VAT increase is elephant in the room

Issued by FTI Consulting – Strategic Communications Division on behalf of Grant Thornton South Africa Ongoing strike action, now spread way beyond the mining industry, will impact corporate profitability in South Africa. Beyond unemployment, this will reduce corporate tax collections, adding to South Africa’s budget deficit at a time of slowed global growth and recession [...]

South Africa’s medical scheme industry faces challenging times

Issued by PWC South Africa’s medical schemes believe that the provision of healthcare in the country is deteriorating and that the introduction of the National Health Insurance (NHI) system will not necessarily resolve the current state of health services, according to the results of a survey conducted by Professional Services Firm PwC. Tom Winterboer, Financial [...]

Comments from Grant Thornton following the Budget Speech

Overall “Trusts continue to be hammered in respect of Capital Gains Tax which does not bode well for wealth creation.” – David Nathan, senior partner Grant Thornton “We were disappointed that dividend tax has effectively been increased by 50% (from 10% to 15%). STC used to be payable by companies at 10% of the dividend [...]

KPMG: Funding the NHI – Income tax vs. VAT vs. sin taxes

Lullu Krugel, Associate Director and Senior Economist at KPMG After the South African Government released its long expected Policy Paper on National Health Insurance (Policy Paper) (NHI) funding on 11 August 2011, quite a few questions remained unanswered. For that reason, market commentators are anticipating more clarity from the National Budget Speech, in particular regarding [...]

Protected: Decent healthcare for all is desirable, but who’ll pay ― and how much?

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The National Health Insurance System and You

Issued by Watts Communication on behalf of Softline VIP The National Health Insurance (NHI) System that has been proposed by the South African Government is set to be implemented in 2013 and will span a 12 year implementation period, says Rob Cooper, a Payroll tax expert at Softline VIP, part of the Sage Group plc. [...]

Reassurances On Funding For South African Health Scheme

by Lorys Charalambous, Tax-News.com, Cyprus The Deputy Director of General Public Finance in the National Treasury, Andrew Donaldson, has said that a tax to fund the South African government’s national health insurance (NHI) scheme will not be introduced in the short-term. Last month, the government announced the outline of broad policy proposals for the implementation [...]

NHI could be a tax squeeze

by Laura du Preez, www.persfin.co.za The small size of the tax base is the most difficult issue that will have to be addressed in finding a way to fund National Health Insurance (NHI) by way of a compulsory contribution, an actuarial science professor warns. A large proportion of the country’s taxpayers is concentrated in the [...]

SOUTH AFRICA: Feedback on the NHI and Treasury workshop

Tana Russon, Senior Associate, Bendels Consulting Firstly, I am sure many of you are aware and have read press releases over the weekend pertaining particularly to the National Health Insurance or NHI as it is referred to. To put all minds at ease, the NHI will not affect any of you in the short term [...]

NHI will rely on income tax to succeed

Slindile Khanyile BusinessReport The National Health Insurance (NHI) is to take a bite off both employee income and VAT for its financial sustenance as the government utilises the SA Revenue Services (Sars) as a collection vehicle and model. “Our vision is that the NHI will be as efficient as Sars, caring, delivering quality health care [...]