Latest news with #977
Al Etihad
25-06-2025
- Business
- Al Etihad
GPSSA board approves final budget for 2024
25 June 2025 21:31 ABU DHABI (WAM)Mubarak Rashed Al Mansoori, Chairman of the Board of Directors of the General Pension and Social Security Authority (GPSSA), chaired the third board meeting on Wednesday June 25, 2025, in the presence of members of the board and subsidiary Mansoori began the meeting by welcoming members of the board who then proceeded to discuss the meeting agenda, approve the minutes of the previous meeting and review GPSSA's leadership decisions and recommendations, as well as those taken by the subsidiary committees, namely: the Higher Committee for Human Resources and Remuneration, the Investment Committee, the Audit and Risk Committee, and the Development and Improvement GPSSA discussed and approved the investment sector's strategy and the final budget for 2024 as recommended and approved by the Council of Ministers. The financial performance report for April 2025 and the developments in GPSSA's Ma'ashi digital platform were also highlighted, alongside other topics on the agenda that required appropriate statistics for May 2025 indicate that the number of contributors has increased to 157,979 in comparison to 130,678 in May of last year, showing a rise of 27,301 contributors. The number of employers registered with the GPSSA increased to 20,288 compared to 16,526 in May of last year, an increase of 3,762 employers. Additionally, the number of pensioners in May 2025 have increased to 21,417 in comparison to 20,516 pensioners for the same period last year and the number of beneficiaries reached 8,408 compared to 8,314 for May of last year, while the value of pensions disbursed for May 2025 amount to Dh478,686,572.69 compared to Dh451,262,595.96 for the same month last year, showing an evident increase of Dh27,423,977.
TimesLIVE
25-06-2025
- Business
- TimesLIVE
That feeling when your bank calls ... to tell you you're a multimillionaire
A panel beater who bagged more than R30m in the lotto jackpot draw on June 18 plans to make a significant change in his and his family's life. 'I plan to invest a significant amount of the winnings and donate some to a charitable cause,' he said. Ithuba, the operator of the national lottery, announced that the second winner of the R78,977,677.80 lotto jackpot had come forward to claim his prize of R39,488,838.90. The winner said he found out he won when he received a call from his bank. 'I just found out, and it feels absolutely surreal,' he said. His winning ticket was purchased through a banking app with a R200 wager, using the quick pick selection method. The winner, who works as a panel beater, said he plays the National Lottery games every week and has never won such a substantial amount of money. 'Though I'm a regular player, the thought of winning always sounded so far-fetched, but I had hope. Now, here I am, a multimillionaire lotto jackpot winner!' he said. He shared that he first shared the news with his wife. 'I immediately called my wife to inform her of this stroke of luck,' he said. Further, he plans to explore his passion. 'I love riding my bike in my spare time; this win gives me more freedom to explore my passions without limit.' Ithuba CEO Charmaine Mabuza congratulated the winner. 'Both winners have finally come forward to claim their winnings. This winner is still wrapping his head around his new multimillion-rand status, and we plan on helping him every step of the way. 'This new financial reality can be overwhelming, which is why we are not only passionate about responsible playing, but responsible winning too,' she said.
TimesLIVE
24-06-2025
- Business
- TimesLIVE
Self-employed mom wins nearly R40m and plans to invest in her business
A self-employed mother who bagged nearly R40m in a lotto jackpot plans to secure a better future for her family by buying a home and a car, as well as investing in her business. 'I'm excited to expand my business and buy an industrial machine that will really elevate my business,' she said. Ithuba, operator of the National Lottery, said there were two winners of the R78,977,677 lotto jackpot from the draw held last Wednesday. One woman has officially come forward to claim her prize of R39,488,838. According to Ithuba, her winning ticket was purchased at a Day and Night Superstore in Johannesburg with a R30 wager using the Quick Pick selection method. 'I was in shock and complete disbelief when I realised I had won,' the winner said. The self-employed winner is a regular National Lottery player, often using either Quick Pick or manual number selections. 'I couldn't wait to share the news with my husband — it's a moment that will stay with us forever!' She said. She plans to continue playing lotto. Ithuba CEO Charmaine Mabuza congratulated the winner. 'We're thrilled to see this self-employed South African woman's business ambitions take flight thanks to her remarkable win. We wish her continued success in all her endeavours,' Mabuza said. She urged the second winner to come forward. 'We urge the remaining winner to come forward and claim half of this remarkable lotto jackpot,' Mabuza said.
IOL News
20-06-2025
- Business
- IOL News
Two winners share R78. 9 million Lotto jackpot
iol Two people have bagged the R78,977,677.80 Lotto jackpot from the June 18, 2025, draw. Two people have bagged the R78,977,677.80 Lotto jackpot from the June 18, 2025, draw. According to the National Lottery, each person will walk away with R39,488,838.90. The first winning ticket was purchased through a banking app with a R200 wager using the quick pick selection method. The second winning ticket was purchased at a Day and Night Superstore in Johannesburg, with a R30 wager using the quick pick selection method. Ithuba said the the winner who played via a banking platform has been notified of their winnings by their bank and the operator urges in-store participants to check their tickets. Ithba CEO Charmaine Mabuza said:"This draw not only produced one multi-millionaire, but two. "Both winners will walk away with significant amounts of money that will undoubtedly change their lives." She said the winner service team is eagerly awaiting the arrival of these winners and is ready to help and support them every step of the way. Ithuba said to help winners enjoy lasting benefits from their winnings, Ithuba offers access to certified financial experts who provide valuable financial insights for winners of R50,000 and above. "Our objective is to empower winners tomake informed decisions and secure their financial future, ultimately changing their lives forever through their winnings." All winners have 365 days from the draw date to claim their winnings. IOL News
Business Recorder
08-05-2025
- Business
- Business Recorder
ATIR's landmark order: Senior taxmen face FBR law director's action
ISLAMABAD: The Director Law of the Federal Board of Revenue (FBR) Wednesday initiated extreme action against senior tax officials based on a landmark order issued by the Appellate Tribunal Inland Revenue (ATIR) Islamabad. The order highlighted the poor quality of assessments, which not only erodes taxpayer confidence but also negatively impacts the FBR's performance. In this regard, Director Law and written a letter to FBR Chairman on Wednesday recommending action against involved senior FBR officials. According to tax lawyer Waheed Shahzad Butt, the FBR had previously issued a circular stating that having five assessments reversed in appeal would be considered misconduct. However, the FBR failed to implement this crucial directive except one case where a senior officer was sent to DOT IR for passing accounting and tax laws again. The Director Law has now directed that a report be obtained from the concerned Chief Commissioner. If necessary, instructions will be issued to field formations to prevent such instances from recurring. This development aims to address the issue of frivolous poor assessments and improve the overall performance of the FBR: Waheed added. The FBR directive stated that during the hearing of the appeal in the subject titled case the on the contention of the taxpayer that all the discrepancies pertaining to revenue receipts under section 153(1)(a), contractual receipts under section 153( I )(c) and declared salary expenses were duly reconciled through documentary evidence before the assessing officer which were ignored by the assessing officer and an arbitrary tax demand was created. The Tribunal, to substantiate the appellant's claim provided a complete set of supporting documents with the instruction to verify. Despite repeated opportunities the department did not submit the reconciliation report. The learned DR, the same officer unsupported by any material evidence. Accordingly, the Impugned order is hereby annulled in its entirety, and the tits demand of Rs.43,977,137 deleted. A copy of this order shall he forwarded to the Director General (Legal), Federal Board of Revenue, for information and necessary corrective action to ensure that such instances of high-handedness and procedural lapses are not repeated in the future." 'The above state of affairs not only shatter the confidence of the taxpayers but also reflect the performance of the department in negative. It is, therefore. requested that report from the concerned Chief Commissioner may he called and then if warranted necessary instruction to avoid the recurrence of such instances may kindly be issued to the field formations. Copy of the judgment of the Tribunal is enclosed', Director Law added. Copyright Business Recorder, 2025
