…Next year, they’re going to have to look at another VAT increase… We still have one of the lowest VAT rates in the world…— Marc Sevitz, TaxTim
Finance Minister Malusi Gigaba’s first Budget Speech is done and dusted.
1% hike in VAT
R85 billion cut in government spending
Hike in the fuel levy of 52 cents a litre
R57 billion – phased in over three years – for fee-free higher education
- Social grants hikes above the rate of inflation
The Money Show’s Bruce Whitfield interviewed TaxTim cofounder Marc Sevitz.
Listen to the interview in the audio below (and/or scroll down for more quotes from it).
The amount available to higher earning taxpayers is less.— Marc Sevitz, TaxTim
It [VAT hike] is genius…— Marc Sevitz, TaxTim
…R1.22 hike on a pack of cigarettes…— Marc Sevitz, TaxTim
A lot of our clients are on the bottom three rungs of the tax brackets.— Marc Sevitz, TaxTim
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