Ramaphosa proposes 15.5% to 16% VAT

Hanno Labuschagne

Hanno Labuschagne

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Ramaphosa proposes 15.5% to 16% VAT

President Cyril Ramaphosa has proposed hiking value-added tax (VAT) by between 0.5 and one percentage point in the country's 2025/2026 budget to resolve a dispute in the Government of National Unity (GNU).

City Press reported that government sources said the compromise was tabled during a Cabinet meeting last week.
 
I remember when this shyte kicked off in 1978. The then Finance Minister, Owen Horwood brought in a 4% General Sales Tax (GST) and promised it would never be raised. It soon went up.

The ANC changed GST to VAT, a far more insidious tax that is from cradle to grave for a product.

It's time for a tax overhaul in SA. There are taxes on taxes as well. Razor blades (Thanks Trevor Manuel) and tyres have a hidden tax and the buyer pays VAT on those taxes.
 
How about proposing an end to the corruption & mismanagement of an entire country you absolute garbage excuse for a human - you and all your ANC cadres. It's like they were born without any positively oriented moral faculties.
 
They really don't want consumers to have anything. Businesses don't absorb VAT.

We aren't a rich nation, so I can't condone this. The leaders would rather look to punishing ordinary people than cleaning their own house.

Even since Alan Winde's position on where the Western Cape must stand, it looked like DA policy. They are going to roll over on this one. Because, hey, it is not 2%; it is 0.5% to 1%.

The ANC is mos now the good guys... /ugh
 
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The government budgeted R35.2 billion to extend the SRD grant for another year, a promise that formed a key part of the ANC’s 2024 election campaign.
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They lost the election, now we have to pay for the budget shortfall? The ANC can send Naledi Pandor to Iran with a begging bowl to fetch it again.

The DA is not opposed to keeping the grant but has proposed it be converted into a Job Seekers’ Allowance for those actively searching for work.
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Jirre DA! How are you going to administer this with the already massive fraud in the SRD grant?

Sars commissioner Edward Kieswetter has repeatedly appealed for additional funding to improve the agency’s tax collection capabilities.
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And puts out disinformation of how well SARS is doing by using AI to nab tax dodgers.

Sars modelling predicted that it could collect R450 billion to R460 billion extra if it received funding to modernise its systems.
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I know i've been told not to keep reading X but man the comments...

Someone claimed the VAT has to be increased because of what the "West" and "Trump" are doing to South Africa so it has nothing to do with our Gov, its all the West's fault...

And it has like >2000 likes!!! wth lol.
 
Enzo Matrix said:
Increase it to 20% and remove the excempted items.

Let the masses feel it.

Only way to stop this slow boiling death we have with the fking anc
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Singapore has no natural resources but is an international powerhouse. Here are its income tax rates:

Resident individuals are entitled to certain personal reliefs and deductions and are subject to graduated tax rates ranging from 0% to 24%. Non-resident individuals are not entitled to any personal reliefs and deductions and are subject to tax at a flat rate of 24%. As a concession, employment income of non-residents is taxed at the higher of a flat rate of 15% or the graduated resident rates with personal reliefs. This concession does not apply to non-resident directors.

taxsummaries.pwc.com

Singapore - Individual - Taxes on personal income

Detailed description of taxes on individual income in Singapore
taxsummaries.pwc.com

Texas has no income tax and only General Sales Tax at a maximum of 8.23%::

Texas has state sales tax of 6.25%, and allows local governments to collect a local option sales tax of up to 2%. There are a total of 966 local tax jurisdictions across the state, collecting an average local tax of 1.711%.

Combined with the state sales tax, the highest sales tax rate in Texas is 8.25% in the cities of Houston, Dallas, San Antonio, Austin and El Paso (and 1097 other cities).


On the Island of Jersey, which only has cows and dairy products but is one of the richest countries, the maximum income tax is 20%:

Individuals who are resident and ordinarily resident in Jersey are liable to Jersey income tax on their worldwide income; however, individuals who are resident but not ordinarily resident in Jersey are taxed on Jersey-source income, and overseas income is subject to tax to the extent that it is remitted to Jersey.

Tax is payable at the rate of 20% on net income after allowances.

taxsummaries.pwc.com

Jersey, Channel Islands - Individual - Taxes on personal income

Detailed description of taxes on individual income in Jersey, Channel Islands
taxsummaries.pwc.com

What is SA doing wrong?
 
Cosmik Debris said:
What is SA doing wrong?
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The politicians are corrupt and inept.

While recently it's probably not the case because the ANC has frankly spent it all, but there was at the time the ANC took over, plenty of money to fix the country's problems. It was just a matter of knuckling down and getting the work done. The ANC doesn't much like to work though.
 
If Ramaposer had any balls he'd make it 20%. Without that USAID people are going to die :(
 
Cosmik Debris said:
Singapore has no natural resources but is an international powerhouse. Here are its income tax rates:

Resident individuals are entitled to certain personal reliefs and deductions and are subject to graduated tax rates ranging from 0% to 24%. Non-resident individuals are not entitled to any personal reliefs and deductions and are subject to tax at a flat rate of 24%. As a concession, employment income of non-residents is taxed at the higher of a flat rate of 15% or the graduated resident rates with personal reliefs. This concession does not apply to non-resident directors.

taxsummaries.pwc.com

Singapore - Individual - Taxes on personal income

Detailed description of taxes on individual income in Singapore
taxsummaries.pwc.com
Click to expand...
We should absolutely follow the Singaporean way of doing things :whistling: Remind me again how easy it is to buy and own a car over there?
 
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