Budget Speech: If money talks, why are we listening to ministers?

02 March 2023
Budget Speech: If money talks, why are we listening to ministers?
02 March 2023

Honorable business members of South Africa,  I stand here today to present the budget and planning for 2023. We’ve gathered that money talks, but why our ministers far louder?  

Due to the legislative changes outlines in the Budget Speech 2023, every business sector will require to adapt to the disruption caused within their industry. At Latita, we have committed ourselves to making sure that your books are a point of order, aligning with all the amendments that were highlighted by the Minister of Finance, Enoch Godongwana.  

For Accounting Audit and Advisory 

We empower every local and multinational organisation in Africa with the financial master plan that efficiently suits every stage of your business lifecycle. Our Advisory services play a crucial role in supporting businesses in navigating the unpredictable regulatory landscape. Last year we saw low levels of economic growth, which resulted in an increase in Excise duties tax of 4.9 percent in the alcohol and tobacco industry. This surge will put more pressure within the industry, affecting jobs and the overall bottom line. With us as your advisory partners, you can trust that we will be one step ahead, ensuring that you maintain a competitive edge within your industry while deliver meaningful benefits to your organisations’ day to day processes. 

For the best Audit and Advisory services contact Latita today! 

For Tax Services 

Income tax has risen to 28% for companies with years of assessment ending on any date between 1 April 2022 and 30 March 2023 and 27 % for companies with years of assessment ending on any date after 31 March 2023. This increase means that your small business corporations won’t have to pay a taxable income rate if your profit margins for the year are below R97 750.  Should your small business surpass this threshold, it will be liable to comply with the tax regulations within this specified threshold. As the change makers that we are, we understand the challenges associated with navigating these developments. Our comprehensive collection of inbound and outbound tax services allows us to revolutionise how you do business with the world. We ensure that our clients are aligned with the most efficient strategies, providing a wide range of compliance and advisory services. So, with us as your financial partner, you won't be getting that terrifying call from you know who, the acronym people, SARS.  

Stay in the forefront of your industry, contact Latita today!

For Tax Debt Assist 

Speaking of you know who, SARS has completed 2 316 seizures of assets and inventory to the value of R598.8 million in certain industries. Ignoring certain aspects of your business can cost you a fortune. We know you wish that you didn’t have to deal with some aspects of your business, the feel like they should have never been a part it. We’ll take over that aspect of your business so that you can focus on what really matters to you. Our firm provides SARS Debt Remedies and Tax Dispute Resolution solutions, where our accountants and legal team specialise in areas of tax debt management, offering a full spectrum of tax advisory services. 

Let your business operate efficiently with less red tape and take a firm stance with our advisory and compliance services. Ensure that your books are a point of order, Partner with Latita, the change makers of Africa.  

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