FNB's Hugo van Zyl on 2017 budget expectations for S.A

With less than a week to go before South Africa's Finance Minister Pravin Gordhan gives his Budget speech, many analysts and experts are speculating about potential tax hikes and changes to the country's fiscal policy. Hugo van Zyl, the Global Solutions Specialist at FNB Fiduciary, recently shared his expectations and insights on the upcoming budget announcement in an interview with CNBC Africa. Van Zyl highlighted several key points regarding possible tax increases and their impact on inflation, high net worth individuals, and global wealth management. He also discussed the challenges and complexities faced by financial professionals in navigating the changing regulatory environment, such as the introduction of new tax rules like 7C and the implications of the voluntary disclosure program. The interview shed light on the intricate balance between tax policy, economic growth, and the need for certainty in the business environment. Van Zyl emphasized the importance of wealth taxes and job creation as key considerations in shaping South Africa's fiscal strategy. As the country braces for potential changes in taxation and regulatory frameworks, financial experts like Van Zyl play a crucial role in helping clients adapt and make informed decisions in a rapidly evolving financial landscape.