Government stealth tax to fund ailing Eskom – MPIYAKHE DHLAMINI
Officially, for the 2019/20 financial year, government will not be increasing income taxes. The only taxes set to increase are the indirect taxes: fuel levies, excise duties on alcohol and cigarettes, and the new carbon tax coming into effect on 1 June 2019. With these increases government estimates that it will raise an additional R1.2 billion.
Yet, government’s plan is to raise an additional R15 billion in the coming financial year, mostly to fund the R23 billion a year set to be handed over to Eskom over the next three years. So where will the other R13.8 billion in planned increases come from?
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Publish date: 27 February 2019 Views: 107
The views expressed in the article are the author’s and are not necessarily shared by the members of the Foundation.