SOUTH AFRICA’S TAX PSYCHOPATHS TO DELIVER YET ANOTHER DEVASTATING VAT BLOW TO AN ALREADY OVERTAXED NATION

 

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Article posted  by: White Nation correspondent Potchefstroom  February 01  2017

 

 

SOUTH AFRICA– THE GLOBALIST’s  COMMUNIST WASTELAND DOWN SOUTH

 

SOUTH AFRICANS will be expected to carry the burden of a corrupt government’s incompetence , ineptocracy and maladministration  again if Malusi Gigaba has his way. Economists said yesterday that South Africans should brace themselves for an increase in VAT next month as the National Treasury scrambles to meet the revenue shortfall announced in the medium-term budget.

One economist said spiking VAT by 2 percent could net R48 billion in revenue. Sandy McGregor, a manager of the Allan Gray Bond Fund, said raising VAT was the only “viable option ” because personal tax rates had reached levels where further increases would not significantly boost revenue. “An increase in the VAT rate from 14 percent to 16 percent will generate an additional amount of about R48bn, which should be sufficient to stabilize the nation’s finances. “Such decisive action will improve investor confidence and promote capital inflows, which will stabilise the rand and reduce the interest rate payable on new debt,” McGregor said.

 Finance Minister Malusi Gigaba said last week that tough decisions would have to be made to stabilize the country’s debt. In his maiden medium-term budget policy statement in October, Gigaba said the country was facing a tax revenue shortfall of R50.8bn for the 2017/18 fiscal year – the biggest since the 2009 recession. The shortfall was projected to be R69.3bn for the 2017/18 financial year and R89.4bn for 2019/20.

Izak Odendaal, an investment strategist at Old Mutual Multi-Managers, said that because tax revenues had grown slowly, tax rate increases, including an increase in VAT, were likely. “If the economy surprises on the upside, tax revenue collection should also improve and limit the need for tax rate hikes. This is the tricky balancing act the Minister of Finance will have to follow: hike taxes too much and you might hurt the economy and end up getting even less tax revenue,” he said.

Joon Chong, a partner at Webber Wentzel, said increasing the VAT rate would have a profound impact on all South Africans – the poor and working class in particular. “We submit that increasing the capital gains tax rate or VAT, or introducing a form of wealth tax, will further impede the growth of the South African economy,” Chong said.

However, McGregor said there were ways to mitigate the impact of a VAT increase on the poor. “Theoretically, a consumer whose entire expenditure is spent on VAT-able goods will suffer a 2 percent increase in their cost of living. A simultaneous 2 percent increase in grants would cost about R3bn a year and would protect the poorest against the cost of a VAT increase.”

 

SOURCE:

https://www.iol.co.za/business-report/economy/south-africans-should-brace-for-a-2-vat-increase-13008653

EDITOR’s FOOTNOTE:

( Amazing how this corrupt incompetent ANC regime simply blunders on in their quest to financially destroy South Africa. The question must be asked how this shortfall in revenue happened in the first place? Some of the reasons are:

 

  1. Too many whites were driven out of the job-market-replaced by a racist anti-white regime that rather preferred too many non-paying uneducated appointments-  thus the destruction of the middle-class tax generator become imminent. This left only the poor, the leeches- and the ‘elite.”  Lesser tax were submitted to the Revenue Service-
  2. Too many illegal aliens from Africa, Pakistan, India, China, Saudi Arabia, Nigeria, Sudan, etc entered the country- non paying leeches that does not contribute a single dime to the tax revenue- but in contrast- taking money out of South Africa and  leeching on the social services- a cake that only was so big for so many beneficiaries- which  now became an expensive swamp that requires more and more from the budget to sustain than revenue flowing in-
  3. Irresponsible “investments” by the ANC regime and Revenue Service into questionable ventures such as the Gupta cartel , Russian Nuclear program- and Columbia drug ventures-
  4. Too many lenient ” free-bees” by the current communist regime such as free water, grants, free sanitation and  free electricity to the ever growing millions of illegal non-tax paying squatters flooding across the borders into preliminary black areas to kiss butt for votes during elections-
  5. Too many incompetent and overpaid cadres running the revenue service-
  6. Too much funding wasted on useless parties, celebrations , gatherings and meetings-
  7. Too much money wasted on uncontrollable payments of tenders to  unreliable  ” contractors” (mostly family related) that never comply to the tender requirements as well as charging far too much ( like R 300 000 for a single torch) for services rendered if rendered at all-
  8. Too much corruption and money laundering in tender processes-
  9. ANC- orchestrated stealing and selling of South Africa’s mineral and oil deposits at garage-sale prices-
  10. The deliberate exclusion and exemption of tax returns from the  million-dollar generating industries such as the black taxi industry and illegal street vendors that does business strictly cash- and NO tax returns ever were/are filed by taxi drivers or vendors- and not one single dime goes towards the tax coffer-
  11. The exemption of yet another billion dollar industry- the Chinese “China Towns” and shops , Nigerian and Pakistani cell phone shops and hair saloons that also only work strict cash– and therefore do not pay a single dime to the state coffers as well- but enjoys all the social benefits legal taxpayers enjoy. When will we see legislation that force you to produce your valid TAX number as well to be able to enjoy  any benefit or free service from the state,- like medical,  hospitals, social grants, free water, electricity, schools, etc? That would eliminate thousands if not millions of illegal leeches from taking your space in ques in hospitals, clinics, schools etc – as well as lighten the burden on social welfare and be able to have  enough supplies for valid tax paying citizens-
  12. The incompetent cadres operating in prime government positions that- on a continuous basis- become corrupt and steal money from the state coffers- or live an exuberant life-style while unnecessary wasting tax payers money without being prosecuted-
  13. Too many white Afrikaner traitors and “agents” on NI slush-fund royalties to fish out the ” white supremacists”-
  14. Uncontrollable lost of state assets such as guns, vehicles and state property by incompetent cadre criminals-
  15. Unnecessary wasting of tax payers money by paying exuberant salaries to cadres on crime related suspensions, court cases , bogus charges, police brutality claims , class action suits, boards of inquiry , commissions of inquiries, and expensive legal teams-
  16. Unnecessary wasting of tax money on incompetent parastatals such as SAA, ESCOM, Post Office and Transnet to continuously help them out of financial disasters-
  17. Corruption within the government due to tender corruption, money laundering, exuberant salaries for “brothers and sisters”, Nkandla-style thievery, luxury cars, unnecessary spending on expensive flights, 5 star hotels, food accounts, holidays , etc-
  18. Incompetent ANC card-waving cadres in positions of state departments who do not have the credentials or experience to be in such positions- but receive exuberant salaries and royalties-
  19. Failure to stimulate the economy by introducing lower taxes and promote micro businesses to generate more taxes-
  20. Too much money wasting on useless entities like the kings, the tribal headmen and rural leaders that does absolutely nothing for the country- and pay no taxes at all-
  21. Continuous union strikes and service delivery related riots that destroy the economy and drain the state coffers every year more and more as companies close down and investors flee-
  22. Insufficient and incompetent control over state assets-
  23. Tribal-like governance methods and preferences-
  24. Too many and unnecessary appointed high profile cadres, MEC’s and department heads that draw huge salaries-
  25. Bribes and sell-outs of South African assets like mines and land to foreigners that do not contribute to the state coffers-
  26. Introduction of foreign manufacturing companies that are destroying the South African own manufacturing environment- leading to job losses and thus the loss of extra revenue for the state coffers-
  27. Draconian laws and taxes against local and foreign investing companies-
  28.  High uncontrollable crime rate and poor legislative actions that drive investors away.
  29. Uncontrollable birth rate among Africans that place a huge burden on the social expenditure-
  30. Too many “ministers” and “deputy ” ministers sleeping in parliament – doing absolutely nothing but wasting much needed funds-
  31. Too much irresponsible “donations” to blood-sucking countries like Zimbabwe and Swaziland-
  32. Disconnection of the South African Reserve Bank- a private foreclosed company- from dictating the South African financial matters-
  33. Allowing banks to run rampant with their loan-sharking business and high interest rates that causes collateral damage to the GDP-
  34. Too much secret wasting of money into private armies, black youth leagues , jobless blacks and clandestine “slush fund” operations by the National anti-white intelligence operators. This is but a few reasons why the state coffers now are running into a deficit. 

 

I followed a guy who kept coming out of this MUNICIPAL building. This is what I found. Guys, please hit share. Let's show South Africa what Makana Municipality is doing.

Posted by Grahamstown: The Magic on Wednesday, January 31, 2018

THIS IS ONE EXAMPLE HOW THE SOUTH AFRICAN COMMUNIST REGIME RUNS THEIR MONEY-WASTING OPERATIONS- AND YOU ARE TO BE EXTRA TAXED FOR…..

MAYBE this incompetent bunch of terrorizing ANC hooligans should address matters relating to the willful and unnecessary loss of revenue instead of trying to tax the remaining working class public into poverty. As you can see- if this incompetent kleptocrats had a single brain cell to share between them and applied stricter measures and better governance to curb the parasitic culture among themselves and their “electorate”- millions and millions of dollars could be saved and excessive tax hikes will not be needed. Also we could see lost revenue from all this taxi drivers, Chinese shops, illegal “immigrants”, tribal chiefs, kings  – and God knows who else to start paying their share as the rest of us do as well. Out of an estimated 60 million people in South Africa there are only an estimated 13 million registered tax payers and about 8 million active tax payers that have to carry the burden of the rest of the devious blood-suckers that live of free food tickets!  And still the illegal parasites keep on flocking in across the borders at a staggering rate of about 5000 per week! This is a disastrous recipe for a total financial and structural implosion. But all these political swines appear to be good at  is handing out “free bees” to black leeches-  and shout “racism” to white tax payers instead of concentrating to govern the country! But then again what COULD you expect from a bunch of ex-cons?

 

Think of it- when the traffic cop pulls off a taxi driver- he then ask for the driver’s valid drivers licence, PDP AND valid tax income registration number!! Think if inspectors can round up all these illegal vendors lining up on the streets of our cities- and ask them their tax registration numbers!! Think of this illegal Chinese , Nigerians, Sudanese and Zimbabweans also now have to start paying their taxes!!  Just think of the extra millions that suddenly will start to come into the state coffers which in turn could lighten the burden on the rest of the poor taxpayers that now have to carry the weight of all these “free-bee” leeches on their backs! AND think of it how fast these bloody vultures will leave the country in droves once they get slammed for tax evasion! South Africa quickly will become a more livable land as these illegal tax criminals start to depopulate the country again!

The problem is that the current ineptocrats in control do not have the brains or means to control this vast majority of devious tax evaders– and secondly- have this brutal nepotistic and hippocratic attitude when it comes to taxing the black voter. Now they just keep on f*cking up the small remnant group of registered tax payers in order to support their own incompetent over populated blunders.  A VAT(which any case is an illegal taxation method)- increase of only 2% will have the following effect:

Example:

John Doe works for a company. John earns- lets say R 8000.00 per month. Now when John gets his salary- immediately John is taxed 9% of his earnings- R 720.00- leaving him with R 7280. Now John have to purchase his groceries, put in petrol, etc- which then gets another taxation onto it- 16% VAT. Thus R 7280 x  16%= R 1164.00 that again gets ripped from John’s hard earned money. Thus now John are left with R 6116.00. From this John must still pay fuel levies, City Council rates and taxes, service deliveries, – and his transport for the month. All in all John will be left with approximately R 4500.00 of his hard-earned R 8000.00 salary as a living income as John technically will only have R 4.00 value for himself from every R 10.00 he earned .

Bottom – line is John Doe has been working one whole month- sometimes doing hard labor for 22 days- just to see his hard earned money getting sucked out of his pocket and wasted by some half-wit regime goon that has no credentials or responsibility- and will at no stage declare the expenditure for public scrutiny what happened to  the money they stole from John Doe through illegal taxation.When will the irresponsible regime be taken to the sword to also declare their expenditure of tax payers money- and if they refuse- the heads of departments and the chief of the IRS also be thrown in jail like they do with the  normal public for refusal  or negligence to declare the income and expenditure of the state? It’s not their money- it belongs to the tax payer- and as with all companies- the board of directors must declare the financial status each year to the shareholders- in this case the public. Why is it not been done? Why does the public not have access to the government’s income and expenses?

Surely it must be scrutinized by independent auditors- and summarily opened up  in newspapers  or on a special website every year end for the public to see what happened to their “investments.” If they declare say 40 million was allocated for “social welfare”- the public must see who are the biggest beneficiaries then….not so? If they refuse to declare what happened to our taxes- then we simply refuse to pay taxes – as we do not invest in secret agendas with no explanation what happened to our money and how  we ( not the non-tax paying taxis, vendors, Chinese or aliens) benefited from it. If someone does not pay taxes- he does not qualify to reap any social benefits- PERIOD! But because the South African public is very lazy and complacent- and never question the modus operandi of the scrupulous regime- these political white collar criminals in charge bloody well do whatever they want and get away with it. When do we see a tax revolt? 

This is how bad the South African communist regime is killing it’s working class citizens! There is NO compensation, NO relief- and NO stimulation of the economy coming from the greedy South African communist rulers- just tax, tax, tax and more tax to balance their own mismanagement on the shoulders of  the ever shrinking tax base! Maybe it’s time for a regime change- and fast too- a new regime for the people by the people that factually has no vindictive race card or political/family  preferences- but a healthy and fair regime that factually care for the country and ALL it’s people’s interests- and treat every-one the same. Instead we now have a bunch of useless black racist elite kleptocrats that only cares for their own enrichment and stuffed bank accounts – who seem to think curing their own gravy train maladministration can be solved by adding more taxes.  South Africa already rates among the highest taxed countries in the world. However- to find such a honest  regime in Africa is about a case of impossibility! As for now- the incompetent ANC kleptocrats are hiding their own incompetent mismanagement bleeding wounds behind one after the other tax Elastoplast.- Ed) 

 

SOURCED:

https://www.iol.co.za/business-report/economy/south-africans-should-brace-for-a-2-vat-increase-13008653

 

 

 

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