Instead, the National Treasury, on March 31, published a proposed Tax Amendment Bill that does the exact opposite. The translation of the President’s stated policy into the Tax Amendment Bill has significantly undone any optimism that was felt by the business community following the tax relief. Very few tax incentives seem deemed fit to survive this Bill. Even the much-lauded Infrastructure Bonds interest did not survive their main benefit — tax relief on interest. Parliament ought to to reject any changes beyond the President’s proposed tax relief measures.

Source: Daily Nation April 13, 2020 20:48 UTC