Biggest change in car prices in 31 years in South Africa

Lol @ this quote:
“It has never been adjusted for inflation, so a tax designed to catch high-end vehicles now also lands on entry-level cars, a side-effect the original design could not have anticipated.”
Click to expand...

Yes, no one could have guessed inflation would happen!!!!!! Chops. Sounds like the review is not even to adjust it upwards to a reasonable luxury vehicle tax again, from what I could glean from that article they instead want to repurpose it as an additional import tax, making locally produced cars more competitive. Essentially a tariff. Trump level ideas here.
 
Cius said:
Lol @ this quote:


Yes, no one could have guessed inflation would happen!!!!!! Chops. Sounds like the review is not even to adjust it upwards to a reasonable luxury vehicle tax again, from what I could glean from that article they instead want to repurpose it as an additional import tax, making locally produced cars more competitive. Essentially a tariff. Trump level ideas here.
Click to expand...
The purpose of ad valorem was to tax upper-middle class to upper class families, read as mainly the white class at the time. So i.o.w. another racist law. The ANC and their greed however never got the memo the demographics have changed and that even something like an Xbox is now considered basic entertainment. These taxes are now doing nothing except holding the economy back and there should be not a review but an entire overhaul of the tax system under the new governance that's forming.
 
“But progress towards the South African Automotive Masterplan’s 2035 goals has stalled. Production volumes remain off target, and the current localisation rate of 39% falls well short of our ambitions.”

Like reading an ANC elections prospectus - another own goal!
 
IWBIWISI.

No way they'd just let all of that tax revenue go...
 
Exactly, they are NEVER giving away FREE tax money.
Forget making purchasing a new vehicle more accessible by dropping a quite frankly disgusting amount of tax.
Imagine for moment a R1m vehicle suddenly being a few hundred grand cheaper?
Pipe dreams
 
Isn't there some universal law that states that Tax can be created but never destroyed. If there isn't there should be. This tax will survive WW3.
 
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