SONA 2023 | Expansion of employment tax incentive

CAPE TOWN - The government has expanded the Employment Tax Incentive in its quest to address youth unemployment.

The youth remain the most vulnerable in the employment sector.

"Last year, I announced that we would be seeking to reduce red tape so that we can rid our country of the unnecessary bureaucracy that often holds us back," Ramaphosa said.

READ: Ramaphosa: Unemployment is a national crisis

Ramaphosa says that the red tape reduction team in the Presidency, under Sipho Nkosi, has been working with various departments to make it easier to do business.

"This year, we will finalise amendments to the Businesses Act to reduce regulatory impediments for SMMEs and co-operatives," he says.

This, according to the President, will make it easier for entrepreneurs to start businesses.

The government has expanded the Employment Tax Incentive in its quest to address youth unemployment. The youth remain the most vulnerable in the employment sector. #SouthAfricanMorning #DStv403 pic.twitter.com/9jvY4lx0Fb

— eNCA (@eNCA) February 10, 2023