New report says a VAT hike to 17% could fund a basic income grant in South Africa; SARS says you need to hit tax deadlines despite office closures and delays due to the ongoing strike; a weekend blitz by the Department of Employment and Labour nails dozens of companies; and Ramaphosa suffers a blow in KZN as pro-Zuma supporters sweep the province’s elective conference.
A new report by Intellidex and South African business groups says that the ‘least bad’ option to fund a basic income grant in South Africa would be through another VAT hike, with the authors suggesting that 17% would be the figure needed. This would add another R50 billion to the fiscus, which would be enough to support the grant. Economists and analysts widely accept that a basic income grant will become a reality in South Africa, but the debate on funding rages on.
says South African taxpayers still have to fulfil their tax obligations on time, despite 30 of the revenue service’s offices being closed due to strike action. admitted that the strike was causing some delays, but it does not need to extend any deadlines yet. Provisional taxpayers must file their first estimation for the 2023 tax year and make a payment by the end of August. Non-provisional taxpayers must file their annual returns by 24 October.
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