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Taxpayers will feel brunt of Gordhan's whip

By Faeza
24 February 2016

Sars_tax

This afternoon Finance Minister Pravin Gordhan will arguably give the most significant speech of his political career when he delivers the Budget for 2016/17 in parliament.

Economically speaking the odds are against South Africa with record-low growth rates, the worst drought in history, and an unsustainable debt to GDP ratio, to name but a few.

Therefore something has got to give and this “something” will most probably take the form of individual tax hikes.

“The inevitable conclusion is that the only place a finance minister can look for additional revenue would be individual tax, or a wealth tax,” says Eugene du Plessis, director and leader of tax at Grant Thornton.

Fin24 has more details.