Tackling illicit trade a quick fix for Treasury’s cash shortfall

Fawu has marched to the Sars HQ to call for a clampdown on illegal TRADE.
Billions of rand can easily be brought into over-stretched-state coffers if illicit trade is addressed with urgency.
South Africans were shocked in October when then finance minister Malusi Gigaba informed the nation in his mid-term Budget speech that a drastic decline in economic growth, coupled with “a sharp deterioration” in tax collections, had led to a tax revenue shortfall of R50.8billion – the largest under-collection since the 2009 recession.

Since then, Gigaba has announced a 1% VAT increase – the first in our democratic era – to try to address the shortfall, before Nhlanhla Nene replaced him as the person holding the purse strings.
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