A tax on luxury goods as an alternative to the now-scrapped VAT hike or the recently increased fuel levy, as proposed in some quarters, would be unlikely to generate substantial revenues.
This is according to Michael Zahariev, co-founder of the pre-owned luxury goods retailer Luxity, who spoke with Business Times recently about the luxury goods resale sector. His remarks come after the National Assembly passed the third budget to be drafted by finance minister Enoch Godongwana this year...
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