South Africa

2014 Tax Budget: Tax in the Boardroom 

KPMG’s Tax experts analyse the key changes stemming from the 2014 Budget Speech and what this means for South African companies.


Irrespective of the changes that may stem the Budget Speech, the current tax environment is complex and challenging and should increasingly be a topic for discussion and attention in the boardrooms of every corporate in South Africa.

Our experts share some of the megatrends that are causing these challenges, globally and locally.


We provide insights into what should be on the Board’s agenda, to ensure corporates are aware of the tax risks that they could be facing, ways to identify the risks, and actions and solutions that need to be taken.



2014/5 Tax Guide

Download the 2014/5 Tax Guide


Our comprehensive Tax Guide covers more than just the changes in the Budget, but aims to give you key insights into the various areas of taxation, and is a publication you can use throughout the year.


KPMG Budget Day insights and opinions

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. 

Missed any broadcasts?

CNBC Africa: Ben-Schoeman Geldenhuys, KPMG corporate tax director, joins in the discussion on how South Africa's 2014 budget affects the tax payer


RSG: Ben-Schoeman Geldenhuys, KPMG corporate tax director, discusses the mining and company tax prospects in the national budget. 


SABC News (channel 404 on DSTV): Roy Naude, Director, International Tax at KPMG, discusses how the tax budget will impact the ordinary South African.


Classic FM: Ferdie Schneider, tax director at KPMG, shares great insight into the VAT system and how the system in South Africa differs to the rest of the world, in particularly in China.

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