“It follows that the platform would have to charge VAT at the rate of 15% on the facilitation fee, notwithstanding the fact that it facilitates the booking of accommodation that is located outside South Africa.”
The trade war escalated sharply on Monday as China hit back with five per cent to 10 per cent duties on another $60bn worth of U.S. goods, a development that sparked the biggest fall in US stock prices since January.
The economic program of the government, in office since January 2017, contains a large number of planned measures to strengthen agriculture and industry, including tax cuts, incentives for the private sector and infrastructure development.
KMRC is a non-Bank financial institution designed to provide long-term funding and capital market access to local lenders, including commercial banks, and Savings and Credit Cooperative Organizations to help consolidate the East African nation's grow
In foreign exchange, the bank said it had entered an underweight position on the South African rand, citing expensive valuations.
This complements the first round of We-Fi funds announced in April 2018, which allocated $120 million for projects implemented by the World Bank Group, Asian Development Bank, and Islamic Development Bank to tackle the barriers facing women entrepreneurs
"The goal is to realize the union of an integrated, prosperous and peaceful Africa driven by its own citizens," he told CNN.