I'm guessing the new wording is designed to catch tablets.85.17 Telephone sets, including telephones for cellular networks or for other wireless networks
Well, yeah, these are the traits of a failed government. Much like the last few kicks of a dying horse. They have no other option and will grab as much as they can - probably not for use in the country, but eventually to line the pockets of cadres before the total collapse comes.Why don't they just take our salaries? Because they tax the **** out of us...
Don't give the commies any ideas.Why don't they just take our salaries? Because they tax the **** out of us...
Unfortunately it doesn't matter how good the economy is as nobody wants to invest in a country where hooligans will trash your shops over a tshirt. Many are saying they had no choice but to increase taxes but it was the worst thing they could do. The correct course would have in fact been to lower taxes and increase tax relief. It might go bad in the first few years with a bigger deficit and more debt but it would have resulted in unparalleled economic growth in a decade or two.The problem with the ANC is that they are now going into a period of a few months in which they hope and pray more investors and businesses would flock to SA and help restoring the economy. From what I have read on a number of business forums abroad, these people are still not interested in SA and bringing their money here. In fact, many are still busy pulling out investments from the JSE while they still can save what they can.
With these type of taxes on the wealthy and businesses, most of the biggest investors and companies are steering clear of SA. The smaller companies also know that the general public are being taxed to an extent that no business would be sustainable in the medium to long term.
In the meantime, a lot more 'wealthy' locals are fleeing the country. If the ANC thinks they had a tax deficit this year, they should just wait and see how big it will be next.
The ANC will realize this in the next 5-8 years and it will be interesting to see what their reactions would be.
Not according to the article, or what am I missing?No they already had a 7% on them
They've always been caught with it as I said in my first post, not sure why it needs clarification.Not according to the article, or what am I missing?
"Ad valorem products include motor vehicles, electronic equipment, cosmetics, perfumes, and other products generally regarded as luxury items.
However, Gigaba said this list will now include smartphones."
There's local equivalents because the items are taxed, they're not protection taxes but "luxury goods" taxes.Electronics used to be taxed but not at the full rate except if there were local equivalents.
So what you're saying is that South Africa once again can't compete on the international front and need these taxes for protection essentially.They've always been caught with it as I said in my first post, not sure why it needs clarification.
There's local equivalents because the items are taxed, they're not protection taxes but "luxury goods" taxes.