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…
Fuel Price Data Fuel prices are likely to drop again at the end of February. This is according to the unaudited mid-month fuel price data released by the Central Energy Fund. International oil prices have been declining steeply since the start of February, and this factor has accounted for approximately half of the petrol price…
Hefty Hike in Fuel Levy With regards to a Hefty Hike in Fuel Levy, the Automobile Association (AA) has urged the government to be cautious in determining future hikes of several taxes including the fuel levy, and their impact on low-income families in the country. Finance minister Malusi Gigaba is set to deliver his Budget…
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…
Pump Your Own Fuel in SA Pump Your Own Fuel in SA: Cape Town – Since New Year’s, the people of Oregon can finally pump their own petrol. Would you want to do the same in South Africa? It’s the oddest thing about driving in another country. Not the absence of intolerance. Not the…
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…
Chevron SA CAPE TOWN – The South African Government has reached an agreement on public interest issues on the potential acquisition of control of Chevron SA by Chinese company Sinopec. The company commits to invest R6 billion in South Africa; move hailed as part of deeper and bolder economic inclusion measures – the transaction…
Cape Town – Fuel prices may bring welcome relief in January, independent economist Fanie Brink said on Monday. This comes after a significant appreciation of the exchange rate over the last two weeks on the general expectation that Cyril Ramaphosa will be elected the new president of the ANC at its 54th conference at Nasrec…
NEW YEAR JOHANNESBURG – Motorists could expect some petrol price relief at the petrol pumps in the new year, with the news that the price of petrol could drop by about 7,8 cents per litre while the diesel price could come down by around 7,1 cents per litre in January. That is according to the…
