The minibus taxi industry contributes only around R5 million in annual company tax, Finance Minister Tito Mboweni confirmed this week.
In a written answer to a parliamentary question from the DA about the industry's company tax contribution, Mboweni said that this amount includes tax collected from taxi employment income. , according SA Taxi, the largest finance provider to the industry. Some 69% of local households use minibus taxis.While the R5 million they contribute in company tax is minuscule by comparison, they do contribute billions to tax in other ways. According to SA Taxi’s estimates, minibus tax owners pay an estimated R1 billion in VAT on vehicle sales every year, as well as R7 billion in fuel levies.
Fin24 R5 000 000 000 industry, 200 000 taxis, employ 300 000 taxi drivers, 100 000 marshals, 150 000 vendors. That is not even minimum wage per taxi per year. I would just shut up if i was the finance minister. They pay enough due to fuel levis, vat on personal expenses etc.
Fin24 Well sorry tito_mboweni you can provide people with a cost effective public transport system. The taxi industry is actually one of the only working mechanisms that work. Its not like a taxi boss gross millions. 5 bill devided by 200 000 taxis, gross 25k per taxi per year.
Fin24 NGEKE bayinuke eyamatekisi. 🤣🤣🤣
Fin24 Only few make money ... if they maintained those scraps and formally paid drivers, many would hesitate to remain in that business.
Fin24 Lots of people aren't paying especially taxi owners...correct me if I'm wrong
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