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Covid-19 Factsheet South Africa

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Covid-19 Factsheet South Africa Covid-19 Factsheet South Africa Copyright © 2020 Rubix. All rights reserved. COVID-19 Factsheet South Africa Country Specifications Elements Details Country South Africa Yes, South Africa is partially under lockdown. Restrictions are currently being eased in levels. The government allowed a partial reopening of the economy Whether the country is/was on May 1, with travel restrictions eased and some under Lockdown (LD)? industries allowed to operate under a five-level risk system. Currently, South Africa is in Level 3 of lockdown, with some businesses and industries reopening with numerous restriction Period of LD Start Date: 26-03-2020 Page 1 of 21 Government Intervention Elements Details ● South Africa has now allowed citizens to start exercising outside their home and go to places of worship ● The ban on the sale of alcohol was lifted ● Public transport vehicles have been allowed to operate as long as passengers adhere to the rules of social distancing, sanitising, and mask-wearing ● The following services and premises remain closed: ○ Gyms and fitness centres ○ Sports groups and fields and swimming pools—except for training professional athletes ○ Fetes and bazaars ○ Night clubs ○ Accommodation establishments that are not formally accredited and licensed ○ Conference facilities, except for business use ○ Any on-consumption premises—bars, taverns, shebeen, and similar establishments ○ Beaches and public parks Restrictions Imposed in the ● The following restrictions are still in place: Country ○ Domestic passenger air travel for leisure purposes have been restricted ○ Passenger ships for leisure purposes ○ Sporting events ○ Smoking and sale of tobacco products ● All South African borders are closed during the period of lockdown, except for the transportation of essential goods and fuel; inter-provincial travel is banned ● Retail shops and shopping malls must be closed, except where essential goods are sold ● Emergency repair work is allowed to operate, which includes locksmiths, glaziers, roof repairs, plumbers and electricians ● Hardware and car-part stores able to open but only for emergency supplies. ● Retail stores permitted to stay open and sell essential items are barred from selling any other goods Page 2 of 21 ● Temporary residence visas issued to foreigners residing in high-risk countries—Germany, Italy, Iran, South Korea, Spain, United Kingdom, USA, and France—have been withdrawn unless such persons had arrived in South Africa on or before March 15 Restrictions Imposed in the ● Entry to foreign travellers arriving from or Country (continued) transiting through high-risk countries—Italy, Iran, South Korea, Spain, Germany, France, Switzerland, the US, the UK, and China—has been barred (Writer 2020) (Al Jazeera 2020) Economic Stimulus Measures: National Empowerment Fund (“NEF”) Support ● The NEF is making R200,000,000 in loans available for black entrepreneurs to manufacture and supply a range of medical products including medical masks, sanitisers, dispensers and related healthcare products to support the healthcare sector during the COVID-19 crisis SMME Support Intervention ● The Department of Small Business Development has introduced an “SME Support Intervention” which involves a Debt Relief Fund and a Business Growth/Resilience Facility to mitigate the impact of the expected economic slowdown on Small, Micro and Medium-Sized Enterprises (“SMMEs”) in South Africa. Support extended to the ● The Department has also made over Industries at risk by R500,000,000 available to the Debt Relief Fund, Government and the SMME Finance Scheme will comprise soft-loan funding for a period of 6 months from April 01, 2020. ● The Business Growth/Resilience Facility will provide working capital, stock, bridging finance, order finance and equipment finance to small businesses which supply in-demand medical supplies ● The Department of Tourism has made an additional R200,000,000 available to assist SMMEs in the hospitality and tourism sector. Page 3 of 21 Guaranteed Loan Scheme for SMMEs ● President Cyril Ramaphosa announced a R200,000,000,000 loan guarantee scheme in partnership with the major banks, National Treasury and the South African Reserve Bank ● The initial phase of this scheme will provide that companies in good standing with their commercial banks with a turnover of less than R300,000,000 per year will be eligible for this relief Repo Rate ● The SARB announced a reduction in the repo rate—the benchmark interest rate at which the Reserve Bank lends money to other banks—to 4.25% Social Relief and Economic Support Package As per President Cyril Ramaphosa’s announcement on April 21, 2020, as part of the second phase of measures taken by the South African Government, this social relief and economic support package will comprise R500,000,000,000, which is 10% of the GDP. Support extended to the Employment-related Measures: Industries at risk by COVID-19 Temporary Employee/Employer Relief Government (continued) Scheme ● Contributions to the Unemployment Insurance Fund (UIF) are required to be withheld by employers in relation to a monthly remuneration value ● Should an employer have to close its operations for a period of 3 months or less and suffer financial distress, employees of the company shall qualify for a COVID-19 TERS Benefit. ● Employees who suffer or are expected to suffer a loss of income as a result of the temporary closure by the employer of its business operations and who were in employment prior to the commencement of the national lock-down on 27 March 2020 are eligible to receive the C19-TERS benefits. ● An employee may only receive a C19-TERS in terms of the directives if the total of the benefit together with any additional payment by the employer in any period is not more than the remuneration that the employee would ordinarily have received for working during that period Page 4 of 21 ● If the employer’s employees, during the period of lockdown, receive a C19-TERS benefit from a bargaining council, that employer may not submit an application ● As C19 TERS is a temporary relief measure, the benefit is de-linked from the UIF’s normal benefits ● The benefit will only pay for the salary cost of the employees during the temporary closure of the business operations. ● Employees who are being paid in full by their employers during this period, are not eligible for these benefits ● The maximum Unemployment Insurance (UI) benefit will be paid if the employer is unable to pay its employees during the lockdown period ● The employer must inform the UIF immediately on the recommencement of its business operations that were subject to temporary closure ● The employer must return any unutilized funds, including interest, to the UIF within 10 days of the recommencement of its business operations, or the termination of Memorandum of Agreement Support extended to the concluded by any bargaining council, whichever Industries at risk by is the earlier. Government (continued) ● The salary to be taken into account in calculating the benefits will be capped at a maximum amount of R17,712 per month, per employee and an employee will be paid in terms of the income replacement rate sliding scale ● An employee shall receive a benefit of no less than R3,500. Should an employee's income in terms of the income replacement sliding scale fall below R3,500, the employee will be paid a replacement income equal to that amount Page 5 of 21 Employment Tax Incentive (ETI) ● An incentive aimed at reducing youth unemployment by encouraging employers to hire young work-seekers ● An immediate cash benefit will be given to the employer ● The amendments of this incentive came into operation on 1 April 2020 and will apply to any remuneration paid on or before 31 July 2020 ● Employees between 30 to 65 years of age as well as employees between 18 to 29 years who were employed before 1 October 2013, will qualify for the ETI ● The gross-up of remuneration for purposes of compliance with the wage regulating measure is not required where the employee is employed and paid remuneration for less than 160 hours per month Customs Measures: ● Excise: Expedited procedure for temporary registration to use ethyl alcohol to manufacture disinfectant ● Export: Export controls on certain products— Support extended to the face masks, hand sanitizers, certain chemical Industries at risk by compounds, and certain medicaments Government (continued) ● Duty relief: Rebate of customs duty and exemption of import VAT on essential goods for which an ITAC permit had been issued Industry-specific Aid: Tourism ● The Department of Tourism has made an additional R200 million available to assist SMEs in the tourism and hospitality sector who are under particular stress due to the impact of Covid-19 Page 6 of 21 Retail ● The Minister of Trade, Industry and Competition has issued a block exemption (“Block Exemption”) for the Retail Property Sector in respect of a category of agreements or practices between designated retail property tenants and landlords ● The Block Exemption applies only to agreements or practices related to, inter alia, payment holidays and/or rental discounts for tenants ● The Block Exemption extends to all South African designated retail tenants, including small and independent retailers, unless otherwise authorised by the Minister or the Competition Commission. Tax Relief: Provisional Tax Relief—Corporates, Trusts, Individuals ● The Disaster Management Tax Relief Administration Bill has measures to provide for the deferral of provisional tax by qualifying taxpayers
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