JOHANNESBURG – National Treasury has allocated R2.3 billion to help businesses affected by the recent looting in KwaZulu-Natal and Gauteng, provided they are registered and tax compliant. The plans were announced at a briefing on Wednesday, following President Cyril Ramaphosa’s address to the nation at the weekend.A total of R36.198 billion worth of relief funds will be made available to assist various sectors impacted by Covid-19 and the recent unrest, according to National Treasury Director General Dondo Mogajane. The R2.3 billion will assist small businesses through the Department of Small Businesses and the Department of Trade and Industry, Mogajane added.“There is money that is reprioritised within the Department of Small Businesses and the Department of Trade Industry and Competition. The Presidency and (Treasury) met with the insurance companies,” said Mogajane.“There are ongoing discussions… as part of the support that is going towards [helping] uninsured businesses.”Although treasury is keen on helping small businesses recover as soon as possible, […]
LOOTED SMALL BUSINESSES TO BENEFIT FROM R2.3BN FROM TREASURY – MUST BE TAX COMPLIANT
