SARS warns tax collection will be lower
Tax collection will be lower this fiscal year. That’s the warning from SARS as the revenue collector grapples with the impact of load-shedding.
SARS commissioner Edward Kieswetter says the constant power cuts, the rising cost of living and the shrinking tax base are partly to blame.
He says the increased likelihood that people and businesses will try to avoid paying taxes will mean that government’s kitty will fall a few millions short. He was speaking at a PSG Konsult webinar.
Consumers have also had lower disposable income due to higher interest rates and have been spending less, indicating that VAT collection is also set to decrease.
Source: eNCA
In other news – Big Zulu responds to side chick after comparing him to Master KG in bed
Mzansi rapper, Siyabonga Nene popularly known as Big Zulu found himself trending alongside Jerusalema hitmaker Master KG last week after a viral clip from a YouTube podcast show called Omakhwapheni.
During the Thursday, 2 February, episode, singer Nomfundo “Queen Lolly” Shezi name-dropped prominent figures she claimed to have had s.e.xual relations with; including Big Zulu, Master KG, and retired footballer Teko Modise. Learn more
