n Without Prejudice - VAT in troubled economic times : tax
|Article Title||VAT in troubled economic times : tax|
|© Publisher:||JetBlue Publishers (Pty) Ltd|
|Publication Date||Mar 2009|
|Pages||10 - 11|
Consumer spending reduced dramatically as a result of the global economic downturn (significantly aided, I have to observe, by the repeated increases in interest rates imposed by the SA Reserve Bank - Ed). VAT receipts by most Revenue Authorities have also been negatively affected and in South Africa a substantial deficit compared with the budget of R167 billion is expected for 2009.
Article metrics loading...