Finance Act 2022

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Amid troubled economic conditions, the Honourable Dr Renganaden Padayachy, Minister of Finance, Economic Planning and Development presented the national budget on 7 June 2022. The budget, titled “With the People, for the People”, was widely devoted to measures to boost the country’s self-sufficiency in terms of food and energy, alleviate the loss in purchasing power and also alleviate the fiscal burden on low- and middle-income earners.

The Finance (Miscellaneous Provisions) Act 2022, which will serve to implement the measures announced in the said budget, was introduced to parliament on 26 July 2022 and has since then received the President’s assent.

We are pleased to present the highlights of the relevant sections of the Finance (Miscellaneous Provisions) Act 2022 and wish you a pleasant reading!