The Minister of Finance cites an average 19% VAT among peers to argue that South Africa’s 15% rate is low, but isolated comparisons miss key factors such as exemptions, corporate rates, and overall business costs.
A comprehensive round-up of the tax proposals affecting individual taxpayers and consumers.
A dip in corporate and VAT revenues has left a R10bn hole in expected tax collections. As the Budget approaches, Treasury faces a difficult balancing act.
The Budget Review suggests that National Treasury does not intend adjusting the tax brackets for at least another two years.
Old Mutual weighs in on how the Budget is likely to affect the country’s credit rating, economic growth, and the capital markets.
National Treasury continues to toe the line between fiscal continuity, consolidation, and declining revenues amid an increasingly stagnant local economy.
Whether the objectives as set out in the Budget are achievable will be determined by the government’s political will to anchor expenditure and put resources to better use.
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