Daily Tax Report ®

South Africa Employees’ Tax Deferrals Gave 750m Rand in Relief

July 3, 2020, 8:10 AM

Pay-as-you-earn tax deferrals provided to more than 9,000 companies in April and May, Edgar Sishi, acting head of National Treasury’s budget office, tells lawmakers, citing South African Revenue Service preliminary data to June 25.

  • Skills development levy exemption provided relief of 1.6 billion rand
  • Excise and fuel levy deferrals amounted to 7.5 billion rand
  • Large portion of tax relief yet to be reported because employment tax incentive estimates haven’t yet been recorded and majority of provisional tax relief would take place when filing occurs at end of June, Treasury presentation shows
  • NOTE: April 23, South African Treasury Publishes Details of 70b Rand Tax Relief

To contact the reporter on this story:
Prinesha Naidoo in Johannesburg at pnaidoo7@bloomberg.net

To contact the editors responsible for this story:
Rene Vollgraaff at rvollgraaff@bloomberg.net

Renee Bonorchis

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