South Africa is the world's biggest producer of chrome ore, a key ingredient in stainless steel.
The industry body representing South African chrome producers criticised a proposed chrome ore export tax put forward by the cabinet on Thursday, which would make it more expensive for them to ship their product overseas.
Last year it supplied 12.5 million tonnes of the mineral to China - 83% of China's total chrome imports.The proposed tax would drive up costs for chrome ore producers to export, incentivising them to instead transform the raw material into ferrochrome inside the country.
Neither the cabinet nor the mines ministry disclosed details about the tax, which is part of a package of measures meant to help the country's struggling ferrochrome industry. Read more: Sowetan LIVE »
LIVESTREAM: Memorial service for Kimi Makwetu
Auditor-General, Kimi Makwetu died last week after battling lung cancer since 2018.
But we have nothing to show for that.Maybe we must be greedy and charge more for exporting it We the Citizens of South Africa benefit fokol from this. All we inherited was looting After 26 years of democracy, Our minerals dont benefit us, why? And yet.... Unfortunately South Africans do not own the mines. We only benefit through taxes. Government should go ahead with the proposed tax.
PETER BRUCE: Local not so lekker if prices go sky highCyril Ramphosa's policy of import substitution could have severe drawbacks for SA's producers and consumers Bruceps Spent R650 on a basket filled with a few basic items that will not last me half a week. No luxuries. It is absolutely ridiculous how food prices increased since level 1 started. Bruceps We do not have dollars as south Africans Bruceps Must be ok if your hero says so P Bruce!!
PODCAST | Economic news of the week: Tax season will still be continuing as normalHost Mudiwa Gavaza is joined by Keith Engel, CEO of the SA Institute of Tax Professionals
Final day for tax return walk-insThursday is the final day individual taxpayers can file their personal income tax return at a SARS branch. I thought there was a deadly virus ? Get Malema and Ace Behind bars , then come ask for tax money
Alarm bells over new Aarto law that proposes sending fines via WhatsApp, emailDraft regulations for the Administrative Adjudication of Road Traffic Offences (Aarto) Act proposes a R100 infringement levy and the use of electronic service options which could include WhatsApp, email or SMS. Picture: Bongiwe Mchunu Via whats app they are mad, what if your number doesnt work or u dont have a whats app ngoba your phone got lost and u bought one without capabilities. Google will send such emails to spam eventually. It won't work I could just I never obtain that message and email mos 🤣🤣😂