#Budget2018

[LISTEN] Sin taxes don't provide much revenue: #Budget2018

We're being told to brace ourselves for the toughest budget yet.

Finance minister Malusi Gigaba will deliver his maiden, full-term budget speech on Wednesday afternoon.

With investors and stakeholders waiting to see how Gigaba will close the budget deficit, tax expert Khanyisa Cingo says he should focus on strengthening revenue collection within Sars.

A 1% increase in VAT would fund or provide additional revenue of about R20 billion to the fiscal.

Khanyisa Cingo, Tax director at Sizwe Ntsaluba Gobodo

READ: 'Gigaba must comfort investors'

There isn't much room to increase revenue or to increase tax within the personal income tax rate.

Khanyisa Cingo, Tax director at Sizwe Ntsaluba Gobodo

Cingo says an increase in sin taxes, which includes things like alcohol and tobacco, plays a major role but is not enough to cover the current shortfall on its own.

She also expects the finance minister to follow in the footsteps of former president Jacob Zuma and current president Cyril Ramaphosa, both of whom touched on land expropriation during their Sona addresses.

Listen to which taxes the minister can raise to fund free education


This article first appeared on 702 : [LISTEN] Sin taxes don't provide much revenue: #Budget2018


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