The clock is ticking down towards the expiry of the Covid-19 social relief of distress grant, but given the political pressure on President Cyril Ramaphosa to retain it in the face of extreme poverty and joblessness, it is likely to be made permanent in the 2022 national budget in February.
This means higher taxes for, well, just about everybody. Specifically, South Africans should brace for a two percentage point across-the-board increase in personal income tax in the coming budget...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
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The quickest way to destroy the tax base. Cash business and rampant tax evasion become the norm. Emigration of the skilled and high earners - the stupidity and desperation of the ANC can’t be more evident. Instead of stimulation they would rather strangle the economy VoetsekANC
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