A research submitted to the Faculty of Commerce, Law and Management,
University of Witwatersrand in partial fulfilment of the requirements
for the degree of Master of Commerce (Taxation), Johannesburg,
2017 / South Africa is young democratic country with just 22 years in democracy underpinned by the South
African Constitution Act of 1996. Achievements and strides have been made to address the ills of the
past but like any other emerging economy, major challenges remain. These challenges impact on
business and the society at large. These challenges include lack of education, high rate of
unemployment, high levels of inequality, lack of infrastructure and investment stimulate growth.
This has been compounded by the slowdown in the world economy. The culmination of these issues
has resulted in slow or very little economic growth. The South African Government remains
instrumental in the development of the economy. Much is still required to ensure that there is
prosperity for all that live in the country. The Government has come-up with the National
Development Plan (NDP) 2030 as the economic growth strategy to address these major challenges.
There are various programmes and plans set up by the Government to address these challenges.
This research discusses some of the initiatives to address these challenges. As mentioned above,
one of the critical issues facing South Africa is the lack of infrastructure and investment to boost the
South African economy. The focus of this report is on tax incentives to support Small Medium
Enterprises and industry at large with a view that development of Small Medium Enterprises will
yield economic growth. Reputable institutions such as OECD share a view that development and
growth of SMEs is quite critical to the economic growth, SMEs are equally important for South
African economic growth. ‘SMEs (small and medium-sized enterprises) account for 60 to 70 per cent
of jobs in most OECD countries, with a particularly large share in Italy and Japan, and a relatively
smaller share in the United States. Throughout they also account for a disproportionately large share
of new jobs, especially in those countries which have displayed a strong employment record,
including the United States and the Netherlands.’ OECD publication, SMALL BUSINESSES, JOB
CREATION AND GROWTH: FACTS, OBSTACLES AND BEST PRACTICE. One can argue that with 60 to 70
per cent of jobs for most OECD countries, Small Medium Enterprises are actually the economic
drivers for these countries. / XL2018
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:wits/oai:wiredspace.wits.ac.za:10539/24134 |
| Date | January 2017 |
| Creators | Makgalemele, Mohlomi Mc-Henry |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | Online resource (78 leaves), application/pdf |
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