Tax increases in South Africa for 2018

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In the history of South Africa there has never been in an increase in Vlaue Added tax for over 10 years ,not even once!Things are are changing since the appointment of the newSouth African president Cyril Ramaphosa.So the question is;is this a good thing or a bad thing?

According to the announcment of the Budget speech by Minister of Finance Malusi Gigaba, VAT is now 15 % ,sintax has also increased,General fuel Levy and Road Accident Funds meaning 52 cents per litre of fuel will go to tax.Child support grant has also increased to R 400 and possibly R 410 by the end of October.

While this may seem like it is going to incovinience most citizens I think that it is a  good idea because it might not be really helping everyone individually but it will help the country as a whole.There will be lots of revenue generated form the increase of tax and it will help South Africa in International trading indirectly.So in conclusion in the long run we will all see how this is helping the country.

Title: Malulisi Gigaba announces an increse in sin tax

Source:Sowetan live

Link: https://www.sowetanlive.co.za/business/2018-02-21-gigaba-announces-an-increase-in-sin-tax/

Comments

  1. Unknown2 March 2018 at 04:12

    The increase in Value Added Tax for me is a good thing and I don't think it will affect people negatively as the social grant has also increased.

    ReplyDelete
  2. Unknown2 March 2018 at 04:21

    VAT increase is actually a bad thing because this means food prices will also go up, and the other things like fuel. what about those who were not affording when the VAT was 14% this increase will make their lives more difficult now. Government must think of something else that boost the economy that will accommodate us all.

    ReplyDelete
  3. Unknown2 March 2018 at 07:08

    Well I think an increase in VAT is not bad...Yessss poor people will suffer the most 'cause VAT applies to everyone , no matter how little is your salary... but Let's be blunt about this that money will do a lot of things and before they made that decision they actually evaluated its returns, and they are quite good tbh....we can't really see it's benefits rn but they good if you really understand the motives of that increment.

    ReplyDelete
  4. Unknown2 March 2018 at 11:00

    This is actually a disadvantage to poor people because now they have to pay more for the things they buy..Sure the grant has increased but that does not make a difference

    ReplyDelete
  5. ceeyakayone2 March 2018 at 14:33

    It is a good thing for people who depend on their grandparent's social grant since it will also increase.

    ReplyDelete
  6. Unknown2 March 2018 at 23:31

    The increase of tax will actually help our economy to grow once again. Maybe that will attract international business people to be interested in doing business with our country and that can create business opportunities.

    ReplyDelete
  7. Nonopha Maquthu3 March 2018 at 02:58

    Oh! So they increased VAT and decided to blind people by increasing the social grant, they think they're clever but that doesn't make them right... we all know that this is a bad thing

    ReplyDelete
    Replies
    1. Unknown3 March 2018 at 20:01

      Funny hey! I think they are trying to balance somethings so it is important to always hope for a better thing that might happen based of this Action. "At times"

      Delete
  8. Unknown3 March 2018 at 03:08

    I really support the increase of VAT since I believe that it will improve the economic growth in many ways.

    ReplyDelete
  9. Unknown3 March 2018 at 03:09

    I really support the increase of VAT since I believe that it will improve the economic growth in many ways.

    ReplyDelete
  10. Unknown3 March 2018 at 19:49

    This worries me a lot, more especially about the future. Now the Value Added is literally the Value being Added.

    ReplyDelete
  11. Careforfree4 March 2018 at 10:30

    This is not good for me because my food allowance has not changed yet I`ll be paying more for food certainly not fair

    ReplyDelete

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