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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Treasury News:- Sars shortfall to blame for VAT hike, so we are paying for their incompetency!
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This is what Malusi has to say about the 2018 Budget
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For the first time in 25 years, the South African government will hike up Value-Added Tax (VAT) in a bid to fund the gaping hole in the national budget.
With tax collection falling short by R48-billion, compounded by former president Jacob Zuma’s announcement of fee-free higher
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