The minister of trade, industry and competition, Parks Tau, said businesses will be taxed 3% of their annual net earnings to contribute to the transformation fund.
The fund is expected to boost Small, Micro and Medium Enterprises and foster transformation in the country's economic sectorcurrent affairs journalist in Johannesburg, South Africa, has covered policy changes, cabinet reshuffles, the State of the Nation Address, Parliament and Parliamentary committees, politician-related news and elections at Daily Sun and Vutivi Business News for over seven years.
Multinational corporations will make cash contributions worth 25% of the value of their local operations.Not a Peace Officer said:The DTIC's deputy director general, Susan Mangole, said the funds will be disbursed as loans and grants. South Africans suspected thatTebogo Mokwena is a Current Affairs Editor at Briefly News. He has a Diploma in Journalism from ALISON.
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