Finance

 

Sars’ brand diminished by unskilled staff

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For every step in the right direction, Sars manages to tumble down two. The Tax Ombud is slowly gaining ground in assisting taxpayers in resolving their tax differences with Sars. Unfortunately, these “tax differences” are frequently of Sars’ making, and as Sars slips further behind in the revenue target, so can we expect an exponential..
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Banks go on the offensive to parry political attacks

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South Africa’s banks have gone on the offensive after being criticised by some politicians over their lending practices and records in addressing racial inequality. Attacks on the lenders have been led by Jacob Zuma, who’s accused them of monopolising the financial services industry, and questioned whether they colluded when closing accounts belonging to members of..
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How Brian Molefe Almost Walked Away From Eskom With R111,000 A Month Until He Dies

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Presentations made to parliament regarding the R30 million retirement package Eskom wanted to pay its former CEO, Brian Molefe, has revealed exactly how the power utility worked out how much he should get paid. According to Sibusiso Luthuli, CEO of the Eskom Provident and Pension Fund, the fund was asked to calculate how much Molefe..
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Former Eskom CEO approved R66-million deal that benefited his sister – No end to corruption

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Former Eskom acting CEO Matshela Koko has been found to have “personally signed off on a deviation order that allowed his stepdaughter’s company Impulse International, to score a R66m deal from Eskom without going out to tender.” Business Day reported on Thursday that they had obtained a copy of a confidential “sole source justification” memo…
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Zuma Judgment – All Eyes Now On Shaun ‘The Sheep’ Abrahams And Cyril Ramaphosa

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While our Constitution is considered one of the most progressive in the world, it has glaring flaws that have allowed it to be grossly abused by a President whose actions now threaten his entire party. Or perhaps put more accurately, they threaten the moral legitimacy and fibre of an organization that once prided itself on..
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Dudu Myeni finaly fired as SAA chair

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Dudu Myeni has been removed from the board of South African Airways in what could be a range of changes made to the leadership of the embattled airline. The Mail & Guardian understands that Myeni will be replaced by businessperson JB Magwaza who has been appointed as the new board chairperson. It appears that members..
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UK to probe European banks linked to SA state capture

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A complaint about European banks who may be involved in the illicit financial flows of state capture in South Africa has been forwarded to two law enforcement agencies in the United Kingdom, leaving these banks open to investigation and prosecution. The Chancellor of the Exchequer Philip Hammond forwarded a message about banks based in the..
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Road users will pay steep licence fee from next year

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The Justice Project South Africa has called on Transport Minister Joe Maswanganyi to justify, or at the very least explain, the 71 percent increase in eNaTIS vehicle licence fees for 2018. Earlier in October Maswangani announced that as from 1 February 2018, an amount of R72 (an increase of R30) would be added to the..
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Foster grants system is about to collapse – Bathabile Dlamini’s next national embarrassment?

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The department of social development may find itself in a similar situation with foster care grants as it did earlier in 2017 when it missed the Constitutional Court’s deadline to take over the payment of social grants. According to GroundUp, thousands of foster care placement orders will expire on December 31, which means that the..
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