The government should increase the VAT rate by at least 5% to reduce the debt burden in the provincial roads’ maintenance account which is now six times higher than the province’s expenditure. Reports indicate that the South African roads, which are in a dire state, are now desperately seeking funds since there is was already..
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Humour has it that ANC regime can reduce SA’s debt burden by increasing VAT to 20% – nobody is keeping pace with the fact that corruption are the cause of state debt
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SARS have found their bite: It’s reported that Commissioner Edward Kieswetter will be chasing top ANC and Bosasa officials, but can he be trusted because Jacob Zuma is on his radar
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After the marathon testimonies delivered at the State Capture Inquiry by various Bosasa officials, it seems like the time for talk has concluded. According to the Sunday Times SARS are now primed and ready to go after the illegal beneficiaries of the security services’ bribery operation, and Jacob Zuma could well be on their hitlist…
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Parliament confirms that there will be no VAT reduction for three years
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Anyone hoping for a VAT reduction in the near future – all of us, really – will be left disappointed following Tuesday’s decision.
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At last some good news for motorists: Why car services are likely to get cheaper
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Petrol prices have got us in a slump: But here comes the Competition Commission, with their proposals to shake up how car services work.
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Chaos at Sars IT, the overhaul will cost R1bn to fix, but it is now on hold!
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A global advisory firm’s overhaul of the South African Revenue Service’s (Sars) modernisation and digitisation programme was not worth the hundreds of millions spent, according to Sars officials testifying before the Nugent Inquiry.
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SARS financial position is in a state of total chaos due to corruption, now the entity is seeking tax evaders to restore the disastrous situation
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SARS intends to find 300 000 companies for non-submission of their tax returns. More than 500 000 new companies were registered in the past financial year, of which the vast majority did not submit returns. With this effort, SARS aims to promote its income. Experts say it’s going to be an uphill battle for SARS..
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Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
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Treasury would not have needed to increase value added tax (VAT) by one percentage point to 15% in April if not for the revenue shortfall at the South African Revenue Services (SARS), deputy director general at national treasury Ismail Momoniat told the Nugent commission of inquiry on Wednesday.
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