Budget 2021

Don't rely too much on personal income tax, warns commission

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(iStock)
(iStock)

Cape Town – The Financial and Fiscal Commission (FFC) on Tuesday cautioned that over the long term, personal income tax hikes could have a detrimental effect on economic growth. 

Presenting its overview of the 2017 Fiscal Framework, the commission told MPs of the standing committee on finance in Parliament that it should not be a trend to raise personal income taxes. 

READ: Taxpayers foot the bill for the largest revenue shortfall in 8 years 

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