Bernard Sacks News Today

Godongwana endorsed the government’s decision to unilaterally implement a 3% wage increase for all public servants, plus a R1,000 monthly gratuity.

The road to a healthier and sustainable fiscus and economy should not be paved with increases in personal taxes or the current VAT rate, although both these…

Cape Town restaurateur Adrian Hochman watched over the years as friends packed up and emigrated, but rationalised that power cuts, the threat of crime and an uncertain future were simply part of doing business in South Africa.

(Photo by Gallo Images/Jacques Stander) For every high-net worth person who emigrates, an average of R1.2 million in income taxes disappears from the system and the spending, value-added tax and economic activity they generate is also lost, Fewer than 14 million South Africans in the working-age population of 39 million are registered taxpayers and those earning more than R1 million a year pay 40.2% of all personal income levies. The small tax base is a symptom of South Africa’s extreme inequ...