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Cecil Kilpin | June 2022 Newsletter

By |2022-06-10T11:47:27+02:00Jun 9th, 2022|Business, Environmental, Finance + Economics, Goverment, Newsletter, Tax|

Environmental, Social and Governance (ESG) versus Friedman Doctrine and the SME The Friedman doctrine is a theory advanced by economist Milton Friedman which holds that the social responsibility of a business is to increase its profits. This approach views shareholders as the economic engine of the organization and the only group to which the firm is socially responsible. decide such matters for them. The Friedman doctrine has been very influential in the corporate world. The World Economic Forum, on the other hand is a staunch supporter of ESG which in its simplest form promotes that a corporation exists for benefit of all stakeholders. Stakeholders is a broad term, but from a corporation’s perspective this would include inter alia [...]

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Cecil Kilpin | May 2022 Newsletter

By |2022-05-09T12:07:34+02:00May 9th, 2022|Business, Environmental, Finance + Economics, Goverment, Newsletter, Tax|

StatsSA Releases Latest Producer Price Inflation (PPI) Figures The following producer price inflation (PPI) statistics were published on 28 April by StatsSA, reflecting the inflationary pressures being felt throughout the world. Final Manufactured Goods Annual producer price inflation increased to 11,9% in March 2022, from 10,5% in February 2022. The main contributors were: Coke, petroleum, chemical, rubber and plastic products increased by 26,8% year-on-year and contributed 6,4 percentage points Food products, beverages and tobacco products increased by 7,6% year-on-year and contributed 2,0 percentage points Metals, machinery, equipment and computing equipment increased by 13,0% year-on-year and contributed 1,9 percentage points The month-on-month PPI increased by 2,5%. The main contributors were: Coke, petroleum, chemical, rubber and plastic products, which increased by 6,2% month-on-month and contributed [...]

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Cecil Kilpin | February 2022 Newsletter

By |2022-02-03T10:01:32+02:00Feb 3rd, 2022|Business, Environmental, Finance + Economics, Newsletter, Tax|

2022 Budget Tips - Make Your Voice Count The Minister of Finance, Mr Enoch Godongwana, will deliver his inaugural National Budget Speech on 23 February 2022. As usual, the budget allocation always aims to strike a balance between competing national spending priorities. It is in this context that Minister Godongwana invites South Africans to share their suggestions on the Budget – what should the government be spending the money on, how to address a large budget deficit, new sources of tax revenues, and other Budget-relevant information. Minister Godongwana looks forward to your contributions. NB: Contributions can be sent through - National Treasury website here: https://bit.ly/3ruszsi Twitter: @TreasuryRSA Facebook: National Treasury RSA with the hashtag #TipsForMinFin and #Budget2022 [...]

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Cecil Kilpin | December 2019 Newsletter

By |2022-01-20T13:29:06+02:00Dec 18th, 2019|Business, Finance + Economics, Goverment, Newsletter, Tax|

Annual Inflation Continues to Fall A recent report from STATSA states that annual inflation eased further in November, falling to 3,6% from October’s 3,7%. This is the third successive month of disinflation, which means that the pace of price increases is slowing down. November’s reading is the lowest since December 2010 when the rate was 3,5%. The highest rate recorded since December 2010 was 7,0% in February 2016. Since the end of 2016 inflation has been on a downward trend and has remained firmly within the South African Reserve Bank’s 3%–6% monetary policy range since April 2017.   Housing and utilities, miscellaneous goods and services, and food and non-alcoholic beverages were the biggest contributors to the 3,6% increase in November 2019. Food and non-alcoholic beverages’ [...]

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Cecil Kilpin | September 2019 Newsletter

By |2022-01-20T13:52:21+02:00Sep 18th, 2019|Business, Finance + Economics, Goverment, Newsletter|

Economic Policy Paper for Public Comment The Minister of Finance, Mr Tito Mboweni, is calling on members of the public to make comments on a paper titled: “Economic transformation, inclusive growth, and competitiveness: Towards an Economic Strategy for South Africa”. The paper, prepared by the National Treasury, is an attempt to translate the broad outcomes of inclusive growth, economic transformation, and competitiveness into specific programmes and draw on a range of domestic and international literature to support these policy priorities.   This paper considers the contribution of specific growth reforms that can achieve the outcomes of economic transformation, inclusive growth, and competitiveness. The paper draws on the National Development Plan to outline six themes and the contribution of growth reforms within each theme that prioritize economic transformation, inclusive growth, and competitiveness. The themes include: [...]

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Cecil Kilpin | December 2018 Newsletter

By |2022-01-20T14:25:24+02:00Dec 7th, 2018|Finance + Economics, Goverment, Newsletter, Tax|

Economy Grows By 2.2% Good news to end 2018 as the South African economy grew by 2,2% quarter-on- in the third quarter of 2018, bringing to an end the country’s second recession since 1994. Higher contributions to growth in a number of industries – most notably in manufacturing, transport as well as finance and business services – were enough to lift economic growth back into positive territory. The rise in economic activity in the third quarter follows two consecutive quarters of negative growth, which is a widely recognised indicator of recession. The economy slumped by 2,6% in the first quarter of 2018 and a further 0,4% in the second quarter.   Key facts from the third quarter 2018 GDP release: Expenditure on GDP increased by [...]

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Cecil Kilpin | November 2018 Newsletter

By |2022-01-20T14:33:16+02:00Nov 2nd, 2018|Business, Finance + Economics, Goverment, Newsletter, Tax|

The 17 Sustainable Development Goals (SDGs) The 17 Sustainable Development Goals (SDGs) of the 2030 Agenda for Sustainable Development were adopted by 193 world leaders in September 2015 at the United Nations General Assembly: “Transforming our World: the 2030 Agenda for Sustainable Development” [known as Agenda 2030]. They officially came into force on the 1 January 2016. South Africa is one of the member states of the United Nations. The 2030 Agenda consists of four parts: Vision and principles Goals and Targets Means of implementation Follow up review mechanism Vision and principles: Countries that have committed to the 17 SDGs have until 2030 to achieve 3 overarching goals which underpin the Agenda. They are: To end extreme poverty To fight inequality and injustice To fix climate [...]

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Cecil Kilpin | August 2017 Newsletter

By |2022-01-21T11:12:08+02:00Aug 3rd, 2017|Business, Finance + Economics, Newsletter, Tax|

SARS PUBLISHES DRAFT TAX AMENDMENT BILLS National Treasury and SARS have published, for public comment, various tax amendment bills. Together with the 2017 Draft Rates, Monetary Amounts and Amendment of Revenues Laws Bill published on 22 February 2017, these three draft Bills give effect to the tax proposals announced in the Budget Review. The two draft Bills released include most of the more complex and administrative tax proposals but exclude the proposals dealt with in the 2017 Draft Rates Bill, such as: changes to the personal income tax brackets, rates and excise duties and the introduction of the Health Promotion Levy (the proposed sugary beverage tax).Some of the key tax proposals contained in the 2017 Draft bills are: A higher fringe benefit exemption for bursaries [...]

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