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South Africans have withdrawn 49.6 billion rand ($2.8 billion) from retirement funds since the introduction of a new two-pot pension system three months ago, nearly doubling the National Treasury"s estimates. This high withdrawal rate could potentially boost the country"s economic growth by up to 0.3 percentage points this year.
The Inflation Reduction Act of 2022 enables the development and sale of clean energy tax credits, with recent guidance from Treasury and the IRS focusing on electric vehicle charging stations and sustainable aviation fuel credits. The electric vehicle charging credit offers a 6% discount, potentially increasing to 30%, for stations in eligible low-income or rural areas, capped at $100,000 for businesses. Meanwhile, producers of renewable fuels express concerns over delayed rules for the clean fuel production credit, which is hindering investment in ethanol and other renewable fuels due to uncertainty in credit valuation based on greenhouse gas emissions standards.
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uth africans withdraw 2.8 billion dollars from pensions exceeding forecasts
09:42 19.11.2024
clean energy credits face uncertainty as guidance remains pending
02:00 23.10.2024
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