Extended tax relief to cost fiscus R26bn in forgone revenue
The measures, due to Covid-19, are split between those providing additional liquidity to businesses and those resulting in lower tax revenue
23 April 2020 - 11:32
New and expanded tax measures to help businesses cope with the effects of the coronavirus lockdown — including expanded employee tax incentives and payment delays on upcoming carbon taxes — will cost the fiscus about R26bn in forgone revenue.
The measures are split between steps that provide additional liquidity to businesses — effectively acting as interest-free free loans that will ultimately be paid back to the government — and measures that will result in lower tax revenue, the Treasury said in a statement on Wednesday...
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