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South Africa

South African arms smuggler convicted by Philippines Courts

MANILA: South African national has convicted by the Court of Tax Appeals to attempted to smuggled P5.2 million worth of rifles and P400,000 worth of pistols from Indonesia, here the other day. The court’s third division found Capt. Lawrence John Burne guilty beyond reasonable doubt for violating the Tariff and Customs Code of the Philippines. In a 22-page ruling dated ... Read More »

South Africa to unlock potential of its blue economy through Norway’s maritime experience

OSLO: South Africa is to adopt the Norway’s extensive maritime experience to help it unlock the potential of its own “blue economy”. In this way Norway not only explore the economy of Africa but also help it in train its manpower for future benefits exploration. Deputy International Relations and Cooperation Minister Luwellyn Landers and his Norwegian counterpart Hans Brattskar have ... Read More »

South Africa proposes tax on electrical goods

CAPE TOWN: The Department of Environmental Affairs has proposed an environmental levy or tax in South Africa on all goods which have an electrical plug. Government has proposed a levy or tax on all products that have an electrical plug, which will lead to price increases on electrical goods. This levy, said Department of Environmental Affairs spokesman Albi Modise, is ... Read More »

South Africa exempts foreign pensions from tax

CAPE TOWN: The South African Revenue Service (SARS) issued Binding General Ruling 25, which aims to resolve the disputes that have arisen between SARS and some taxpayers whose pensions are partly or entirely the result of employment outside the country. Marika Muller, the deputy spokesperson for SARS, says existing disputes over pensions from foreign employment will be dealt with according ... Read More »

South Africa issues revised version of tax exemption guide

CAPE TOWN: The South African Revenue Service (SARS) has issued a revised version of its tax exemption guide, which is intended to assist non-profit organizations (NPOs) that qualify for approval as public benefit organizations (PBOs) in South Africa. The guide covers the exemptions from taxes that may affect PBOs, including income tax, donations tax, estate duty, transfer duty, dividends tax, ... Read More »

Negative rating: South Africa to steer economic growth trajectory

CAPE TOWN: After the country’s negative rating by two global rating agencies – Standard and Poor’s (S&P) and Fitch, the South African government says it recognizes the need to steer the country’s economic growth trajectory onto a more robust course. The rating agencies affirmed South Africa’s long- and short-term foreign currency sovereign credit ratings at BBB- / A-3. The agency ... Read More »

South Africa police seize 50kg gold

JOHANNESBURG: Police arrested six men at the Pumulani Toll Plaza on the N1 in Pretoria for gold smuggling and found 50kg gold worth worth RS23 million in vehicles. Police said four suspects were employed by a cash-in-transit company. Hawks spokesperson Paul Ramaloko says the suspects face charges of dealing and smuggling in precious metals. “We believe that these men are ... Read More »

South African company Eskom fails to provide electricity on time

Johannesburg: The power system of country will remain tight until the Medupi and Kusile power stations start producing power, in over a year, Eskom says. “Power supply will ease once Kusile and Medupi are online and producing power… and that will take between 12 and 18 months,” chief executive Tshediso Matona told reporters in Johannesburg. Medupi, in Limpopo, was expected ... Read More »