The Congress of South African Trade Unions (COSATU) has submitted its input on the proposed amendments to the Revenue and Taxation Laws to Parliament, advocating for urgent measures to ease the financial burden on workers.
This comes after the National Treasury and South African Revenue Service (SARS) published the 2024 draft tax bills and regulations for public comment.
Speaking on VOC Breakfast, COSATU Parliamentary Coordinator Matthew Parks outlined key recommendations, including allowing unemployed workers full access to their pension savings and reducing the tax burden on low-income earners.
Parks highlighted significant concerns not addressed in the draft bills, despite prior government commitments.
“Two main concerns, both of which are not covered in the bills, are the next round of reforms for the two-pot pension system to offer relief to workers, especially those who lose their jobs, and the reduction of the fuel tax regime to make petrol and transport more affordable,” Parks explained.
He also called for expanding VAT exemptions to include additional essential items, a move aimed at alleviating the strain on households.
“The president and ministers, even as recently as July, committed to these changes, but they are absent in the current proposals. We will continue to push for their inclusion,” he said.
“Workers, their families, and communities are in desperate need of support. It is critical that Parliament and Treasury respond decisively to their calls for help,” Parks added.
Listen to the full interview below:
VOC News
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