Top 5 on Fin24: Ronaldo bid reports send Juventus shares to four-month high, Treasury's VAT panel to look into fuel price hikes and scathing new report slams medical schemes

Cape Town - A roundup of Thursday's top economic and finance reads on Fin24.

Radebe: Renewable IPPs to create over 114 000 'job years'

Renewable independent power producer projects could create over 114 000 "job years", says Energy Minister Jeff Radebe.

He said that only the renewable energy power producer procurement programme (REIPPP) had started.

"Under the REIPPP programme a total number of 112 projects have been procured, and it is envisaged that these projects will create 114 266 job years over the construction and 20-year operations period."

• READ: Radebe: Renewable IPPs to create over 114 000 'job years'

Ronaldo bid reports send Juventus shares to four-month high

Shares of Juventus Football Club SpA surged following reports the Italian soccer club is poised to sign five-time Ballon d’Or winner Cristiano Ronaldo.

The 33-year-old agreed to accept a €30m salary from Juventus, Spanish newspaper reported, saying the clubs still need to reach a transfer agreement.

• READ: Ronaldo bid reports send Juventus shares to four-month high

Scathing new report slams confusing and expensive medical aid schemes

Private health care in South Africa is characterised by ‘disempowered and uninformed’ consumers and schemes that are difficult to understand, according to a major new report by the Competition Commission.

The inquiry started in January 2014, after the commission observed an increase in prices and expenditure in the private healthcare sector.

• READ: Scathing new report slams confusing and expensive medical aid schemes

Treasury's VAT panel to look into fuel price hikes

National Treasury’s panel of experts investigating zero-rated VAT items will also consider the impact of recent fuel price increases, Minister of Communications Nomvula Mokonyane said at a post-Cabinet briefing on Thursday. 

National Treasury in April appointed a nine member panel of experts to review the current list of VAT zero-rated items. Mokonyane said this panel would now also consider the impacts of the fuel price increase. 

• READ: Treasury's VAT panel to look into fuel price hikes

SARS losing billions in tax as cheap cigarettes flood market

Cigarette manufacturer Gold Leaf Tobacco Company (GLTC) accounts for 75.1% of sales below the minimum tax rate and what the National Tobacco Market Study released on Thursday suspects to be illicit trade.

According to the report, the South African Revenue Service (SARS) is losing over R7bn this year to illicit tobacco trade.

• READ:  SARS losing billions in tax as cheap cigarettes flood market