Interesting SA TaX info

[R13...]

this from businessday...

Even if we knew, for example, that the number of registered individual taxpayers grew from 3,4-million to 5,3-million over the past five years, did we know that the top 5% of taxpayers account for almost 45% of income tax? Or that the bottom quarter accounts for less than 1%? Or that men make up 58% of the tax register but pay 70% of the tax?

...........

company tax trends tell of a growing economy, in which the number of companies registered for income tax has nearly doubled to 1,5-million over the past five years, with the number of value-added tax vendors up by nearly 50% (to 745487) over the period. Here too, inequality prevails: three quarters of SA’s corporate income tax comes from only 1,2% of its corporate taxpayers.
...........

The bottom line, though, is that at R572bn in 2007-2008, total tax revenue was more than double the level of 2002-03 and five times the total collected in 1994-95. That tells a story not only of much improved tax compliance but also of much stronger economic growth in the postapartheid period and particularly in the past five years.

 

[gboy]

shows you the country is not as bad as some people make it out to be. rather be here than in the UK now where thousands of jobs are being lost. or the US where they have a state that has to issue IOUs

 

[EtienneK]

Yeah, SA is still quite cozy.

 

[air]

past 5 years - we have had a global commodity bull run which has contributed significantly to that (from a mining company pov and companies that support them)

read an article sometime back that the rise in the ALSI was primarily due to iirc BHP Billiton, Anglo and Sasol.

 

[Sarakael]

shows you the country is not as bad as some people make it out to be. rather be here than in the UK now where thousands of jobs are being lost. or the US where they have a state that has to issue IOUs

32 Million people pay tax in the UK, 5.7 million pay tax in South Africa.

The UK has a total population of 61 Million people, South Africa has a population of 48 Million.

Of the people aged 20 to 65 in South Africa (25.7 Million) only 22% pay tax.

I think the UK would need to lose a lot of jobs to get itself in the situation South Africa is in.

 

[gboy]

yes, but in the UK, those people had jobs so you have the "new poor", here more people did not have jobs to start with "old poor".

The "old poor" does not know what credit cards are , or car finance ect, they have never had the need.

Now in the UK those people who had the jobs, have credit cards, home loans ect, life style ect. so a major shift now has to happen.

This is just my opinion.