Various sectors of the economy, including the motor, mining and tobacco industries, voiced their concerns in parliament on Tuesday over a raft of proposed tax changes by the National Treasury.
Ramawa estimated that carbon taxes will cost the mining industry about R5.4bn annually resulting in further job losses. The motor industry represented by Motus, which imports Hyundai, Kia, Mitsubishi and Renault vehicles together with the BMW Group, objected to proposed changes to the Customs and Excise Act which would require that all customs duty payable on imported goods be taken into account when calculating the value for the purposes of ad valorem duty on such goods. Currently only nonrebated customs duty is used for the calculation.
Savca head of regulatory affairs Shelley Lotz warned that the proposed measure would result in current structures being non compliant and that capital would flow offshore instead of being invested in local small-, medium-, and micro-sized enterprises .
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