In a speech on 23 March 2020, South African President Cyril Ramaphosa announced an escalation of measures to combat the COVID-19 pandemic. This includes the following measures to assist businesses that may be in distress:
- Using the tax system, we will provide a tax subsidy of up to R500 per month for the next four months for those private sector employees earning below R6,500 under the Employment Tax Incentive. This will help over 4 million workers.
- The South African Revenue Service will al…