Ntando Thukwana

2 weeks ago | bloomberg.com | thembile Cele |Ntando Thukwana

South Africa’s Democratic Alliance is deeply divided about staying in the country’s ruling coalition following a standoff over the budget. The DA, the second-largest party in the the so-called government of national unity after the African National Congress, voted against a key piece of budget legislation last week after failing to use an increase in value-added taxes as leverage to get backing for its policy proposals. The legislation passed anyway with support from smaller parties.

2 weeks ago | bloomberg.com | Ntando Thukwana

South Africa’s government said it would be ill considered and counterproductive to rush into imposing reciprocal tariffs on imports from the US after Washington hit it with punitive charges. “There are all sorts of knee-jerk reactions to the announcements made” about the tariffs, Parks Tau, South Africa’s trade minister, told reporters on Friday. “It’s a risky thing to do to simply decide that we’re now going to impose reciprocal tariffs. I think it is a race to the bottom.”

3 weeks ago | bloomberg.com | Ntando Thukwana

South Africa’s Trade Minister Parks Tau said he plans to visit the US, its second-largest trading partner, to discuss the tariffs imposed on the country by the Trump administration. “We are waiting for the president to confirm the date of our visit to the United States,” Tau told reporters at a conference in Johannesburg on Thursday, referring to Cyril Ramaphosa, the leader of the African nation. The visit was delayed to hear what tariffs would be unveiled on April 2, he said.

3 weeks ago | news.bloombergtax.com | Ntando Thukwana

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3 weeks ago | bloomberg.com | Ntando Thukwana

South Africa’s revenue service urges those involved in crypto asset transactions to register with the authority, as it seeks to rein in tax defaulters. “We’ve invited taxpayers, exchanges and other intermediaries to register, because now, if you don’t register, you’re breaking the law,” South African Revenue Service Commissioner Edward Kieswetter told Bloomberg in an interview on Tuesday.