The South African Revenue Services (SARS) is one of the largest tax collecting agencies in South Africa. It is by law to collect revenue from South African citizens and ensure that they comply with the tax law. Their main aim is to ensure that they enhance the economy and social development that will benefit all citizens.
Now that President Ramaphosa has extended the National State of Disaster to 31 January 2021, it begs the question, will the Unemployment Insurance Fund be extending the Covid-19 TERS fund as well? Well, here's what we know.
The Economic Freedom Fighters (EFF) has started protesting against SASSA and decisions they have made concerning providing financial support to South Africans during the pandemic. They are calling this the 'EFF Labour Desk March' as they march to the Department of Labour and SASSA offices.
The Unemployment Insurance Fund is now under fire as it announced the end of the Temporary Employer/Employee Scheme. The UIF's Commisioner has now spoken on the situation saying that TERS was only supposed to be for three months.
Business for South Africa calls for Government to extend the Covid-19 Temporary Employer/Employee Relief Scheme as it was found that the Unemploymnt Insurance Fund does indeed have the funds to do so. The scheme was set up and launched in March and applications closed in September.
More than 2.2 million South Africans have lost their jobs during the lockdown period. Many have turned to the UIF, hoping for financial assistance. The fund has paid out more than R49bn since the Temporary Employer/Employee Relief Scheme (TERS) was introduced at the beginning of the lockdown.
UIF has said that their recent calculations are correct and up to date due to system changes. This comes after the Auditor-General's report showed that calculations for TERS payments were done incorrectly and a billion rand was lost.
The Unemployment Insurance Fund (UIF) has extended closing dates for applications for the Covid-19 Temporary Employer-Employee Relief Scheme (TERS) until the end of the national state of disaster. Each application period announced by the UIF has its own closing date.