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South African Islamic investors and financiers are likely to be recognised by way of a new insertion in the Income Tax Act, consultancy Grant Thornton said on Tuesday.
The proposed new section of the act would take into account Shariah practices which involved profit and risk sharing and forbade the paying or receiving of interest or investment in certain industries.
"The proposed new section of the act brings three types of Islamic financing transactions into the tax net - the inves
Posted 2 Weeks, 1 Day ago
by total
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- Inflation delivered yet another surprise on the downside on Wednesday, with the July rate of change in the consumer price index (CPI) coming in at 3.7% from 4.2% in June, immediately reigniting speculation that an interest rate cut may be on the cards next month.
The rate was the lowest since July 2006 and is well below the midpoint of the Reserve Bank's 3% to 6% target range for inflation.
The fall came despite a sharp spike in electricity tariffs, which Statistics SA said was 16.3%.
Posted 2 Weeks, 1 Day ago
by total
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SA is developing plans to achieve a target growth rate of at least 7% per annum in the near future, President Jacob Zuma said on Wednesday.
In a lecture prepared for delivery to the Renmin University in Beijing, China, Zuma said this target growth rate was achievable as the country was investing heavily in electricity, freight transport systems, and public transport.
Last year SA suffered its first recession in 17 years as a result of the global financial crisis.
While the economy was
Posted 2 Weeks, 1 Day ago
by total
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A hunt was on Sunday for the woman branded "Britain's most disgusting person" for urinating on a war memorial after she fled court following a public shaming by elderly veterans.
An arrest warrant is out for Wendy Lewis, 32, who was given a "guard of dishonour" by angry veterans when she appeared at Blackpool Magistrates Court in northwest England.
She was caught on security cameras relieving herself on the seaside town's Cenotaph, before performing a sex act on a man nearby.
Lewis was
Posted 2 Weeks, 4 Days ago
by nyabo
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does anyone know where i can buy these?
Don't think the usual retailers (Game/PnP/Checkers) sell them anymore
Posted 1 Month ago
by total
Views: 16
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It is more difficult to buy a house than ever before notwithstanding lower interest rates, market statistics show.
According to Absa’s latest house price index, prices were 15.2% higher last month than a year ago.
The average house price is R1m.
There are several factors affecting the affordability of housing.
These include the broader economic environment, household indebtedness, banks' lending criteria and the National Credit Act.
There has also been a recent decline in cal
Posted 2 Months ago
by total
Views: 35
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