Government announces tax relief for small businesses

The National Treasury has announced tax relief measures targeting small and medium enterprises (SMEs), in a move aimed at cushioning traders from the current harsh economic conditions.

The relief package includes simplified tax compliance procedures and reduced penalties for SMEs with an annual turnover below a specified threshold.

Business associations across the Eastern region have welcomed the announcement, saying it will provide much-needed breathing room for traders still recovering from previous economic shocks.

"This is a step in the right direction. Many of our members have been struggling to keep up with compliance costs," said a representative of a regional traders' association.