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'It is a tax that will hurt the poor hardest' #Budget2018

22 February 2018 2:38 PM
Tags:
VAT increase
budget2018
regressive tax
poor people

CSID Research Programme Director Dr Gilad Isaacs says a VAT hike means almost every item purchased will be more expensive.

CSID Research Programme Director Dr Gilad Isaacs says the concern around the VAT increase is around who it will end up targeting and the ability for those sectors of society to afford to pay more.

Unlike personal income tax, it affects everybody equally.

Dr Gilad Isaacs, CSID Research Programme Director

READ: Fault line between DA and EFF: To hike corporate tax or not #Budget2018

Dr Isaacs says the reason more people are concerned about VAT and goods tax is because it has a huge impact on the poor.

The reason we say it's regressive tax its because the poor spend a higher share of their income on VAT .

Dr Gilad Isaacs, CSID Research Programme Director

The VAT increase has been widely critised by labour unions and the opposition parties. Some say the government could have increased corporate tax while other say it should have been reduced.

Catch the full interview below


22 February 2018 2:38 PM
Tags:
VAT increase
budget2018
regressive tax
poor people

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