South Africa: Why Finance Minister Gordhan Should Raise VAT By 2%

19 February 2017

Finance Minister Pravin Gordhan is expected to announce a number of tax increases when he delivers the 2017 Budget speech on Wednesday, February 22.

Although higher taxes on corporates and the super-rich may be popular ideas, they may be detrimental to the economy and raising value-added tax (VAT) may prove a much fairer and quicker way to increase revenue, said Tertius Troost, a tax consultant for Mazars.

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