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Trade surplus falls to R8.9 billion

Data from the SA Revenue Services (Sars) yesterday showed that the country’s trade surplus decreased to R8.9billion in July from a downwardly revised R10.5bn surplus in June, as both imports and exports showed significant declines.

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SARS releases trade statistics for July 2016

The South African Revenue Service (SARS) today releases trade statistics for July 2016 recording a trade balance surplus of R5,22bn. The cumulative trade balance surplus (01 January to 31 July 2016) of R17,40bn is an improvement on the deficit for the comparable period in 2015 of R24,67bn. These statistics include trade data with Botswana, Lesotho, Namibia and Swaziland (BLNS).

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Rand loses hard won ground as Hawks circle Gordhan (again)

The Rand has dropped to the lowest level in three weeks in the hours since the Daily Maverick broke the news that the Hawks are once again setting their sights on arresting Pravin Gordhan and four other South African Revenue Services (SARS) officials linked to the alleged SARS “rogue unit.”  The five have been ordered to report at the Hawks in Pretoria at 10am on Thursday for warning statements. This issue has been simmering since Gordhan was reinstated as Minister of Finance in December last year, after the President fired then Finance Minister Nhlanhla Nene, a move which derailed the SA economy for at least six months and has cost the country billions.

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SARS now using private debt-collector companies to collect taxes

Strange as it may seem, some people have been receiving phone calls from private debt collecting companies urging them to pay their taxes.  It seems like a hoax, until the person on the other side of the line mentions your tax number, which particular tax returns are due, and even how much tax is owed to the South African Revenue Service (SARS).

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Red Tape Reduction Unit saves city export deal

An intervention by the Western Cape’s Red Tape Reduction Unit has saved a city firm’s lucrative export deal.  
Alan Winde, Minister of Economic Opportunities, yesterday (28 June 2016) visited Southern Spars, a Montague Gardens-based masts, booms and rigging firm.
Minister Winde said the company was assisted by the Red Tape Reduction Unit in April to obtain a customs release for the shipment of a yacht mast to Singapore.
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