Stealthily picking household pockets
Individual taxpayers are set to foot the bill as mining and industrial sector windfalls dwindle
23 February 2024 - 05:03
As the windfall of mining corporate taxes fades into memory, the National Treasury is banking on individual taxpayers to fill the rapidly growing holes in the fiscus.
The South African Revenue Service (Sars) collected R39.2bn less in corporate taxes from the mining sector in the current fiscal year compared with the previous period. Manufacturers paid R5.9bn less while hauliers received a R2.5bn smaller tax bill, according to the Budget Review...
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