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Taxpayers will feel brunt of Gordhan's whip

By Faeza
24 February 2016


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.