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The mining industry has been the bedrock of the South African economy for over 100 years. The sector has made many positive contributions to the development of our economy, and some of the infrastructure and industries thriving today are as a direct resulting of mining.
TABLE OF CONTENT
MEANING
DEFINITION
BASIC OF TAXATION
NATURE
IMPORTANCE
PURPOSE
MEANING OF TAXATION
TAXATION, IMPOSITION OF COMPULSORY LEVIES ON INDIVIDUALS OR ENTITIES BY GOVERNMENT.
TAXES ARE LEVIED IN ALMOST EVERY COUNTRY OF THE WORLD, PRIMARILY TO RAISE REVENUE FOR GOVERNMENT EXPENDITURES, ALTHOUGH THEY SERVE OTHER PURPOSE AS WELL.
DEFINITION OF TAXATION
OXFORD DICTIONARY:
CONTRIBUTION LEVIED ON PERSONS, PROPERTY OR BUINESSS FOR THE SUPORT OF GOVERNMENT.
LAW CASES:
A COMPULSORY EXACTION OF MONEY BY A PUBLIC AUTHORITY FOR PUBLIC PURPOSES ENFORCABLE BY LAW (MATTHEWS V THE CHICORY MARKETING BOARD, 1938)
IRB TAX GUIDE:
IS AN AMOUNT OF MONEY WHICH IS TAKEN FROM YOUR EARNINGS TO HELP TOWARDS SOME OF THE COST OF SERVICES ARE RECEIVED IN THIS COUNTRY.
BACKGROUND OF TAXATION:
INCOME TAX ORDINANCE 1947 WITH EFFECT FROM 1 JANUARY 1948.
REPLACED BY INCOME TAX ACT 1967 WITH EFFECT FROM 1 JANUARY 1968.
BASIS OF TAXATION:
NECESSITY:
“TAXATION IS THE LIFE BLOOD OR THE BREAD AND BUTTER OF THE GOVERNMENT AND EVERY CITIZEN MUST PAY HIS TAXES”
RECIPROCAL DUTIES.
NATURE OF TAXATION:
INHERENT POWER OF SOVEREIGHTY.
ESSENTIALLY A LEGISLATIVE FUNCTION FOR PUBLIC PURPOSE.
THE STRONGEST OF ALL THE INHERENT POWERS OF THE GOVERNMENT.
TERRITORIAL IN OPERATION.
SUBJECT TO CONSTITUTIONAL AND INHERENTLIMITATIONS.
IMPORTANCE OF TAXATION:
HELPS BUILDING THE NATION:
WITHOUT TAXES, IT WOULD BE IMPOSSIBLE FOR THE GOVERNMENT TO RUN THE COUNTRY.
WELFARE SCHEMES.
IMPROVED HEALTH CARE AND EDUCATION.
PURPOSE OF TAXATION:
GROWTH :
PROVIDING INCENTIVES WIHEN THE TAX SYSTEM TO PROMOTE GROWTH, ESPECIALLY IN THE PRIVATE SECOR.
REVENUE;
TAXES RAISE MONEY TO SPEND ON ARMIES, ROADS, SCHOOL AND HOSPITALS AND ON MORE INDIRECT GOVERNMENT FUNCTIONS LIKE MARKET REGULATION OR LEGAL SYSEMS.
REDISTRIBUTION:
NORMALLY, THIS MEANS TRSFERRING WEALTH FROM THE RICHER SECTION OF SOCIETY TO POWER SECTIONS..
RE - PRICING:
TAXES ARE LEVIED TO ADDRESS EXTERNILITIES.
FOR EXAMPLE: ALCOHOL IS TAXED TO DISCOURAGE ALCOHOLISM, AND A CARBON TAX DISCOURAGE USE OF CARBON BASED FUELS.
REPRESENTATION:
THE GOVERNMENT TAX CITIZENS, AND CITIZENS DEMAND ACCOUNTABILITY FROM THEIR RULERS AS THE OTHER PART OF THIS BARGAIN.
CONCEPT OF TAXATION:
TAXATION IS THE INHERENT POWER OF THE STATE TO IMPOSE AND DEMAND CONTRIBUTION UPON PERRSONS, PROPERTISE OR RIGHTS FOR THE PERSONS OF GENERATING REVENUES FOR PUBLIC PURPOSES.
THE POWER OF TAXATION UPON NECESSITY AND ITS INHERENT IN EVERY GOVERNMENT OR SOVEREIGHNTY.
THANK YOU
SEMINAR BY PRIYANKA SRINIVASULU REDDY
The mining industry has been the bedrock of the South African economy for over 100 years. The sector has made many positive contributions to the development of our economy, and some of the infrastructure and industries thriving today are as a direct resulting of mining.
TABLE OF CONTENT
MEANING
DEFINITION
BASIC OF TAXATION
NATURE
IMPORTANCE
PURPOSE
MEANING OF TAXATION
TAXATION, IMPOSITION OF COMPULSORY LEVIES ON INDIVIDUALS OR ENTITIES BY GOVERNMENT.
TAXES ARE LEVIED IN ALMOST EVERY COUNTRY OF THE WORLD, PRIMARILY TO RAISE REVENUE FOR GOVERNMENT EXPENDITURES, ALTHOUGH THEY SERVE OTHER PURPOSE AS WELL.
DEFINITION OF TAXATION
OXFORD DICTIONARY:
CONTRIBUTION LEVIED ON PERSONS, PROPERTY OR BUINESSS FOR THE SUPORT OF GOVERNMENT.
LAW CASES:
A COMPULSORY EXACTION OF MONEY BY A PUBLIC AUTHORITY FOR PUBLIC PURPOSES ENFORCABLE BY LAW (MATTHEWS V THE CHICORY MARKETING BOARD, 1938)
IRB TAX GUIDE:
IS AN AMOUNT OF MONEY WHICH IS TAKEN FROM YOUR EARNINGS TO HELP TOWARDS SOME OF THE COST OF SERVICES ARE RECEIVED IN THIS COUNTRY.
BACKGROUND OF TAXATION:
INCOME TAX ORDINANCE 1947 WITH EFFECT FROM 1 JANUARY 1948.
REPLACED BY INCOME TAX ACT 1967 WITH EFFECT FROM 1 JANUARY 1968.
BASIS OF TAXATION:
NECESSITY:
“TAXATION IS THE LIFE BLOOD OR THE BREAD AND BUTTER OF THE GOVERNMENT AND EVERY CITIZEN MUST PAY HIS TAXES”
RECIPROCAL DUTIES.
NATURE OF TAXATION:
INHERENT POWER OF SOVEREIGHTY.
ESSENTIALLY A LEGISLATIVE FUNCTION FOR PUBLIC PURPOSE.
THE STRONGEST OF ALL THE INHERENT POWERS OF THE GOVERNMENT.
TERRITORIAL IN OPERATION.
SUBJECT TO CONSTITUTIONAL AND INHERENTLIMITATIONS.
IMPORTANCE OF TAXATION:
HELPS BUILDING THE NATION:
WITHOUT TAXES, IT WOULD BE IMPOSSIBLE FOR THE GOVERNMENT TO RUN THE COUNTRY.
WELFARE SCHEMES.
IMPROVED HEALTH CARE AND EDUCATION.
PURPOSE OF TAXATION:
GROWTH :
PROVIDING INCENTIVES WIHEN THE TAX SYSTEM TO PROMOTE GROWTH, ESPECIALLY IN THE PRIVATE SECOR.
REVENUE;
TAXES RAISE MONEY TO SPEND ON ARMIES, ROADS, SCHOOL AND HOSPITALS AND ON MORE INDIRECT GOVERNMENT FUNCTIONS LIKE MARKET REGULATION OR LEGAL SYSEMS.
REDISTRIBUTION:
NORMALLY, THIS MEANS TRSFERRING WEALTH FROM THE RICHER SECTION OF SOCIETY TO POWER SECTIONS..
RE - PRICING:
TAXES ARE LEVIED TO ADDRESS EXTERNILITIES.
FOR EXAMPLE: ALCOHOL IS TAXED TO DISCOURAGE ALCOHOLISM, AND A CARBON TAX DISCOURAGE USE OF CARBON BASED FUELS.
REPRESENTATION:
THE GOVERNMENT TAX CITIZENS, AND CITIZENS DEMAND ACCOUNTABILITY FROM THEIR RULERS AS THE OTHER PART OF THIS BARGAIN.
CONCEPT OF TAXATION:
TAXATION IS THE INHERENT POWER OF THE STATE TO IMPOSE AND DEMAND CONTRIBUTION UPON PERRSONS, PROPERTISE OR RIGHTS FOR THE PERSONS OF GENERATING REVENUES FOR PUBLIC PURPOSES.
THE POWER OF TAXATION UPON NECESSITY AND ITS INHERENT IN EVERY GOVERNMENT OR SOVEREIGHNTY.
THANK YOU
SEMINAR BY PRIYANKA SRINIVASULU REDDY
The Federal Government's Budget
The 1999 Constitution requires Mr. President to present the annual budget of the Federal Government to the National Assembly for its passage. The Budget gives details of expected revenue and expenditure, and presents the direction of Government's policies and spending priorities for a given fiscal year. Normally, this fiscal year runs from 1st January to 31st December; although this has sometimes been extended to 31st March in recent years.
Through the Budget, the Federal Government delivers essential public goods and services, such as education, healthcare, infrastructure and security to its citizens. The government needs to plan its financial activities and come up with detailed spending plans to provide these goods and services. The Federal Budget as a fiscal policy tool affects many aspects of our economy such as the general price level of goods and services in the economy, interest rates at which individuals and businesses can borrow money, the exchange rate at which the Naira trades against other currencies and the rate of growth of the economy. These 'macroeconomic variables', as Economists call them, affect the wellbeing of the entire economy and, indeed, the social and economic wellbeing of all Nigerians.
Effect of Republic Act 10963 “Tax reform for Acceleration and inclusion (Trai...IJAEMSJORNAL
The study was conducted in one of Nueva Ecija's Revenue District Offices. Thirty (30) revenue officers assigned to the assessment, client assistance, collection, and compliance sections, as well as twenty (20) taxpaying citizens, participated in the study. The researchers found out that the effects of the TRAIN LAW on the collection performance in Income Tax for the taxable year 2018 and 2019 of the said revenue district office gradually improved on its full implementation by the year 2019, despite the decrease in collections from the personal income taxes of purely compensation and purely business income earners but still the collections from mixed-income earners [1] increases in 2018 and there is a positive growth in tax revenues collected from personal income taxes in 2019.
The Federal Government's Budget
The 1999 Constitution requires Mr. President to present the annual budget of the Federal Government to the National Assembly for its passage. The Budget gives details of expected revenue and expenditure, and presents the direction of Government's policies and spending priorities for a given fiscal year. Normally, this fiscal year runs from 1st January to 31st December; although this has sometimes been extended to 31st March in recent years.
Through the Budget, the Federal Government delivers essential public goods and services, such as education, healthcare, infrastructure and security to its citizens. The government needs to plan its financial activities and come up with detailed spending plans to provide these goods and services. The Federal Budget as a fiscal policy tool affects many aspects of our economy such as the general price level of goods and services in the economy, interest rates at which individuals and businesses can borrow money, the exchange rate at which the Naira trades against other currencies and the rate of growth of the economy. These 'macroeconomic variables', as Economists call them, affect the wellbeing of the entire economy and, indeed, the social and economic wellbeing of all Nigerians.
Effect of Republic Act 10963 “Tax reform for Acceleration and inclusion (Trai...IJAEMSJORNAL
The study was conducted in one of Nueva Ecija's Revenue District Offices. Thirty (30) revenue officers assigned to the assessment, client assistance, collection, and compliance sections, as well as twenty (20) taxpaying citizens, participated in the study. The researchers found out that the effects of the TRAIN LAW on the collection performance in Income Tax for the taxable year 2018 and 2019 of the said revenue district office gradually improved on its full implementation by the year 2019, despite the decrease in collections from the personal income taxes of purely compensation and purely business income earners but still the collections from mixed-income earners [1] increases in 2018 and there is a positive growth in tax revenues collected from personal income taxes in 2019.
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Objective Capital's Africa Resources Investment Congress 2011
Ironmongers' Hall, City of London
14-15 June 2011
Day 2: Focus on Zimbabwe
Speaker: Prince Mupazviriho - Republic of Zimbabwe
The systematic marginalization of the majority of South Africans, facilitated by exclusionary policies of the apartheid regime, prevented Black Persons, as defined herein, from owning the means of production and from meaningful participation in the mainstream economy. To redress these historic inequalities, and thus give effect to section 9 (equality clause) of the Constitution of the Republic of South Africa, 1996 (Constitution), the democratic government enacted, inter alia, the Mineral and Petroleum Resources Development Act, 2002 (Act No. 28 of 2002) (MPRDA).
President Cyril Ramaphosa has reiterated the need to build both a strong developmental state and a fast growing private sector to achieve a world class economy.
Industrial policy means Rules, Regulations , Principles, Policies and Procedures laid down by government for regulating, development, and controlling industrial undertakings in the country.
It prescribes the respective roles of the Public, Private, Joint, and Co-operative sectors for the development of Industries.
It also indicates the role of the large, medium and small scale sector.
It incorporates fiscal and monetary policies, tariff policy, labour policy, and the Government attitude towards foreign capital, and role to be played by multinational corporations in the development of the industrial sector.
Professor Alejandro Diaz Bautista Presentation Albuquerque April 2014Economist
Professor Alejandro Diaz-Bautista. Presenting at the Annual Meetings of the Association of Borderlands Studies and the 56th Annual Conference of the Western Social Science Association.
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Hyatt Regency Albuquerque.
Public Sector Reforms in Africa: Focus, Challenges and Lessons Learntinventionjournals
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However, regardless of the evaluation results, they have without a doubt had an impact on the way we
understand and shape public management on the African continent. Inevitably, a number of insights and lessons
have been gained on the subject matter. In this article, I suggest that a number of lessons have been learnt
which should guide reformers to improve on public sector reforms and scholars to seek further explanations for
failure and success. There is also the need for students of public sector reforms to question further the
prevailing assumptions and theories underpinning these reforms. In the light of the challenges facing public
sector reform in Africa, this paper argues that ownership of reform programmes by African governments and
other stakeholders is necessary.
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Bee module 1
1. 1.1 THE LEGACY OF APARTHEID
The structured exclusion of black people from economic power began in the
late 1800s with the first dispossession of land and continued throughout the
20th century
The impact of this systematic disempowerment not only resulted in a landless
black majority with restricted access to skills development
The system deliberately prohibited black people from generating self-
employment and entrepreneurship
In 1994, the democratic government inherited an economy in deep structural
crisis, trapped in a low-growth equilibrium, economic exclusion and
underdevelopment.
The Broad-Black Economic Empowerment became a necessary government
intervention to address the systematic exclusion of the majority of South
Africans from full participation in the economy
Racially segregated areas enforced through the Group Areas Act not only
uprooted millions from their places of residence, but also led to large capital
losses and virtually destroyed the fabric of black small enterprises
The drastic restriction of property ownership rights of black persons made it
impossible for them to acquire assets that could serve as collateral for loan
financing; it also excluded black persons from the long-run process of capital
accrual and growth
1
Page
2. 1.2 WHY BLACK ECONOMIC EMPOWERMENT IS NECESSARY
As a result of our past South Africa is one of the most unequal economic places in the world i.e.
White people as a population group, own over 90% of all industrial undertakings. Blacks
including coloureds and Indians make up 90% of the population, but own only 10% of the
economy. A clear mandate was implemented to rectify the inequalities of the past by:
Implementing policies in every sphere: political, social
and economic life.
Accelerating progress, our democracy implemented changes
since 1994, but not enough for the establishment of a
prosperous society
Having all South Africans participate meaningfully in the
Economy
Aligning ourselves with Government’s objective to achieve
this vision of an adaptive economy characterised by growth,
employment and equity by 2014
Acknowledging the vast racial and gender inequalities in the distribution of and access
to wealth, income, skills and employment and recognizing that this represents a threat
to our young democracy
More than just an economic imperative, the deracialisation and engendering of our
economy is a moral requirement in keeping with the values and principles of equity
enshrined in our Constitution.
2
Page
3. 1.3 BUILDING THE FOUNDATION FOR BROAD BASED BLACK
ECONOMIC EMPOWERMENT
Since 1994 government embarked upon a broad programme to supply a legislative framework
for the conversion of our economy.
Prevention of Unfair
Discrimination Act
Goverment introduced
specific active measures Competition Act
to overcome distortions in
the labour market
Minerals and Petroleum
Development Act
Extension of Security
of Tenure Act
New laws have restored
rights to land and Restitution of Land
residence Rights Act
National Empowerment Fund
Act
Goverment provided new
economic opportunities Employment Equity Act
to historically
disadvantaged persons
Preferential Procurement
Policy Framework Act
3
Page
4. 1.4 LEGISLATIVE MEASURES
1994 Government has tackled inequality in specific areas, as well as enact on specific
legislation to address economic inequalities
1995 A National strategy for the development and promotion of small business in South
Africa was tabled in Parliament. The creation of new black-owned and–controlled
enterprises was seen as a key component of this strategy
1996 The National Small Business Act was introduced to provide an enabling environment
for SMMEs and to establish several institutions to provide financial and other support
to entrepreneurs
1997 Government issued a green paper on public sector procurement reform. This
recognised that government, as the largest buyer of goods and services in the
economy, had the responsibility to leverage this purchasing power in support of its
economic policy objectives of BEE, small enterprise development, and labour
intensive construction. Mechanisms were introduced to give effect to a preferential
procurement policy:
The tendering process was made more accessible to black people
Tenders were ‘unbundled’ into smaller tenders to allow smaller enterprises to
tender for work
A point system was introduced to award tenders on the basis of the combination
of price and preference for targeted groups
1998 Legislation were enacted that address specific elements of the black economic
empowerment challenge. One of the core objectives of the Competition Act was to
enable and increase the numbers of historically disadvantaged persons with an
ownership stake in the economy. Indeed, the preamble to this Act recognizes that
competition law had to specifically address the excessive concentration of ownership
and control of the economy in South Africa’s Economic Transformation.
4
Page
5. 1.5 CASE STUDY
Turn to Appendix A – Discuss in Groups your findings on the Case Study
Provided. Detail the Acts that have been implemented and describe in
your own words what impact the Act has made to the Economy.
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5
Page
7. 1.7 CONCLUSION
The policies and programmes introduced since the dawn of our democracy is only the starting
point in rebuilding South Africa as a country belonging to all its citizens. While much progress
has been achieved in the policy architecture, the rebuilding of a sustainable future lies in an
inclusive empowerment of historically disenfranchised individuals.
Black Economic Empowerment is perceived by many as unnecessary government red-tape,
which stifles free enterprise. It has come to mean both everything and nothing at the same
time. On the contrary this drawing together of Governments transformation programmes
necessitates a rational, focused strategy. Engagement with this programme will create
meaningful opportunities for a sustainable future for all South Africans.
7
Page