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LISTEN: Treasury scraps VAT hike,faces R78bn shortfall

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Manage episode 479112883 series 3407343
Content provided by Jacaranda FM. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jacaranda FM or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
National Treasury’s decision to withdraw its proposed VAT hike has left a R78-billion gap in the national budget, forcing Finance Minister Enoch Godongwana to explore new ways to raise revenue and curb government spending.
Treasury had initially planned to increase Value Added Tax (VAT) by 1%, moving it from 15% to 16%, in an effort to boost revenue.
However, the proposal was met with swift public backlash, prompting its reversal on Thursday.
Jacaranda FM news reporter Mmangaliso Khumalo spoke to Leonard Willemse, Director at AJM Tax, for more insight into the developments. Latest news on our website
  continue reading

150 episodes

Artwork
iconShare
 
Manage episode 479112883 series 3407343
Content provided by Jacaranda FM. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Jacaranda FM or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
National Treasury’s decision to withdraw its proposed VAT hike has left a R78-billion gap in the national budget, forcing Finance Minister Enoch Godongwana to explore new ways to raise revenue and curb government spending.
Treasury had initially planned to increase Value Added Tax (VAT) by 1%, moving it from 15% to 16%, in an effort to boost revenue.
However, the proposal was met with swift public backlash, prompting its reversal on Thursday.
Jacaranda FM news reporter Mmangaliso Khumalo spoke to Leonard Willemse, Director at AJM Tax, for more insight into the developments. Latest news on our website
  continue reading

150 episodes

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