South Africa’s Minister of Finance delivered the 2020 Medium Term Budget Policy Statement on 28 October 2020.Key tax highlights from the reading include:No new tax proposals were introduced. The Government continues to project R5 billion (b) of tax increases in 2021/22.The current year’s tax revenue is projected to be R8.7b lower than the June budget estimate. Gross tax revenue will be 17.9% lower than collections in 2019/20 (representing a R312.8b shortfall against the 2020 Budget forecast).Government spending remains too high for the tax base with the 2020 recession partly driving this gap.Improved tax collection and administration continue to be essential to fiscal...