South Africa announces tax relief for business hit by coronavirus

South Africa’s National Treasury said on Sunday it was introducing a new tax subsidy of 500 rand ($28) per month for each worker to employers for the next four months to cushion financial losses suffered by firms due to the coronavirus.

In a statement, the treasury said it would also permit businesses with revenue of 50 million rand or less to delay paying 20 per cent of their employees’ tax liabilities over the next four months.