Flash Briefing: SA is 'dangerously overstretched - Tito; #Budget2021 snapshots; Rand holds firm; matric maths disgrace
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* SA needs to borrow more than R500bn a year and is 'dangerously overstretched', says finance minister Tito Mboweni.
* SA expects to record its largest tax shortfall on record by the end of the tax year – and a staggering R213bn less than its 2020 Budget expectations.
* To help pay for SA’s army of public servants, fuel levies and excise duties on alcohol and tobacco will increase.
* South Africa plans to inject R13bn into improving the capability of the South African Revenue Service to improve tax compliance.
* The sunset date for 12J venture capital company tax schemes will not be extended beyond June 30.
* The poor standard of school education in South Africa has been laid bare in matric results, with only 8% of the 580,000 pupils who sat mathematics achieving the required 60% for entrance to university studies in engineering, commerce and medicine. Learn more about your ad choices. Visit megaphone.fm/adchoices
* SA expects to record its largest tax shortfall on record by the end of the tax year – and a staggering R213bn less than its 2020 Budget expectations.
* To help pay for SA’s army of public servants, fuel levies and excise duties on alcohol and tobacco will increase.
* South Africa plans to inject R13bn into improving the capability of the South African Revenue Service to improve tax compliance.
* The sunset date for 12J venture capital company tax schemes will not be extended beyond June 30.
* The poor standard of school education in South Africa has been laid bare in matric results, with only 8% of the 580,000 pupils who sat mathematics achieving the required 60% for entrance to university studies in engineering, commerce and medicine. Learn more about your ad choices. Visit megaphone.fm/adchoices
