2023 Special Edition Budget Speech Alert
At a glance
- The Budget was anticipated to provide incentives or initiatives to alleviate the negative effects of electricity blackouts in South Africa and stabilize the national grid.
- Proposed amendments include clarifying the application of Section 23M of the Income Tax Act, addressing tax consequences of debt forgiveness, and enabling deferment of duties with specified conditions. SARS has shown progress in customs compliance efforts, including seizures and convictions.
Download the PDF to read our experts' views on today's Budget Speech, compiled by the CDH Tax & Exchange Control practice.
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