Why South Africa should have hiked VAT to 16%: expert

[BusinessTech]

Why South Africa should have hiked VAT to 16%: expert

The latest budget statement painted a clear picture of the past mistakes that will continue to haunt South Africa in the coming years, say experts.

 

[Kosmik]

Why South Africa should have hiked VAT to 16%: expert

The latest budget statement painted a clear picture of the past mistakes that will continue to haunt South Africa in the coming years, say experts.

How about effectively managing and using the tax you have first before asking for more!

 

[Gaz{M}]

How about we do VAT only at 25% and no income tax?

 

[Quest10n]

How about we do VAT only at 25% and no income tax?

It won't be enough no matter how high it goes.

 

[Moosedrool]

It won't be enough no matter how high it goes.

This.

It can be 70% for all I care the ANC will still f@#k it up.

 

[Visser]

Fact is, the economy is slowing down, businesses are scaling down, unemployment are increasing, middle class and upper class are not getting the increases or bonuses they did as before, net-spendable income are down for everyone and therefore consumers will tighten the belt and spend less, which will again have a knock-on effect.

 

[Badprop_za]

The revenue streams is not the problem. It is the usage thereof.

I am still scratching my head with the bailouts provided........how many bailouts will they continue providing?

 

[Visser]

The revenue streams is not the problem. It is the usage thereof.

I am still scratching my head with the bailouts provided........how many bailouts will they continue providing?

Bailouts will be indefinitely on the taxpayers tab. They cannot sell, scale down or liquidate any SOE.

 

[Ho3n3r]

I can think of many reasons why it should've stayed at 14% as well, but that involves good governance and principles.

 

[Cray]

I can think of many reasons why it should've stayed at 14% as well, but that involves good governance and principles.

Yeah that ship has sailed.

 

[Deadmanza]

All these "experts" and their opinions. Rather keep your opinion to yourself.

 

[ArmatageShanks]

All these "experts" and their opinions. Rather keep your opinion to yourself.

People in glass houses

 

[Ho3n3r]

All these "experts" and their opinions. Rather keep your opinion to yourself.

With 10 309 posts, one would expect you to know how a forum works.

 

[Deadmanza]

With 10 309 posts, one would expect you to know how a forum works.

Um, I meant the "Expert" mentioned in the article????

 

[Ho3n3r]

Um, I meant the "Expert" mentioned in the article????

Oh my bad.

 

[Budza]

This.

It can be 70% for all I care the ANC will still f@#k it up.

Let's get to that point then, where the voters realise that...

Short term pain, long term gain?

 

[Frequent visitor]

How about we do VAT only at 25% and no income tax?

That would shift the burden of taxation towards the poorer. When I started work we used to reckon that a direct / indirect taxation ratio of around 60/40 was about right. SARS annual report will tell you what it is here - maybe!

 

[Frequent visitor]

How about effectively managing and using the tax you have first before asking for more!

Mboweni is making some of the right noises, but then so did some others. Making it clear about the wages bill is a good start however. Can he make it stick?
Refusing the budget increase to pay the increase in wages is a start. But public servants every where know how to defuse a lot of that. They propose cuts alright, but where it hurts the public - deliberately.

 

[oober]

Our maid is on R285 per day. She has been asking and hinting at an increase since the beginning of the year. I can't afford to give her more than this already unfortunately, I also did not get any increase now for 1.5 years. She has medical aid we pay for and I'm afraid that the increases in price for that wil eat any cash increase.

I have suggested to her that she might be better of finding work closer to Tembisa but she does not want to hear it.

 

[konfab]

How about effectively managing and using the tax you have first before asking for more!

That is racist and neo-colonial thinking you are showing there. We can't possibly let SAA, the Post office, Transnet, SABC and Eskom die the deaths they desperately need. THINK OF THE JOBS YOU RACIST.