The South African National Treasury says the two new bills, passed in response to the covid-19 pandemic, will help South African businesses better weather the covid-19 storm.
The two bills, the COVID-19 Tax Bill and the COVID-19 Tax Administration Bill, were approved by the National Assembly last week.
The bills, provide for the deferred payment of taxes, as well as a skills development levy payment holiday for businesses.
The Chief Director for Economic Tax Analysis, at National Treasury, Christopher Axelson, says the bills also allow for an increased tax-deductible amount, when donations are made to the National Solidarity Fund.
For full speech: https://t.co/7l7986Fbrq pic.twitter.com/GWRfmf0TOp
— National Treasury (@TreasuryRSA) August 25, 2020
Minister of Finance, @TitoMboweni in parliament today Debating the Disaster Management Tax Relief and Administration Bill. https://t.co/SrGPYZpVlV
— National Treasury (@TreasuryRSA) August 25, 2020
