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A Tax Policy Analysis Of The 2018 Value Added Tax Rate Increase In South Africa
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Book Synopsis A Tax Policy Analysis of the 2018 Value Added Tax Rate Increase in South Africa by : Candice Gardiner
Download or read book A Tax Policy Analysis of the 2018 Value Added Tax Rate Increase in South Africa written by Candice Gardiner and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: In this dissertation I explore the background of Value-Added Tax (VAT) and how this indirect tax plays a role in the economy, and the enormous reliance which the government has on the income therefrom. This tax is divided into output tax, which is defined as the tax charged by any vendor on the goods or services supplied by that vendor in the furtherance of any enterprise carried on by him, and input tax which is defined as the tax payable by a vendor when goods or services are acquired by him wholly for the purposes of consumption, use or supply in the course of making taxable supplies. In order to calculate and determine the amount of VAT which is payable, you deduct input tax from output tax liability. This is vital as this determines whether the supplier will be allowed to claim VAT back from the government in terms of the supplies made. VAT, in South Africa, has remained unchanged at 14% for over a decade, however, the 2018 budget speech provided that the VAT rate will increase by 1%, to 15%. The aim of this increase is to raise revenue due to the budget deficit incurred over a number of years, which could be attributed to the government's corruption, reckless expenditure, illegitimate contracts, and most importantly poor financial management. Considering the skewed distribution of income in South Africa, this VAT increase adversely affects poor households. Statistics are provided in this dissertation to show how social grants do not adequately support people's needs and, even though there has been an increase in these grants to reduce the burden on the poor, it is still not adequate for households to support and feed their families. After having done a comparative study between South Africa and Denmark, this dissertation shows that Denmark's current VAT rate is 25%. Denmark's VAT rate is significantly higher than South Africa's. Denmark however provides services to taxpayers which include free education, health care and transportation. These types of services delivered have alleviated the stress on these taxpayers to afford such services which has resulted in little to no crime in Denmark. The Danish government provides many basic services and is largely transparent which makes the high VAT rate justifiable. After analysing the Danish system, this dissertation argues that South Africa's increased VAT rate cannot be justified because the South African government does not deliver services to the same extent as countries with higher VAT rates do.
Book Synopsis an analysis of south africa's value added tax by :
Download or read book an analysis of south africa's value added tax written by and published by World Bank Publications. This book was released on 2005 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis South Africa by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book South Africa written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2015-07-10 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Technical Assistance Report discusses the results of applying the value-added tax (VAT) gap estimation methodology of the Revenue Administration Gap Analysis Program (RA-GAP) to South Africa for the period 2007–12. It is found that the compliance gap is estimated to be between 5 percent and 10 percent of potential VAT revenues during the period 2007–12, and peaking in 2008 and 2009. The estimated compliance gap for VAT in South Africa between 2007 and 2012 is hump-shaped. The results also reveal that the level of the VAT policy gap in South Africa is low by international standards, owing to its simple VAT policy structure.
Book Synopsis An Analysis of South Africa's Value Added Tax by : Delfin S. Go
Download or read book An Analysis of South Africa's Value Added Tax written by Delfin S. Go and published by . This book was released on 2005 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The South African Value Added Tax Rate Increase by : Mthokozisi Fortune Khuzwayo
Download or read book The South African Value Added Tax Rate Increase written by Mthokozisi Fortune Khuzwayo and published by . This book was released on 2019 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The concept of Value Added Tax (VAT) can be considered to possess a duality of sort, particularly its practical manifestation. On the one hand, VAT is a tax added to the cost of a product or service and is levied for purposes of generating revenue for government. VAT is often referred to as a tax on consumption of goods or services, and is levied on the supply by a vendor of goods or services in the course or furtherance of any enterprise carried on by a vendor. This means that VAT cannot be levied if supplies are made not in the course of furtherance of any enterprise. On the other hand, VAT is applied at each and every stage of the production which is why it is also known as a multi-stage tax. In this regard, VAT is applied to the value that is added during the production process. The aim of this study is to determine whether the VAT increase from 14 percent to 15 percent that was effected on 1 April 2018 in South Africa is/was justifiable. In order to reach an informed and sound conclusion, three countries with a VAT system have been carefully and deliberately chosen for the purposes of comparison. The selected countries are Japan, Greece and Zimbabwe. The rationale of choosing these countries is that they are located in different continents which are Asia, Europe and Africa and this relatively allows for a (modicum of) generalisation about VAT trends across the world. Furthermore, this research study incorporates views about the VAT increase from different schools of thought. It also explores the reasons and factors that led to the VAT increase in South Africa. In addition, it focuses on the impact of the VAT increase on the poor. The in-depth discussion on the VAT increase, the motivations that led to the increase and the impact that resulted from the increase are dealt with in Chapter 4 of the study. The findings of the study show that poor governance at the South African Revenue Service (SARS) and irregular expenditure by certain government departments led to the VAT increase. Because the factors that contributed to the upward readjustment of the VAT were within the control of the state officials, the conclusion drawn is that the 2018 VAT increase was not justifiable. Lastly, recommendations are deduced from the findings and compiled as part of the study for the benefit of South Africa and its citizenry, especially the poor.
Book Synopsis Modelling Value-added Tax (VAT) in South Africa by : Rebone Gcabo
Download or read book Modelling Value-added Tax (VAT) in South Africa written by Rebone Gcabo and published by . This book was released on 2019 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Using SAMOD, a tax-benefit microsimulation model for South Africa, this paper examines the joint distributional impact of the increase in the value-added tax (VAT) rate and increases in benefit amounts in 2018. Although poverty and inequality did not increase overall, the poorest still saw a reduction in their purchasing power, as many of those in the lowest decile do not receive any social benefits. The paper then explores the consequences of eliminating zero-rating in VAT and using the generated revenues to finance new social benefits. The results suggest that a policy package of a uniform VAT and an expanded set of social benefits would lead to reduced poverty and inequality in comparison to the current practice of zero rating of some consumption goods in the VAT. The findings demonstrate the superiority of using direct taxes and benefits as opposed to provisions in indirect taxes in achieving redistribution.
Author :Mr.Santiago Acosta Ormaechea Publisher :International Monetary Fund ISBN 13 :149831418X Total Pages :38 pages Book Rating :4.4/5 (983 download)
Book Synopsis The Value Added Tax and Growth: Design Matters by : Mr.Santiago Acosta Ormaechea
Download or read book The Value Added Tax and Growth: Design Matters written by Mr.Santiago Acosta Ormaechea and published by International Monetary Fund. This book was released on 2019-05-07 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does the design of a tax matter for growth? Assembling a novel dataset for 30 OECD countries over the 1970-2016 period, this paper examines whether the value added tax (VAT) may have different effects on long-run growth depending on whether it is raised through the standard rate or through C-efficiency (a measure of the departure of the VAT from a perfectly enforced tax levied at a single rate on all consumption). Our key findings are twofold. First, for a given total tax revenue, a rise in the VAT, financed by a fall in income taxes, promotes growth only when the VAT is raised through C-efficiency. Second, for a given VAT revenue, a rise in Cefficiency, offset by a fall in the standard rate, also promotes growth. The implication is thus that in OECD countries broadening the VAT base through fewer reduced rates and exemptions is more conducive to higher long-run growth than a rise in the standard rate.
Download or read book Taxing Wages 2021 written by OECD and published by OECD Publishing. This book was released on 2021-04-29 with total page 651 pages. Available in PDF, EPUB and Kindle. Book excerpt: This annual publication provides details of taxes paid on wages in OECD countries. It covers personal income taxes and social security contributions paid by employees, social security contributions and payroll taxes paid by employers, and cash benefits received by workers. Taxing Wages 2021 includes a special feature entitled: “Impact of COVID-19 on the Tax Wedge in OECD Countries”.
Book Synopsis Taxation and Gender Equity by : Caren Grown
Download or read book Taxation and Gender Equity written by Caren Grown and published by IDRC. This book was released on 2010 with total page 349 pages. Available in PDF, EPUB and Kindle. Book excerpt: Around the world, there are concerns that many tax codes are biased against women, and that contemporary tax reforms tend to increase the incidence of taxation on the poorest women while failing to generate enough revenue to fund the programs needed to improve these women's lives. Because taxes are the key source of revenue governments themselves raise, understanding the nature and composition of taxation and current tax reform efforts is key to reducing poverty, providing sufficient revenue for public expenditure, and achieving social justice. This is the first book to systematically examine gender and taxation within and across countries at different levels of development. It presents original research on the gender dimensions of personal income taxes, and value-added, excise, and fuel taxes in Argentina, Ghana, India, Mexico, Morocco, South Africa, Uganda and the United Kingdom. This book will be of interest to postgraduates and researchers studying Public Finance, International Economics, Development Studies, Gender Studies, and International Relations, among other disciplines.
Book Synopsis Deloitte VAT Handbook by : Mark Silver
Download or read book Deloitte VAT Handbook written by Mark Silver and published by . This book was released on 2017 with total page 922 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International VAT/GST Guidelines by : OECD
Download or read book International VAT/GST Guidelines written by OECD and published by Org. for Economic Cooperation & Development. This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper set forth internationally agreed principles and standards for the value added tax (VAT) treatment of the most common types of international transactions, with a particular focus on trade in services and intangibles. Its aim is to minimise inconsistencies in the application of VAT in a cross-border context with a view to reducing uncertainty and risks of double taxation and unintended non-taxation in international trade. It also includes the recommended principles and mechanisms to address the challenges for the collection of VAT on crossborder sales of digital products that had been identified in the context of the OECD/G20 Project on Base and Erosion and Profit Shifting (the BEPS Project).
Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Book Synopsis Consumption Tax Trends 2020 VAT/GST and Excise Rates, Trends and Policy Issues by : OECD
Download or read book Consumption Tax Trends 2020 VAT/GST and Excise Rates, Trends and Policy Issues written by OECD and published by OECD Publishing. This book was released on 2020-12-03 with total page 220 pages. Available in PDF, EPUB and Kindle. Book excerpt: Consumption Tax Trends provides information on Value Added Taxes/Goods and Services Taxes (VAT/GST) and excise duty rates in OECD member countries. It also contains information about international aspects of VAT/GST developments and the efficiency of this tax. It describes a range of other consumption taxation provisions on tobacco, alcoholic beverages, motor vehicles and aviation fuels.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1498344658 Total Pages :257 pages Book Rating :4.4/5 (983 download)
Book Synopsis Fiscal Policy and Long-Term Growth by : International Monetary Fund
Download or read book Fiscal Policy and Long-Term Growth written by International Monetary Fund and published by International Monetary Fund. This book was released on 2015-04-20 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper explores how fiscal policy can affect medium- to long-term growth. It identifies the main channels through which fiscal policy can influence growth and distills practical lessons for policymakers. The particular mix of policy measures, however, will depend on country-specific conditions, capacities, and preferences. The paper draws on the Fund’s extensive technical assistance on fiscal reforms as well as several analytical studies, including a novel approach for country studies, a statistical analysis of growth accelerations following fiscal reforms, and simulations of an endogenous growth model.
Book Synopsis Revenue Mobilization in Developing Countries by : International Monetary Fund. Fiscal Affairs Dept.
Download or read book Revenue Mobilization in Developing Countries written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2011-08-03 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Fund has long played a lead role in supporting developing countries’ efforts to improve their revenue mobilization. This paper draws on that experience to review issues and good practice, and to assess prospects in this key area.
Book Synopsis How to Manage Value-Added Tax Refunds by : Mario Pessoa
Download or read book How to Manage Value-Added Tax Refunds written by Mario Pessoa and published by International Monetary Fund. This book was released on 2021-05-10 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The value-added tax (VAT) has the potential to generate significant government revenue. Despite its intrinsic self-enforcement capacity, many tax administrations find it challenging to refund excess input credits, which is critical to a well-functioning VAT system. Improperly functioning VAT refund practices can have profound implications for fiscal policy and management, including inaccurate deficit measurement, spending overruns, poor budget credibility, impaired treasury operations, and arrears accumulation.This note addresses the following issues: (1) What are VAT refunds and why should they be managed properly? (2) What practices should be put in place (in tax policy, tax administration, budget and treasury management, debt, and fiscal statistics) to help manage key aspects of VAT refunds? For a refund mechanism to be credible, the tax administration must ensure that it is equipped with the strategies, processes, and abilities needed to identify VAT refund fraud. It must also be prepared to act quickly to combat such fraud/schemes.
Book Synopsis Advances in Taxation by : John Hasseldine
Download or read book Advances in Taxation written by John Hasseldine and published by Emerald Group Publishing. This book was released on 2021-10-19 with total page 135 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in Taxation is essential reading for those looking to keep abreast of the most recent research, including empirical studies using a variety of research methods from different institutional settings and contexts.
