South Africa - Annual Budget and Tax Update

Finance Isle of Man are proud sponsors of The Tax Faculty's upcoming webinar 'Annual Budget and Tax Update'.

Minister Godongwana will deliver his maiden Annual Budget Speech on 21 February 2024 this year.

The Annual Budget Speech remains one of the most anticipated events on the financial calendar. The Minister faces the many challenges brought about by electricity and infrastructure constraints, a sluggish economy and an election year. While some sectors of the economy, tourism for example, have almost returned to pre-COVID levels, the issues of a stagnant economy, lack of investor confidence, high unemployment, and an ever-shrinking tax base remain. All these factors make it extremely difficult to ‘balance the budget.’

There is much speculation around the fiscal and tax policy changes the Minister may propose to both stimulate the economy and assist persons living below the poverty line. As taxes have a critical impact on taxpayers' profits and take-home pay, these announcements will have an important impact on financial and business decisions.

The 2024 Annual Budget and Tax Update will unpack the tax proposals announced in the Budget Speech to enable attendees to understand the full impact of these changes. In the workshop, Diane Seccombe will explain the proposals in a practical and comprehensible manner so that attendees can understand the proposals and their impact on business and personal finances.

For more information and to sign up please visit: The Tax Faculty