JOHANNESBURG – South Africa’s economic woes have impacted the SA Revenue Services , who are finding it difficult to meet its targets for the collection of tax revenue.
With little prospect of collecting what is needed by the state for the delivery of services to South African citizens, the prospects for the country’s future look bleak. The words: “For a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle,” by Winston Churchill come to mind.
Experts have said that it might be tempting just to tax high income-earners even more, but this would come with significant risks. If these people feel that they are being targeted by the taxman, they might choose to leave the country or to take their money elsewhere. This would result in a loss of skills when talented individuals leave, the closing of businesses, and consequent job losses.
Dubai taxes mineral wealth (this would include exports like oil, coal, manganese, etc) at close to 80%. Why are poor people on this Twitter thread defending rich billionaires' tax crimes?
Dream on. It's the ANC in charge and they're obsessed with taxing 'the rich'.
And who is then paying for the parasites ?
Tax breaks on solar energy for private individuals would boost local solar market significanctly.
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Source: SABC News Online - 🏆 32. / 51 Read more »