In a bid to attract private sector investment to lead a recovery in the economy reeling from the pandemic, the Treasury proposed a one percentage cut in the corporate tax rate.

In his budget speech on Wednesday, finance minister Tito Mboweni recommended that the tax rate on companies, many of which are trawling the coffers to make up for losses destroyed by the lockdown measures, be lowered from 28% to 27% from April 2022...

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