LETTER: Cost negates levy benefits
Why do we continue to hand over R50.3bn in taxes to the SA Customs Union when we collect only R52.7bn on customs duties?
Perhaps a financial boffin can explain to me why we continue to hand over R50.3bn in taxes to the SA Customs Union when we collect only R52.7bn on customs duties and R61.3bn on trade and transactions taxes. Government should do business a big favour and scrap skills development levies. Though they’re a source of R18.7bn in income, this is completely negated by the R21.7bn cost of skills development institutions. In reality, the cost and effort involved in claiming back some of the skills levies far outweigh the money received. For most businesses — particularly SMEs — it is just absorbed as another handout to government. All our wonderful budgets are ultimately meaningless if we continue to spend more than we receive. You don’t have to be a genius to work that out. President Cyril Ramaphosa needs to become forceful if he wants to turn Brand SA around. Tony BallGillitts
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.