Dale Cridlan

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South Africa’s National Budget Speech 2023: Navigating an uneven economic recovery

The Minister of Finance, Mr Enoch Godongwana presented his National Budget Speech to the Members of the National Assembly this afternoon.  The National Budget Review notes that South Africa is prioritising stable and clear policies so as to promote economic growth in the midst of an uncertain economic outlook. GDP is expected to grow by … Continue reading

Doing good doesn’t always entitle an NPO to tax benefits

Tax exempt status may be awarded to a non-profit organisation (NPO) that solely or primarily undertakes public benefit activities with a philanthropic or altruistic intent. An NPO that has been granted tax exempt status (commonly referred to as a public benefit organisation or PBO) is generally exempt from income tax. Certain approved PBOs may also … Continue reading

National Treasury again commits to the ‘modernised system’ of exchange control regulation in 2022 Budget Speech

This blog was co-authored by: Kristin January, Candidate Attorney On Wednesday 23 February 2022, the Minister of Finance presented his inaugural Budget Speech.  The National Treasury confirmed its commitment to transformation of exchange control regulations with several new proposals: Individuals are permitted to export dual listed domestic securities to a foreign recognised exchange, subject to … Continue reading

Supplementary budget 2020

South Africa’s Finance Minister Tito Mboweni delivered a supplementary budget on Wednesday 24 June 2020, highlighting that business confidence will remain near historic lows, with investment and employment remaining constrained. This emergency budget comes only four months after the National Budget which has been left defunct in the wake of COVID-19 and a three-month lockdown … Continue reading

How to establish a business enterprise in South Africa: Ten things to know

01 I Methods of incorporation A business presence can be established in South Africa, one can either incorporate a South African entity or incorporate a foreign offshore entity, as a so called ‘branch’ or ‘external company’. 02 I Applicable legislation Both forms of business enterprise are regulated by the Companies Act 2008. However, in the … Continue reading

South Africa 2019 Medium-Term Budget Policy Statement

The 2019 Medium-Term Budget Policy Statement (MTBPS) was recently delivered by Finance Minister Tito Mboweni and recognises that South Africa’s economic growth has been slowing alongside productivity and competitiveness. South Africa’s debt-to-GDP ratio is among the highest of its peer countries, with only Argentina, Croatia, Ukraine and Zambia worse off. It is projected that the … Continue reading