DONALD MACKAY: Export tax on scrap metal shows perils of unintended consequences
The scope has crept beyond the sector to the mills that manufacture steel from the metal
18 July 2024 - 05:00
Imagine that you were taxed 20% on your revenue, and 27% more on any profit you make. Would it encourage you to invest?
This is what happens now with the export tax on scrap metal, only the scope has crept beyond the scrap metal sector to the mills that manufacture steel from scrap metal (https://www.businesslive.co.za/bd/national/2024-07-17-state-sets-its-sights-on-thriving-scrap-metal-black-market/). Policy wonks call it an unintended consequence...
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