VAT is the last thing we should be raising says Minister Pravin Gordhan - and leading tax expert and chair of the 1990s Tax Commission Michael Katz vehemently agrees
Vat is a very regressive tax. It is a consumption tax and it bites hardest at the poor— Michael Katz, Edward Nathan Sonnenberg
It is in my view morally inappropriate to do so, particularly at a time when interest rates are increasing, food prices are increasing and the burden of the economy is increasing.— Michael Katz, Edward Nathan Sonnenberg
Listen as Michael Katz explains why such a move would adversely impact on much needed economic growth.
This article first appeared on 702 : "VAT is a regressive tax" says former Chair of the Katz Commission on tax