Wealth tax proposed to fill budget gap
The proposal is one option to balance budget after rejection of 17% VAT rate
25 February 2025 - 05:00
Introducing a wealth tax is one of the proposals for a government facing a budget shortfall after coalition partners blocked the Treasury’s plan to raise the VAT rate to 17%, say sources.
The proposal emerged at a special cabinet meeting on Monday, which focused exclusively on the possible amendment of the budget that was slated for presentation last week, said three senior officials aligned to the ANC within the government of national unity (GNU), who spoke to Business Day on condition of anonymity...
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