This applies to the following transactions:

• Submission of Request for Reasons
• Request for Remission (RFR)
• Notice of Objection, and Notice of Appeal

Prior to this enhancement, the Trust dispute process was a fully manual process, using the ADR1 and ADR2 forms (Alternative Dispute Resolution forms).

A request for suspension of payment currently remains a manual process and requires one of the following:

• Submission of uploading a formal request letter (requesting the suspension of payment) when lodging a dispute on eFiling, together with other supporting documentation
• Submission of a formal request letter at SARS a branch

Should you require professional assistance in this regard please do not hesitate to contact our offices.

The positive outlook is largely a result of improvements in the CPI data. Oil prices have also decreased close to $80 per barrel, similar to where they were at the beginning of the year, after briefly exceeding $90. Forecasts suggest oil prices will remain near their current levels. Globally, inflation outcomes in the United States have been softening, and the US Federal Reserve still have some room for adjustments this year. We may also see easing by other major central banks.

Nonetheless, the Committee remains concerned that inflation expectations are elevated, requiring that the MPC deliver on their target sooner rather than later to re-anchor expectations.

The exchange rate of the rand has been particularly volatile in recent times. After reaching a 10-month high against the dollar at R18.08 on 21 May, it has since returned to previous levels. Markets remain focused on the direction of domestic policy, a theme that has dominated many investor conversations over the past few months, and for which the MPC expects greater clarity once the new government has formed.

Economic activity for the first quarter was worse than expected, despite reduced electricity loadshedding. Second-quarter growth is expected to be better, and the MPC still forecast GDP growth of 1.2% this year. In addition to the recent improvements in power supply, measures that would improve economic conditions include reaching a prudent public debt level, improving the functioning of network industries, lowering administered price inflation, and keeping real wage growth in line with productivity gains.

Overall, MPC’s forecasts show a modest acceleration in growth over the next few years, alongside a gradual stabilisation of inflation at our target. Considering this outlook, the MPC decided to keep the repo rate unchanged at 8.25%. We will keep you informed on developments in this regard.

Manufacturing decreased by 1,4% contributing -0,2 of a percentage point to the negative GDP growth. The motor vehicles, parts and accessories and other transport equipment division and the basic iron and steel, non-ferrous metal products, metal products and machinery division made the largest negative contributions to the decrease in the first quarter.

Positively, the agriculture, forestry and fishing industry increased by 13,5%, contributing 0,3 of a percentage point. This was primarily due to increased economic activities reported for horticulture products.

In terms of expenditure on real GDP, this decreased by 0,2% in the first quarter of 2024, following an increase of 0,3% in the fourth quarter of 2023.

Household final consumption expenditure decreased by 0,3%, contributing -0,2 of a percentage point to the total negative growth. The main contributors were expenditures on clothing and footwear, transport, and the ‘other’ category. Final consumption expenditure by general government decreased by 0,3%, contributing -0,1 of a percentage point. This was mainly driven by decreases in purchases of goods and services and compensation of employees.

Total gross fixed capital formation decreased by 1,8%, contributing -0,3 of a percentage point. The main negative contributors to the decrease were machinery and other equipment, residential buildings, and construction works. There was also a R5,5 billion drawdown of inventories (seasonally adjusted and annualised value). Large decreases in three industries, namely manufacturing; mining and quarrying; and personal services, contributed to the inventory drawdown.

Net exports contributed positively to expenditure on GDP. Exports of goods and services decreased by 2,3%, largely influenced by decreased trade in pearls, precious and semi-precious stones and precious metals; vehicles and transport equipment excluding aircraft; chemical products; base metals and articles of base metals; and mineral products. However, imports of goods and services decreased more – by 5,1% – largely influenced by decreased trade in mineral products; vehicles and transport equipment excluding aircraft; and vegetable products.

We will keep you informed of development in this regard as new data is released.

Yet, what are the exact benefits that we could expect from BPA?

1. Increased Efficiency – All manual processes are tedious, boring, and prone to human error. With the use of automation, these processes will be completed faster than before as well as with highly reduced instances of error. This freed up time will allow employees to better focus on more value-add tasks.
2. Cost Savings – With a reduction in manual process, comes a reduction in the need for manual labour, which allows businesses to have lower operational expenses. A reduction in human error also means a reduction in costs incurred due to errors, helping ensure there are less unexpected costs.
3. Enhanced Accuracy and Consistency – Human error has plagued many processes across businesses, as a lot of processes rely on good and sound information or data. If the data being entered is not accurate, then the outcome will not be desirable either (garbage in, garbage out). Automating your processes relieves this issue, improving both the input and output of data.
4. Increased Workforce Morale – Contrary to popular belief, automation does not necessarily replace human-held jobs. Instead, automation empowers your workforce to complete undesirable tasks quickly and correctly, allowing them to make better decisions and complete the jobs they were hired to do. Focussing on what they were employed to do also increases their ultimate happiness that they experience working in your business.

These are just 4 benefits out of many that we have highlighted for you, but as you can see there are plenty of opportunities to improve your business through automation.

Now, all these benefits are useless unless you understand which processes you would like to automate and what the desired outcome should be. If you are wanting to pursue BPA, your first step would be to identify the processes you want to automate. If you are new to automation without the support of a tech team, start with the smaller processes and build your way up after you gain confidence. Next, you must identify the different stakeholders within the processes to better understand their needs. Understanding needs will help ensure that your automation does not miss the mark and actually solves certain business issues that employees are facing. Finally, do not force automation where it is not needed. Forced automation can be more damaging than beneficial at times, and will end up reversing every benefit we mentioned previously.

Sincerely,