Explore the Category
The South Africa Revenue Services (SARS) has predicted that it would lose around 15 to 20% of its tax revenue this year as a result of the nationwide COVID-19 lockdown, and the responsibility of filling the gap will fall upon the South African taxpayers.
It’s the third largest member state of the EU and one of the most heavily indebted. So it went into the coronavirus crisis in a vulnerable position. “Debt as a share of GDP was at 134%, and that’s now expected to rise to over 150% of GDP by the end of 2020,” says Azad.
What do you believe will be the biggest challenge when the COFI framework is finally implemented?