Archive for April 2025
VAT RATE INCREASE
On 12 March 2025, the Finance Minister Enoch Godongwana announced in the 2025 Budget Speech that the standard Value-Added Tax (VAT) rate would rise from 15% to 15.5%, with effect from 1 May 2025, with a further increase to 16% planned for 1 April 2026. The increase in the VAT rate forms part of a…
Read MoreFair Competition and Freedom of Expression in the News Media
On 24 February 2025, South Africa’s Competition Commission released its provisional Media and Digital Platforms Market Inquiry (MDPMI) Report. The inquiry found that Google derives substantial value from South African digital news content, without compensating the publishers generating the content. The recommendations follow Media24’s December 2024 decision to cease printing several major titles like City…
Read MoreRIGHT TO EDUCATION
On Monday, 27January 2025, a group of parents protested outside Danie Malan Laerskool in Pretoria North demanding transformation and inclusivity at the school which allegedly excluded black learners. The parents’ contentions rest upon the fact that there are three Afrikaans classrooms, while there are only in English classroom. EFF member, Price Shabangu, who was present…
Read MoreUnderstanding the Differences Between Review, Assessment, and Audit in South African Legislation
In the context of South African law, particularly within corporate governance, financial management, and compliance, the terms “review,” “assessment,” and “audit” have distinct meanings and implications. Understanding these differences is essential for organizations to ensure compliance and effective management. 1. Review Definition: A review typically refers to a limited examination of financial statements or operations…
Read MoreRegulatory Authorities in South Africa and Their Primary Focus
In South Africa, regulatory authorities play a critical role in maintaining the integrity, stability, and transparency of various sectors. These bodies are established under specific legislation and are tasked with overseeing compliance, enforcing laws, and protecting the interests of consumers and the public. Below is a comprehensive overview of key regulatory authorities in South Africa…
Read MoreThe Importance of Record Keeping for Corporate Compliance and Risk Management in South Africa
In the complex landscape of corporate governance in South Africa, effective record keeping is a critical component for ensuring compliance with legal obligations and managing risks. Various South African laws and regulations mandate organizations to maintain accurate and comprehensive records, making diligent record keeping not only a best practice but a legal requirement. Legal Framework…
Read MoreRecent Changes to the Companies Act: Key Amendments for 2024
In 2024, significant amendments to South Africa’s Companies Act (Act 71 of 2008) were implemented, aimed at enhancing corporate governance, improving transparency, and aligning local legislation with international best practices. These changes are crucial for all companies operating within South Africa, impacting both public and private entities. Overview of Key Amendments Implications for Companies These…
Read MoreUnderstanding the Registration of Beneficial Ownership in South Africa
The registration of beneficial ownership is an important legal development in South Africa, aimed at enhancing transparency in corporate structures and combating financial crimes such as money laundering and tax evasion. This initiative aligns with global standards set by the Financial Action Task Force (FATF) and reflects South Africa’s commitment to improving corporate governance and…
Read MoreUnderstanding Corporate Protective Disclosure in South Africa
Corporate protective disclosure, often referred to as whistleblowing, is an essential mechanism for promoting transparency and accountability within organizations. In South Africa, the legal framework surrounding protective disclosure is primarily governed by the Protected Disclosures Act (PDA) of 2000. This Act aims to encourage employees to report misconduct or unlawful activities without fear of retaliation.…
Read MoreUnderstanding the Promotion of Access to Information Act (PAIA) in South Africa
The Promotion of Access to Information Act (PAIA), enacted in 2000, is a cornerstone of South Africa’s commitment to transparency and accountability in government and public administration. This legislation provides a framework for citizens to access information held by public and private bodies, reinforcing the principles enshrined in the Constitution. Objectives of PAIA PAIA aims…
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