Revenue collection hole to blame for VAT hike
Inquiry told revenue shortfall left tax officials largely untouched and their bonuses increased 41%
The true cost of mismanagement at the SA Revenue Service (Sars) was laid bare on Wednesday as Treasury officials blamed it for the first increase in VAT in a quarter of a century. The one percentage point increase to 15% was the centrepiece of former finance minister Malusi Gigaba’s budget in February as the government scrambled to fill a revenue shortfall of about R50bn. If you are already a subscriber, please click on the following link below to go to the full article: ‘Mismanagement at Sars led to VAT hike’ If you would like to subscribe to BusinessLIVE Premiumto read the full story, please click here .
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