Some relief for motorists as Minister of Finance Godonwana has on Thursday afternoon announced temporary reduction in general fuel levy for two months.
A huge relief for South Africans as the finance minister announced an emergency intervention which will see the general fuel levy reduced by R1.50 per litre.
Godongwana made the statement before the National Assembly on Thursday and will see the levy price of petrol and diesel reduced by about a R1 a litre.Godongwana said the measures were taken by the government despite its constrained fiscal position to protect poor household. He said the conflict in Ukraine has also intensified the risks for the country: “To mitigate the impact of these escalating fuel prices, I hereby table the following proposal which will be included in the 2022 Rates and Monetary Amounts and Amendments of Revenue Laws Bill for consideration by this house. A temporary reduction of the general fuel levy for R1.50 cents per litre for the period 16th of April to 31st of May 2022. This will reduce the levy for petrol from R3.85 cents per litre to R2.
Godongwana said the country can make the intervention after the liquidation of a portion of crude oil reserves which will raise about R6 billion.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Give SA a tax holiday on fuel, Parliament urges Mantashe, Godongwana | Fin24The Portfolio Committee on Mineral Resources and Energy has proposed that ministers Gwede Mantashe and Enoch Godongwana consider a tax holiday on fuel products. | Fin24
Read more »
Chair proposes scrapping of RAF tax from petrol priceParliament’s mineral resources and energy committee has proposed that the government scrap the Road Accident Fund (RAF) tax levy on fuel purchases.
Read more »
Finance minister to announce emergency measures to mitigate soaring cost of fuelFinance minister Enoch Godongwana is due to make a special address to the National Assembly on Thursday afternoon to announce emergency measures to mitigate the impact of soaring fuel prices on consumers and motorists.
Read more »
Could a fuel 'tax holiday' be the temporary relief South African motorists need?South African motorists are feeling the April heat after the latest data from the Central Energy Fund (CEF) revealed that the country might be faced with a petrol price increase of more than R2. But could a temporary ‘tax holiday’ or exemption on the country’s fuel products be the relief motorists need? This was recommended by Parliament’s Portfolio Committee on... Read more →
Read more »
PAIN AT THE PUMPS: How to beat next month’s expected fuel price increaseJoining lift clubs and/or working from home are some of the things consumers can do as fuel costs are set to increase (again) next month.
Read more »