Printing SA Reports On COVID-19 Tax Bill And SMME Support

666

Printing SA is continuing to lobby various groups in order to ensure that the industry is kept abreast of developments in the regulatory and legislative space and its success will be greatly enhanced through its members participation in its initiatives.

COVID-19 Tax Measures

The Minister of Finance has announced the following exceptional tax measures as part of the fiscal package outlined by President Cyril Ramaphosa on 23 March 2020 in his speech on the Escalation of Measures to Combat COVID-19. Tax compliant businesses with a turnover of R50 million or less will be allowed to delay 20% of their employees’ tax liabilities over the next four months and a portion of their provisional corporate income tax payments without penalties or interest over the next six months. Read more.

National Treasury recently published the COVID-19 Draft Tax Bills for public comment.

Although comments had to be received by 9 April, below are the bills for reference:

Ø The Draft Disaster Management Tax Relief Bill; and
Ø The 2020 Draft Disaster Management Tax Relief Administration Bill.

SMME Recovery Plan

The Small Enterprise Development Agency (SEDA) would like to assess the impact of COVID-19 on your small business. This will assist Seda and its partners to enhance support measures and turnaround strategies for small enterprises during COVID-19 and beyond. This is to gauge your business challenges and needs. Complete this COVID-19 recovery plan survey: https://forms.gle/6A39tyaqyzGtTnkq9

COVID-19 support for small, medium and micro-sized enterprises (SMMES)

SMME Debt Finance Relief

Benefitting businesses which are negatively affected, directly or indirectly, due to the coronavirus disease (COVID-19) pandemic. Read more.

Application Process:

• Register on https://smmesa.gov.za/
• Complete online application form.
• Upload required supporting documents.

SMME business growth resilience facility

Businesses geared to take advantage of supply opportunities resulting from the Coronavirus pandemic or shortage of goods in the local market.

Application Process:

• Register on https://smmesa.gov.za/
• Complete online application form.
• Upload required supporting documents.

National Empowerment Fund – Funding Black Business to fight COVID-19

• COVID-19 Fund Brochure Click here
• Media Statement NEF COVID-19 R200m Fund Click here
• COVID-19 Fund Application Form R500,000 – R10 million Click here

SAFT to support SMMEs

The Oppenheimer family announced the launch of the South African Future Trust (SAFT). SAFT extends direct financial support to SMME employees who are at risk of losing their jobs or will suffer a loss of income because of COVID-19. There is a partnership between SAFT and four of South Africa’s leading banks in administering this scheme: ABSA, FirstRand Bank, Nedbank and Standard Bank. SMMEs can now apply for funding. Read More.

The Sukuma Relief Programme is being administered by BUSINESS/PARTNERS. The Rupert family’s donation will be distributed as loans through BUSINESS/PARTNERS, a funder of small companies. The Sukuma Relief Programme is being administered by BUSINESS/PARTNERS, of which Remgro owns 42.8% stake. Grants to be provided, 12 months of no interest charged and repayments confirmed for COVID-19 relief. Those wishing to apply can visit www.businesspartners.co.za

ICC COVID-19 Response

The International Chamber of Commerce (ICC) has launched a call for urgent and decisive action to Save Our SMEs and combat the economic repercussions of the COVID-19 pandemic. Read More.

COBRA (COVID Business Rescue Assistance) Pro Bono Initiative To Help

COBRA (COVID Business Rescue Assistance) has been launched as a Pro bono service to South African businesses in distress to co-ordinate bank, government and stakeholder support through a structured business rescue process. IQbusiness, Schindlers Attorneys, Engaged Business Turnaround, Sirdar Group, Envision Advisory Services, Agility and Adept Advisory are on board to provide you with their extensive legal, accounting, technology and business turnaround expertise to help businesses in financial distress – as a result of coronavirus and or other factors. Read more.

IDC Interventions in Response to COVID-19

The Industrial Development Corporation (IDC) is supporting South Africa’s efforts to prepare for the impact COVID-19 will have on people and the economy. Read More

Submit your news and video content to journo@practicalpublishing.co.za

Subscribe to our Youtube channel, read the top 5 stories weekly on WhatsApp or sign up to our newsletter.

PRINTING SA
+27112871160
info@printingsa.org
http://www.printingsa.org

Previous articleRicoh Relaunches Postcard Service To Keep People Connected
Next articlePrinting SA Updates Industry On COVID-19 Labour And Regulatory Matters