Timing is everything, and I can only presume the commissioner of the SA Revenue Services is having nightmares. For him to hear the president promising untold billions in relief while this economic disaster of a lockdown continues, must be like standing on the beach as a tsunami sucks the water back, knowing that the coming wave will be devastating.
April is not where the financial disaster is going to be felt — that is only going to start in May and beyond. It will be then that the millions who did not get paid April salaries by small and medium-sized businesses will start realising that the cupboard is bare.
VAT liabilities incurred in preceding months are not going to be paid, and VAT refund requests are going to become the norm. PAYE remittances are going to be slashed to a fraction of their historic levels. This before the inevitable destruction of profits and normal company tax receipts. The fiscus is going to be bankrupt.
Unless it is the ANC’s intention to create the dependent state their communist puppet masters desire, we need to end this economic disaster now. Open the economy tomorrow — every day is now crucial.
Nigel Dott, Douglasdale
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