State of the Nation Address 2023



State of the Nation Address 2023

Leave No One Behind Leave No One Behind

Cutting red tape

Businesses play a critical role in improving a country’s economy. Costly and complicated regulations prevent companies from growing and creating jobs. By simplifying business regulations and compliance, we are working to ensure that companies and entrepreneurs can focus on growth, innovation and job creation.

We have appointed a dedicated team in the Presidency to work on improving the business environment. This red tape reduction team has taken a collaborative approach to help businesses to grow, working with departments and agencies to make it easier to do business.

Government will be implementing measures to reduce red tape in priority areas, including the mining rights system, tourism transport operator licences, visas and work permits, early childhood development and the informal sector.

  • A key priority is to ensure government departments pay suppliers within 30 days.
  • The time to process VAT refunds has been reduced from 15 weeks to 4 to 5 weeks.
  • The corporate income tax audit process has been reduced from 32 weeks to 17 weeks.

We are going to support massive growth in local production and make South African exports much more competitive. A vital part of growing our industrialisation efforts are the sectoral master plans, which bring all partners together to agree on specific measures to improve productivity, investment and competitiveness.

President Cyril Ramaphosa, SONA 2022

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