Parks Tau
Coverage of Parks Tau in the Nexus archive.
- South Africa seeks tariff exemption as US probes forced labor tied to imports
South Africa requested the U.S. to exempt it from proposed tariffs linked to a U.S. investigation into forced labor enforcement, arguing it has robust laws against the practice. The delegation highlighted South Africa's ratification of ILO conventions and existing import bans on prison labor, urging exemptions for key exports like platinum group metals and vehicles.
- South Africa mulls tax cuts to boost industrial growth
South Africa is considering tax cuts in special economic zones (SEZs) to revive industrial growth, aligning with World Bank recommendations. The plan aims to extend a 15% corporate tax rate to all SEZs, attract foreign investors like Rio Tinto and Ardagh Group, and unlock $109 billion in corporate cash amid declining manufacturing output. Morocco recently surpassed South Africa as Africa’s most industrialized economy.