VAT At 16%

The pigs at the trough want more gravy

Eiiiish we demand more Gravy
 
Nanfeishen said:
WTF are these new by-words being used "International Trends" ?

What has S.A.'s VAT got to do with "international trends" anyway ? Other than an excuse to raise it.

If one goes by that thought process then, can we hope for a less corrupt government more in line with "international trends" ?
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It's a denialist thing, pretending that things are not getting out of hand in S.A. and that we should focus on being like other countries in contrast to our 'awful' past. The same happened with crime stats, i.e. at a stage when crime was increasing (not yet the current rates) it was somehow an achievement to be on par with American stats.
 
Nanfeishen said:
WTF are these new by-words being used "International Trends" ?

What has S.A.'s VAT got to do with "international trends" anyway ? Other than an excuse to raise it.

If one goes by that thought process then, can we hope for a less corrupt government more in line with "international trends" ?
Click to expand...

no, because international governments are more corrupt
 
Instead of building better pastures to get the cows producing more milk they want to turn up the suction and suck more out the cow, how long until it goes dry!
 
diesel said:
Instead of building better pastures to get the cows producing more milk they want to turn up the suction and suck more out the cow, how long until it goes dry!
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I see you missed the point about small business proposals (which is the green pastures you refer to)
 
Nanfeishen said:
WTF are these new by-words being used "International Trends" ?

What has S.A.'s VAT got to do with "international trends" anyway ? Other than an excuse to raise it.

If one goes by that thought process then, can we hope for a less corrupt government more in line with "international trends" ?
Click to expand...
The international trend is also growth trending downwards...

If you tax 20% from the poor, the poor will have less money to buy stuff with. Buying less stuff than optimal is bad for the macro economy. This is so simple a man from the street could figure it out.
 
Going by that excuse, we should raise it more than 16% then we will be ahead of other internationals.
 
An increase in the value added tax (VAT) rate to 15 percent from the present 14 percent would raise a further R18-billion in tax revenues, PricewaterhouseCoopers (PwC) said in a statement on Thursday.

PwC said SA’s current low VAT rate was out of sync with other African countries, where the average rate was 16.2 percent. The average VAT rate in the European Union is 21.5 percent. In 2013 the average rate for Organisation for Economic Co-operation and Development (OECD) countries was 18.9 percent.

“Compared to other emerging markets, SA has the lowest contribution to tax revenues from consumption taxes and the highest from personal and corporate income taxes.”

PwC cautioned that any realignment towards consumption taxes should be done on a revenue-neutral basis after providing support for poor households to alleviate their increased tax burden resulting from increases in VAT.
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PwC also on the international trends band wagon

http://www.enca.com/money/pwc-suggests-vat-rate-be-increased
 
Mike Hoxbig said:
So if we're going to follow international trends, they should be raising VAT and lowering income tax. I'm down with that...
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Sounds like a great idea, but the gravy train has to keep turning so I doubt our income tax will drop.
 
I think its a good idea.. to look at VAT instead of income tax because tax evasion is harder to do then.. even the taxi drivers will have to pay haha.. and this is why it will never really happen especially with the ANC already on a tight string. Basically the minister of finance will have to decide between VAT, income tax increase and income tax without cuts/no change (effectively letting it increase with inflation) . One way or another segments of the populous will be upset and guateng looks like a loss for them in the coming election year no matter which way they go (its gonna effect your pocket)
 
krycor said:
Basically the minister of finance will have to decide between VAT, income tax increase and income tax without cuts/no change (effectively letting it increase with inflation) .
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Our overlords will do all of 'em: VAT increase AND income tax increase AND inflation creep. Basically, anyone with a job and money will be squeezed for more. With the ANC you always get more. ;)
 
Arthur said:
Our overlords will do all of 'em: VAT increase AND income tax increase AND inflation creep. Basically, anyone with a job and money will be squeezed for more. With the ANC you always [-]get[/-]pay more and get less. ;)
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:D
 
Killing the goose that lays the golden eggs
 
VAT is too much of a political hot potato. I don’t think it will change soon.
Expect more tax on Capital Gains.
 
alloytoo said:
If you've commissioned bespoked code for VAT transactions then you deserve what's coming to you.
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Are you seriously suggesting that no bespoke code should be used for anything if it has to calculate a VAT amount at some point?
 
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