Budget 2020: ‘Tito Mboweni will be walking a tax tightrope’ | Cape Argus

Cape Town - Asked if there were any more cows that Mboweni could milk, economist Dawie Roodt said: “There’s not really anything new that can be taxed. We’ve pretty much taxed everything that can be taxed.

“Maybe we’ll see a wealth tax, but this won’t be a short-term solution. In the end Mboweni will probably just increase VAT.” Head of fixed income at Anchor Capital SA Nolan Wapenaar said: “South Africa’s problem is that government is too big. Mboweni can get creative with obvious avenues such as raising VAT by 1%, but that will have unwanted social and political impact.

“He could try to raise personal income tax, but the tax base for that is too low and he cannot afford to alienate that constituency too much, so the minister will probably settle for bracket creep,” said Wapenaar.

Abramjee Stop corruption

Abramjee That expert is right

😏they don't want to tax the filthy rich because they will remove them so they are taxing the poor. The rich are white and the poor are black

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Finance Minister Tito Mboweni should announce a tax on e-cigarettes in Budget Speech | IOL NewsE-cigarette taxation is necessary because e-cigarette use is harmful to health and increases the strain on the health care system and public purse. Taxation should be used on these kind of issues. But not on GORVENMENT spending. GORVENMENT spemding should be funded by the reserve Bank. Even if they act deaf we will make this msg loud and clear. This narrative is misleading Most people on E-cigarettes have access 2 private healthcare & people on the lower end of the spectrum (loose draws) couldn't be bothered 2 check in2 a public healthcare facility Besides, we lose more people in car accidents than we do 2 cigarettes Agree!!
Source: IOL - 🏆 46. / 51 Read more »

BUDGET ANALYSIS: Tito Mboweni’s tight spot — will it be wage savings or a VAT hike?BUDGET ANALYSIS: Tito Mboweni’s tight spot — will it be wage savings or a VAT hike? 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

Ready to make the most of the budget, Tito?Dear tito_mboweni, savings desires a brave political party but MYANC is a party of cowards, prioritizing a sham party unity at the expense of the state. Half the cabinet shouldn't be there, get rid of all the useless Deputy Ministers, Get rid of all provincial governments!
Source: City_Press - 🏆 7. / 72 Read more »

Mboweni, the budget and a dwindling, disengaged audienceIf the numbers from last year are anything to go by, Finance Minister Tito Mboweni may not have the captive audience he needs on Wednesday.
Source: City_Press - 🏆 7. / 72 Read more »

Mboweni urged to support exporters, entrepreneurs in budget reviewFinance Minister Tito Mboweni's annual budget review should offer concrete measures to boost exports and support small and medium enterprises.
Source: eNCA - 🏆 49. / 51 Read more »

POLITICAL WEEK AHEAD: Budget will dominate the political scene this weekFinance minister to give details about the proposed sovereign wealth fund and announce steps to reduce spending
Source: BDliveSA - 🏆 12. / 63 Read more »