The SAIT Presentation on the Fiscal and Revenue Proposals 2025, highlights the negative impacts of the upward trajectory of the country’s expenditure and the negative long-term effect that the growing debt-service costs will have on the economy. The presentation highlights the impact of the VAT increase on middle and lower-income taxpayers, emphasising the strain on discretionary spending. It discusses the lack of inflationary adjustments to personal income tax brackets, which we believe will continue to exacerbate economic inequality. In our presentation to the Standing and Select Committee on Finance, SAIT called for the modernisation of SARS’s systems, enhanced taxpayer rights, and the introduction of a withholding tax on tenderpreneurs to ensure compliance. Our presentation also underscores our support for the significant public-sector infrastructure investment and improved customs and excise enforcement to promote economic growth and transparency.
