SOEs & OTHER TAXES

R63.3 billion

The country’s tax revenue shortfall for 2019-20 stood at R63.3 billion, much higher than the R52.5 billion projected in the 2019 medium-term budget policy statements (MTBPS). This was due to the weaker-than-expected 0.3% economic growth and the sluggish employment and wage growth which affected personal income tax collection.

R112 billion

Government will transfer R112 billion to Eskom to enable the power utility to meet its short-term financial obligations over the next three years as it begins the unbundling process of separating the utility into three units – generation, transmission and distribution. It will soon have its own board and management structures.

R16.4 billion

The ailing South African Airways, which is currently under business rescue, will receive R16.4 billion over the medium term to repay guaranteed debt and interest costs. Additional funding was anticipated to cover restructuring costs, in line with the rescue plan.

R3.2 billion

R3.2 billion was allocated to the public broadcaster in 2019-20. R2.1 billion has already been transferred to assist the broadcaster to pay its bills. The remaining R1.1 billion is expected to be transferred by 31 March.

R51.4 billion

Treasury has set the military budget at R51.4 billion for this year.

25c per litre

Government has proposed that the general fuel levy increase by 16c per litre and the Road Accident Fund levy to increase by 9c per litre. This will be effective from 1 April. The general fuel levy will rise to R3.70 per litre of petrol and R3.55 per litre of diesel. The Road Accident Fund levy will increase to R2.07 per litre for petrol and diesel.

R106.1 billion

The police service budget has been set to R106.1 billion for this year. This excludes the R49.6 billion for law courts and prisons.