💰SARS must meet the Finance Minister's R1.68 trillion revenue target by collecting from gatvol South Africans, crippling businesses at the hands of load shedding, high cost of living and unemployment 🙄 TheCitizenNews Read the story here⬇️
will be delivering his 2023 budget to parliament in two weeks’ time, on 22 February. He has set a revenue target of R1.68 trillion for the South African Revenue Service to collect.
The corporate income tax rate in South Africa was lowered from 28% to 27% a year ago, but it remains quite a tax-expensive country in international terms. OECD countries have a statutory rate of 23.6%.Kieswetter also referred to the normal noise in the run-up to the budget about the introduction of a wealth tax.
“Any contribution to furthering the lack of law and order is part of the problem and not the solution,” he says, adding that tax revenue protects the most vulnerable in society against abject poverty. “It is our democratic principles – not government’s – that will ultimately deliver us the SA that we want.”Kieswetter accepts that the majority of South Africans are “disenchanted” – high up on the “gatvol factor” – with the current state of affairs.
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