Budget promises don’t always translate into reality
Promises of job creation, fighting poverty, unemployment and government improving its service delivery mechanisms took centre stage in Finance Minister Pravin Gordhan’s Budget speech.
Tax is now an imperative for the Boardroom
KPMG unpacks the Tax changes in the Budget Speech and highlights the complex and challenging environment in which corporates need to manage their taxation affairs going forward.
Tax: 2014 Budget Summary
While we did not anticipate major Tax changes in the current year, the complexity and challenges of the existing Tax environment means that it is time for Tax to be a board room level topic again. KPMG gives a summary of the most notable tax proposals.
How will BEPS affect the 2014 Budget?
It is widely expected that some changes to combat so-called base erosion and profit shifting (Beps) will be made to the South African tax system in Budget 2014, according to Barry Ger of KPMG.
Little growth expected from budget
Minister Pravin Gordhan’s Budget speech will likely focus on spending, says KPMG’s Cuma Limekaya
KPMG: 2014 Tax Budget
The big question is: What rabbit is Minister Gordhan going to pull out of his hat this year to present a Budget that demonstrates that the funds will be available to meet the promises that government is, and will be, making to secure its position in the election? Deborah Tickle, International and Corporate Director at KPMG South Africa, shares her opinion.
Fight graft by taking leaf from tax books of Ancient Greeks
The tax debate, internationally and in South Africa, is progressively focusing on closing perceived tax loopholes (in order to boost collections) and increasing self-assessment through vigorous auditing by the tax authorities, according to Roula Hadjipaschalis, KPMG tax director.
Gordhan should cut tax to grow economy
The South African government should reduce tax rates to grow the economy and increase tax collections, according to Yasmeen Suliman, tax director at KPMG.
South Africa will not reach lower tax target, analysts say
The reduced tax revenue target of R895bn for the fiscal year ending March 30 will not be achieved given the expected drop in tax revenue, tax commentators say, according to Deborah Tickle, tax director at KPMG.
Reduce tax rates to grow the economy and increase tax collections
Tax collections are also under pressure; a depressed economy means lower tax collections. With a ballooning government deficit, the Treasury is under pressure to collect more revenue to fund expenditure. So what possible drastic measures could be taken? How about cutting tax rates to increase economic growth and tax collections? Yasmeen Suliman, tax director at KPMG, outlines some drastic measures.
The effect of corruption on tax morality
The collection of taxes is important but addresses only one part of the equation. What is not being addressed effectively is the public perception of rampant corruption and misuse of public funds which often runs into the billions. Roula Hadjipaschalis, tax director at KPMG, highlights some tips from the ancient Greeks.
Will the 2014 budget propose changes for the taxation of share incentive scheme benefits?
The taxation of share incentive scheme benefits has been the subject of a whopping eighteen binding rulings published on the Sars website. It will be no surprise if there is more detail regarding the proposals to change the taxation of share schemes in the 2014 budget.
Drastic measures to save a desperate situation
Reduce tax rates to grow the economy and increase tax collections, says Yasmeen Suliman, director corporate tax at KPMG, who believes that a move like this could be the legacy that Pravin Gordhan leaves behind in his 2014 budget speech.