Petrol Prices in 2018
Johannesburg – Motorists will be hit hard by the 2018/2019 budget proposals announced by Minister of Finance Malusi Gigaba on Wednesday, tax will affect not only fuel prices but also the cost of new vehicles. VAT – TAX New vehicle buyers will be assaulted on three fronts: VAT, ad valorem duties, and CO2 tax. The…
Analysts are unanimous in predicting that a hike in value-added tax (VAT), particularly on luxury goods, will be announced in the Budget this week. In his Medium-term Budget Policy Statement in October 2017, Finance Minister Malusi Gigaba said the government was facing a revenue shortfall of more than R50.8 billion. Sandy McGregor, a manager of the…
Falling Petrol Price Falling Petrol Price – The decision by the South African Reserve Bank on Thursday to keep the repo rate steady at 6.75% as well as the expected decrease in the price of petrol and diesel will give deeply indebted consumers a welcome break after the body-blows of last year’s string of downgrades and…
Carbon Tax In December, the National Treasury released a revised Carbon Tax Bill for public comment, giving the first indication of how the proposed tax could affect everyday South Africans. First published in 2010, there was relative quiet surrounding the tax until it was mentioned in the 2017 budget speech documents. The revised bill introduces a number of key…
Price of Petrol Johannesburg – South Africa’s hard-pressed motorists can look forward to a bit more light relief on the first Wednesday in February, with fuel prices set to drop again, says the Automobile Association. Commenting on mid-month fuel price data released by the Central Energy Fund, the AA attributed the continued positive balance shown…
