Photo credit: South Africa says it has no extra money available for the next three years Photo source: businesstech
There are no additional resources available for government departments in the next three years as said by the South Africa’s National Treasury. The Treasury said that they will raise an extra R40 billion ($2.4 billion) in revenue in the budget presented in June over the next four years. The document showed this week shows that will be made up by R5 billion in 2021-22, R10 billion in 2022-23 and in 2023-24 and R15 billion in 2024-25.
According to the document presented by Edgar Sishi, the acting head of the budget office, to the National Economic Development and Labour Council this week, in February, additional tax measures will be announced and the collections in revenue service will help and research and analysis is being done on wealth taxes.
Data source: Businesstech
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