Target the rich, says think-tank
There is no need to raise VAT, rather reinstate the 28% corporate tax rate: IEJ
09 March 2025 - 08:49
An institute that advocates for social reform has urged the ANC to consider increasing corporate tax by one percentage point to 28%; introducing a wealth and luxury goods tax alongside a small financial transactions tax; doing away with pension tax benefits; and suspending medical tax credits.
The Institute for Economic Justice (IEJ) submitted the proposals to a strategic meeting of the ANC caucus after the postponement of the government of national unity’s first budget in February over a proposal to hike VAT from 15% to 17% to cover a R60bn revenue gap...
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