Mboweni under pressure to come up with turnaround plan as VAT collections dip

[Jopie Fourie]

never too late, the only problem is the anc.they have no intention and no abilities to turn this around..

Either way, at least we all know where the country is heading and they should, at least, understand why they are heading into that direction.

 

[D.B.Cooper]

Their socialist anti-business, anti-skills experiment is failing brilliantly as expected.

This stems from the incestuous tripartite alliance with the Commies and trade unions, which will ensure that the economy will never be turned around while they're in charge.

 

[BBSA]

They running out of other people's money, who would have thought this would ever happen

 

[John Tempus]

It is hilarious that these donkeys think increasing TAX on populous means collecting more TAX.

That is not how it works in economics and without explaining it to these donkeys it comes down to one simple thing. If product X cost more for the exact same thing a year ago, more people will stop spending money on product X above the 1% TAX hike = less TAX collected.

I will give them one amazing strategy to generate more spending and in turn collecting more taxes. DROP the tax levies on everything by 1 or 2% and be amazed at how spending will pick up above the reduction in TAX percentage = more TAXES collected.

Drop companies taxes with a clause that they need to use the tax reduction in filling job positions. Companies effectively can hire people this way for free, these new employees will then also contribute to the tax system. It is essentially a free solution to stimulate job creation and tax collection via new employee spending.

Donkeys in control of our finances.

 

[BBSA]

https://twitter.com/i/web/status/1176466841461501952

 

[nightjar]

Considering the large numbers of people of all colours who have fled the country, the absence of their VAT must have left a dent in ANC thinking and plans for future larceny.

 

[Moto Guzzi]

Ok, this is similar as to how diesel engines selfdestruct, to stop it from exlploding, you have to have the guts to be quick enough to smother it's air-intake quickly enough with the clothes on your body. .

 

[NarrowBandFtw]

Ok, this is similar as to how diesel engines selfdestruct, to stop it from exlploding, you have to have the guts to be quick enough to smother it's air-intake quickly enough with the clothes on your body. .

must admit the thought of smothering every ANC cadre piece of shyte's "air-intake" is quite a pleasant thought

 

[Vrotappel]

the only way to increase tax revenue is to reduce taxes.

sound ridiculous, stupid people never understand what is logic behind.

That will work in a proper functioning state. In SA we need much more, the list is getting longer by the day.

Instead off reducing the list the ANC keeps on adding to it. In the last 2 years we added NHI and EWC. Sorry ANC those are pipe dreams that if implemented will wreck the country.

We need to deal with BEE, AA, labour laws, policy certainty, etc. Not add to the list.

 

[maumau]

Guvmint says

 

[grok]

Turnaround to what? With Zuma still roaming free this place will never be anything but just another failed African state..

 

[Moi]

Turnaround to what? With Zuma still roaming free this place will never be anything but just another failed African state..

The correct term is A ZOO.

 

[RyanPCMR]

The phrase "turnaround" seems to be the new buzzword for these ANC politicians. LOL!
Would love to know where they were headed towards before they started to plan for a "turnaround"?

 

[yebocan]

in the meanwhile :

The Treasury said on Tuesday 24 September it had raised $5-billion, a billion more than initially offered, from the sale of a pair of international bonds – one for 10 years, the other for 30 years. The transaction was 2.7 times oversubscribed, meaning almost $11-billion in bids were made, underscoring surprisingly robust investor appetite for South African debt. The Treasury statement added that the issuance was “believed to be the largest ever out of sub-Saharan Africa”.

BUSINESS MAVERICK: Treasury pulls rabbit out of hat with $5bn sale of two international bonds

South Africa’s Treasury has issued a pair of international bonds to the tune of $5-billion, the largest such transaction out of sub-Saharan Africa. It’s a vote of investor confidence that Finance Minister Tito Mboweni can do with ahead of his medium-term budget speech in October and a looming...

www.dailymaverick.co.za

 

[pb41]

Good luck to the Government (and the investors) when these loans are repayable in US Dollars in 10 years and 30 years time. The word "default" comes to mind.

 

[ProfA]

The correct term is A ZOO.

First I liked your post. Then I removed my like after giving it some thought as zoos are run MUCH better than this here shthole.

 

[rrh]

Tsek wena! What type of logic is this?

Reaganomics

 

[Mista_Mobsta]

in the meanwhile :

BUSINESS MAVERICK: Treasury pulls rabbit out of hat with $5bn sale of two international bonds

South Africa’s Treasury has issued a pair of international bonds to the tune of $5-billion, the largest such transaction out of sub-Saharan Africa. It’s a vote of investor confidence that Finance Minister Tito Mboweni can do with ahead of his medium-term budget speech in October and a looming...

www.dailymaverick.co.za

10/10 for treasury.

Let's create more sovereign debt whilst our currency remains under pressure with little hope of seeing USD/ZAR 13.00 again.
Ask Zambia how much sovereign debt helps the country when your currency implodes.

The ONLY solution to our economic woes is to disband the unions and have accountable leadership that isn't continually dividing SA according to racial politics.

 

[dj2381]

Reduce company taxes = better salaries for employees = employees spend more = more VAT collected on general goods

Reduce Income Tax for employees = employees have more money to spend = more VAT collected on general goods

 

[Tovad]

https://twitter.com/i/web/status/1176466841461501952

Should add:
Tell pensioners their pensions are safe - he can't
Tell savers theirs savings are safe - he can't

the latter after the SARS IT3b database merge fiasco...