tax hikes

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Background

Features

Economist warns of potential backlash over proposed tax hike in Budget speech

As the highly anticipated Budget Speech approaches, economists nationwide are closely monitoring the government’s fiscal direction. Independent economist Duma Gqubule shared his concerns, highlighting last-minute tensions within the government. “There is drama right now. Apparently, they just called an urgent cabinet meeting. The ANC wants to increase taxes, and the DA is saying no. I predict that if they don’t cancel it and announce the tax increase, South Africans must […]

today19 February 2025

Local

Gordhan announces hard-hitting personal tax increases

Finance Minister Pravin Gordhan has announced hard-hitting increases in personal income tax of R16.5bn for 2017-18‚ as economic growth stutters and revenue collection falls short of expectations. These increases are part of a total R28bn package of tax hikes. Tax revenue has deteriorated by a further R7bn since the medium-term budget policy statement in October and is now forecast to be R30.4bn lower than the 2016-17 budget estimate‚ indicating a deterioration […]

today22 February 2017

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