Economists have expressed surprise at the degree to which the economy contracted in the first quarter of 2018. Growth domestic product (GDP) shrank by 2,2 percent to end March – marking the economy’s worst performance in nine years. It is the largest quarterly fall since the second quarter of 2009.[…]
Cosatu spokesperson, Sizwe Pamla says the VAT hike spells disaster for workers, who will now struggle to clothe and feed their families and send their children to school. The implementation of the VAT increase will be a disaster for the low-income working class already living on a hand-to-mouth basis. The[…]
Government is considering to add more basic goods to the list of zero-rated foodstuffs as an attempt to mitigate the impact of a value-added tax hike on the poor. Communications minister Nomvula Mokonyane told the media on Wednesday that the measure was discussed by cabinet at its meeting in Cape[…]
A number of civil society organisations are mobilising against the proposed VAT hike, which has raised the ire of most South Africans. In his budget speech last week, Finance minister Malusi Gigaba announced that a proposed Value Added Tax (VAT) increase from 145% to 15%, with effect of 1 April[…]
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