APRIL 2022 – MALAWI TAX CHANGES REGARDING THE 2022/2023 TAX YEAR It is important that employers note the following: Changes to the Malawi tax tables and tax year Following the Budget Speech delivered on 18 February 2022 by the Minister of Finance and Economic Affairs, the Taxation (Amendment) Act, 2022 was published on 31 March...
FEBRUARY 2021 – SOUTH AFRICA 2021/2022 BUDGET SPEECH It is important that employers note the following:South Africa 2021/2022 Budget Speech and important changes affecting payroll The Minister of Finance, Tito Mboweni, delivered the Budget Speech for the fiscal year 2021/2022 on Wednesday, 24 February 2021. Highlights of the Budget Speech summarised: · Budget deficit has...
MARCH 2020 – LESOTHO INCOME TAX CHANGES It is important that employers note the following: Proposed tax changes announced in the 2020/2021 Budget Speech During the Budget Speech delivered by the Minister of Finance, Honourable Moeketsi Majoro, on 26 February 2020, the following tax changes were proposed: The tax credit of M800 per month be...
FEBRUARY 2020 – GHANA CHANGES TO TAX RATES It is important that employers note the following: New tax rates, effective 1 January 2020 Following the 2020 Budget speech delivered in November 2019, the proposed personal income tax bands for resident individuals have been revised by the Income Tax (Amendment) Act, 2019 (Act 1007). The personal...
FEBRUARY 2020 – SOUTH AFRICA 2020/2021 BUDGET SPEECH It is important that employers note the following: South Africa 2020/2021 Budget Speech and important changes affecting payroll The Minister of Finance, Tito Mboweni, delivered the Budget Speech for the fiscal year 2020/2021 on 26 February 2020. Highlights of the Budget Speech summarised: A consolidated budget deficit...
BOTSWANA BUDGET SPEECH HIGHLIGHTS The Minister of Finance and Economic Development, Hon. Kenneth Matambo, presented the 2019 Budget Speech to Parliament in February 2019. The 2019/2020 budget proposals emphasize the need for Botswana to consolidate development gains for further economic development. Key highlights: Growth rates forecast are 4.5%, 4.2% and 4.8% in 2018, 2019 and...
TAX RATES remains unchanged (Tax Year Ending 29 February 2020) Individuals and Special Trusts Tax Rebates Tax Thresholds Retirement fund lump sum withdrawal benefits (remains unchanged) Retirement fund lump sum benefits or severance benefits (remains unchanged) Subsistence Allowances and Advances Where the employee is obliged to spend at least one night away from his or...
South Africa 2019/2020 Budget Speech and important changes affecting payroll The Minister of Finance, Tito Mboweni, has delivered the Budget Speech for the fiscal year 2019/2020 on 20 February 2019. Highlights of the Budget Speech summarized: The consolidated budget deficit is projected to narrow from 4.5% of GDP in 2019/20 to 4% in 2021/22 Gross...
