Here’s what is happening in and affecting South Africa today:
- The April VAT increase to 15% helped add R26 billion to this year’s tax haul, according to new figures released by National Treasury. R305.2 billion was collected by Sars from personal income tax in the nine months to November – and R100.6 billion came from corporate tax. VAT brought in R212.7 billion. [Business Day]
- Despite its best efforts to salvage its reputation, troubles auditing firm KPMG is still getting the cold shoulder from companies and institutions, with a new university report urging it to drop the group as auditor. The report said there was a breakdown in confidence in the group. [IOL]
- Traffic flow figures point to South Africans having much shorter holidays this year, as thousands of holidaymakers have started to pass through toll plazas, making their way back home already. Authorities have urged motorists to be safe on their return trips. [EWN]
- Activists are taking to Cape Town’s Clifton beaches today to protest after beachgoers were reportedly removed by private security this week. The activists claim the move was racially charged, and was an attempt by the wealthy residents to keep the beaches exclusive. [eNCA]
- South Africa’s rand gained on Thursday against a dollar weakened by lingering concerns about the trade wrangle between the US and China, while stocks were lower as positive sentiment after an overnight rally faded. On Friday the rand was at R14.44 to the dollar, R18.29 to the pound and R16.55 to the euro.