Nicky Newton-King warns that withholding tax will disadvantage the poor
JSE CEO says the fabric of society collapses when a country enters downgrade territory, so it is time for South Africans to decide how to make a difference
Big business cannot simply refuse to pay taxes to force President Jacob Zuma to resign, as this would break the law and disadvantage the poor, said JSE CEO Nicky Newton-King. "It is not for [business] to pick and choose which laws to comply with. We have to work within the law," Newton-King said in response to a question at a Gordon Institute of Business Science (Gibs) alumni event on Wednesday night. It was not legal to pay tax into a trust account rather than directly to the government and this would also put serious pressure on the poor, as the state would not be able to deliver essential services, such as social grants, she said. SA faced a crisis of political, business and personal leadership and all South Africans needed to take responsibility for the way forward, Newton-King said. Her comments follow the removal of finance minister, Pravin Gordhan and his deputy, Mcebisi Jonas in a late-night Cabinet reshuffle last week by President Jacob Zuma. The political manoeuvring was s...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.