International Trade Administration Commission (ITAC), which already requires Employment Equity compliance certificates for trade‑ and tariff‑related processes. For more on this, we are joined on the line by Jaco Swart, National Manager at the National Employers’ Association of South Africa (NEASA).

Sakeliga and the National Employers&rsquo; Association of South Africa (NEASA) have filed an application in the Constitutional Court for leave to appeal the High Court&rsquo;s refusal to urgently interdict South Africa&rsquo;s newly implemented Employment Equity quotas.
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Sakeliga and NEASA argue that if the Constitutional Court refuses leave to appeal, businesses could face immediate enforcement action by the Department of Employment and Labour and the International Trade Administration Commission (ITAC), which already requires Employment Equity compliance certificates for trade‑ and tariff‑related processes. For more on this, we are joined on the line by Jaco Swart, National Manager at the National Employers&rsquo; Association of South Africa (NEASA).

Sakeliga and NEASA take the fight against newly implemented Employment Equity quotas to the Constitutional Court

South Africa’s national carrier, South African Airways, is set for another leadership transition following the resignation of its Group Chief Executive Officer, Professor John Lamola. His departure comes at a critical time for the airline, which has been rebuilding after business rescue and working to regain its footing in a highly competitive global aviation market.

For more on this, we now speak to aviation analyst Dr Guy Leitch.

South Africa&rsquo;s national carrier, South African Airways, is set for another leadership transition following the resignation of its Group Chief Executive Officer, Professor John Lamola. His departure comes at a critical time for the airline, which has been rebuilding after business rescue and working to regain its footing in a highly competitive global aviation market.
For more on this, we now speak to aviation analyst Dr Guy Leitch.

The board of South African Airways announces the resignation of its CEO, Professor John Lamola

Ghana is set to remove certain fuel taxes and charges imposed along the supply chain by distributors and retailers, in an effort to ease pressure on consumers facing rising pump prices triggered by the Middle East conflict. The measures are expected to come into effect within a week, although the specific levies to be scrapped will only be confirmed after consultations with stakeholders in the coming days.

The West African country, which imports about 70% of its refined fuel, is among several African nations experiencing sharp fuel‑price increases after the US‑Israeli war with Iran pushed global oil prices higher. 

For a reaction to these measures, we are joined on the line by Geoffrey Kabutey Ocansey, Executive Director for Revenue Mobilisation Africa.

Ghana is set to remove certain fuel taxes and charges imposed along the supply chain by distributors and retailers, in an effort to ease pressure on consumers facing rising pump prices triggered by the Middle East conflict. The measures are expected to come into effect within a week, although the specific levies to be scrapped will only be confirmed after consultations with stakeholders in the coming days.
The West African country, which imports about 70% of its refined fuel, is among several African nations experiencing sharp fuel‑price increases after the US‑Israeli war with Iran pushed global oil prices higher.&nbsp;
For a reaction to these measures, we are joined on the line by Geoffrey Kabutey Ocansey, Executive Director for Revenue Mobilisation Africa.

South Africa loses about 2.7 billion dollars due to Value Added Tax compliance gaps

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