Economists have expressed surprise at the degree to which the economy contracted in the first quarter of 2018. Growth domestic product (GDP) shrank by 2,2 percent to end March – marking the economy's worst performance in nine years. It is the largest quarterly fall since the second quarter of 2009. Analysts expect more pressure on consumers for the rest of the year as the effect of April’s VAT hike and […]
Cosatu spokesperson, Sizwe Pamla says the VAT hike spells disaster for workers, who will now struggle to clothe and feed their families and send their children to school. The implementation of the VAT increase will be a disaster for the low-income working class already living on a hand-to-mouth basis. The one percentage point hike in VAT took effect on Sunday. The Sugar Tax also came into effect Sunday. “We do […]
Government is considering to add more basic goods to the list of zero-rated foodstuffs as an attempt to mitigate the impact of a value-added tax hike on the poor. Communications minister Nomvula Mokonyane told the media on Wednesday that the measure was discussed by cabinet at its meeting in Cape Town on Tuesday. Then-finance minister Malusi Gigaba provoked a public outrage when he announced during his budget speech last month […]
A number of civil society organisations are mobilising against the proposed VAT hike, which has raised the ire of most South Africans. In his budget speech last week, Finance minister Malusi Gigaba announced that a proposed Value Added Tax (VAT) increase from 145% to 15%, with effect of 1 April 2018. This is the first time VAT has been raised since the democratic dispensation. The move has prompted an outpouring […]
VOC became the first Muslim radio station in South Africa when a special events license was granted to the station in Ramadan/January 1995. Subsequent temporary broadcast licenses were granted, permitting the station to broadcast for 24 hours.
