Posts tagged with 'International Monetary Fund'

 

ANC government is milking taxpayers! – Figures from 115 countries available, SA ranks eighth with high tax rates

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The South African Revenue Service has increased taxes amid poor economic conditions and consequently poor economic growth.

South Africa is among the top ten countries with high taxes and is also the highest with tax rates.

Personal taxes have become more important to the greedy government than a source of revenue for the state over the past decade.

The personal tax contribution to the R1.2 trillion collected makes up more than 30% according to SA Statistics.

According to data from the International Monetary Fund’s 115 available countries, SA is the eighth on the heavy tax rankings.

The second biggest source of revenue for the government is VAT, and thirdly, companies’ taxes are being ordered.

The average tax rate stands at 26%, making the country among the ten heaviest countries in the world.

-Read the original article in Afrikaans on Vryburger
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The corrupt ANC government plans ‘could collapse pension funds, with pensioners dying poor’

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The party’s manifesto hints at targeting pensions through prescribed investments, ‘which will see half the population’s money used to bail out failing entities like Eskom’.

The prescribed investments for pension funds hinted by the ANC in its 2019 election manifesto could lead to the collapse of South Africa’s pension funds and pensioners dying poor.

Explaining prescribed investments during a presentation yesterday, economist Mike Schussler said government would be able to dictate to fund managers where and how much of their assets to invest, be it in government bonds, bailing out crippled state-owned enterprises (SOEs), or even funding the previously proposed Russian nuclear power station project.

If this is done, added to the way SOEs were run into the ground and looted in the past, workers’ hard-earned pensions could ultimately be squandered.

“If your money is invested in Eskom and all this mismanagement and wastage is ha
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IMF criticizes South African government’s tertiary education plan – Government should rather concentrate on free education with a good standard

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The International Monetary Fund (IMF) criticized South Africa and the government for its intended free education at tertiary institutions. The spokesman said the country should rather concentrate on free education with a good standard in primary and secondary schools so that they can achieve good results with post school studies.

South Africa should do a lot more to provide better primary and secondary school education, which requires much more money and deserves the first attention.

The main issue is totally ignored if post school education is offered free of charge while the foundation of the pupils is not good, the spokesman said.

Educators say government’s poor primary and secondary education policies, together with a serious lack of properly trained teachers are among the main reasons why so many students fail to complete their field of study.

Read the original article in Afrikaans on Die Vryburger
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