Possibility of 20% decrease in SA tax revenue this year – Sars
This is according to the commissioner of the SA Revenue Service, Edward Kieswetter.
The taxman has warned that the combined impact of a slow economy and the lockdown could amount to a loss of up to R285 billion in tax revenues this year.
This is according to the commissioner of the SA Revenue Service, Edward Kieswetter, who was quoted by Fin24.
Kieswetter was briefing a joint meeting of two parliamentary committees on Tuesday.
“Whilst it is early days, our revenue losses could be peaking at between 15% and 20% lower (than projections). That translates to a revenue loss of up to R285 billion.
“That is a function of the sluggish economy, but also the impact of lockdown,” he said.
For perspective, a loss of R285 billion would be larger than the almost R230 billion allocated to health services in 2020.
Kieswetter said the loss of jobs would have a dramatic impact, and many jobs would not be regained.
“It takes 100 businesses … to create one successful business. So for every one we lose, we will have to have a hundred if not more entrepreneurs to take the risk [to start a new business].”
He also said he had clear evidence the illicit economy was thriving.
Illegal cigarette and alcohol sales have taken off since they were banned at the beginning of lockdown.
In other news – Hot! Video – Uzalo actress Nyalleng Thibedi aka Zekhethelo modeling
Actress Nyalleng Thibedi took us by surprise after coming across a video from her Instagram platform, where she can be seen modeling. We didn’t expect such excitement after watching the video, she really killed it and for a second we thought maybe she has a degree in modeling. Lol!
She shared two videos of herself doing the modeling in slow motion, we wonder how many more other talents she is hiding from us and hasn’t revealed yet. She has proven to be a good dresser, possesses brilliant acting skills, beauty lives by her, and now we wonder what’s next, damn we love her. continue reading
Source: The Citizen
