JOHANNESBURG – Finance Minister Tito Mboweni has provided more details on tax measures following President Cyril Ramaphosa’s address on Tuesday evening.
Since the country went into lockdown, many people and businesses have lost incomes and revenue.
The new measures include a skills development levy from 1 May that will assist businesses with cash flow.
Other measures are an increase in employment tax incentive, as well as adjusting pay-as-you-earn for donations which means donations can be factored into an employer’s monthly salary of up to 5 percent.
Treasury says that these measures are put in place to help fill in the gaps that the coronavirus outbreak has had on the economy.
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