How VAT increase impacts the insurance industry
Category: Business Insurance
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How VAT increase impacts the insurance industry
How VAT increase impacts the insurance industry Let’s first take a hike back in time. In 1991, South Africa introduced Value Added Tax (VAT) to replace General Sales Tax (GST) as an indirect tax at a statutory rate of 10%, which increased to 14% in 1993. Fast forward 25 years. Facing a massive revenue shortfall…
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Influencers and online content creators to beware of liability risks
Influencers and online content creators to beware of liability risks With the number of social media influencers and content creators increasing almost daily, more and more people run the risk of criminal and civil liability for their online activities. This according to Johannes du Plessis, Legal Advisor at RBS (Risk Benefit Solutions Pty Ltd), an…
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China is creating more of a buzz in the electric car market than the US.
Shhhh. Can you hear that? It’s the quiet purr of the electric car invasion. In 2016, China registered over 350 000 new electric vehicles (EV’s), compared to only 159 000 in the US during the same time period (over half were in ever green-friendly California). While automotive analysts caution that China’s numbers could be inflated…
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The Scourge of Ransomware
The Scourge of Ransomware As the third largest global business risk, per the Insurance Information Institute (III), cyber-crimes have accounted for at least 500 million incidents within the first half of 2016 alone, most likely to see this number increased drastically due to the recent WannaCry malware hack which targeted large corporations and individuals globally.…