Government’s proposed carbon tax – due for implementation in July next year, will result in one of the biggest tax rate increases in South Africa, economist Mike Schussler said last week.
“Other than the three big taxes - personal income tax, company taxes and value-added tax (VAT) - the only other tax likely to be bigger, at least at the lower carbon tax rate, is fuel tax.”
Schussler believes government should be looking at the economic, environmental and social impact of regulations and new taxes before they are introduced.
Speaking at the Special Interest Group (SIG) Transport Forum in Johannesburg last week, Schussler expressed concern that new regulations – including the recent truck banning proposal and the carbon tax – would cut into South Africa’s gross domestic product (GDP) margins and considerably add to already high logistics costs.
To read the full FTW article, click here.
FTW pick: SA headed for ‘biggest tax rate increase’
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