.png)
100 signatures reached
To: Minister of Finance Tito Mboweni Head of Tax & Financial Sector Policy at National Treasury Ismail Momoniat
Tell Min. of Finance Tito Mboweni to increase Corporate Income Tax
.png)
We the undersigned call on you to increase Corporate Income Tax. The people have shouldered the tax burden long enough. It is time the rich pay their fare share. You can use the funds from the tax to pay for a 13th cheque for pensioners and increase social grants.
Why is this important?
With Mzansi’s economy struggling, rising fuel prices and the VAT increase- the poor of Mzansi are in crisis. But despite this, government is trying to cut more public spending on things like healthcare, housing and social grants which are meant to give important economic relief to the poor [1]. We, the people, already shouldered the tax burden when VAT was increased last year. It is big business’ turn to pay their fare share. Tell Finance Minister Tito Mboweni, he must increase Corporate Income Tax for the tax-dodging and greedy rich and start prioritizing economic relief for the people.
We welcome the announcement that sanitary pads, white bread flour and cake flour will be VAT free. With VAT at 15%- the burden of fixing the economy is still on the shoulders of the poor. But the gap between the rich and poor in Mzansi is one of the largest in the world. Mzansi is a country where the top 10% control 90-95% of the wealth [2].
It is unjust that Treasury keeps proposing solutions to the ongoing economic crisis by increasing the tax burden on the majority, especially poor Black women especially whilst 89% of companies in SA don’t pay Corporate Income Tax [3] and R965 billion leaves the continent in illicit financial flows every year. [4] Mzansi is dominated by greedy multinational companies. We the people essentially subsidize corporates. Government cutting public expenditure on things like healthcare, housing and social grants which give financial relief to an already struggling poor is not the solution to our struggling economy. Tell government and Treasury to tax the mega-rich instead by increasing the Corporate Income Tax.
[1] The 2018 mid-term budget speech in a nutshell, Staff Writer for Business Tech October 2018
[2] 10 Percent Of South Africans Own 90 Percent Of The Country's Wealth, Staff Reporter for The Huffington Post July 2018
[3] Corporates not ‘tax compliant’. Baldwin Ndaba and African News Agency for The Mercury 22 Aug 2018
We welcome the announcement that sanitary pads, white bread flour and cake flour will be VAT free. With VAT at 15%- the burden of fixing the economy is still on the shoulders of the poor. But the gap between the rich and poor in Mzansi is one of the largest in the world. Mzansi is a country where the top 10% control 90-95% of the wealth [2].
It is unjust that Treasury keeps proposing solutions to the ongoing economic crisis by increasing the tax burden on the majority, especially poor Black women especially whilst 89% of companies in SA don’t pay Corporate Income Tax [3] and R965 billion leaves the continent in illicit financial flows every year. [4] Mzansi is dominated by greedy multinational companies. We the people essentially subsidize corporates. Government cutting public expenditure on things like healthcare, housing and social grants which give financial relief to an already struggling poor is not the solution to our struggling economy. Tell government and Treasury to tax the mega-rich instead by increasing the Corporate Income Tax.
[1] The 2018 mid-term budget speech in a nutshell, Staff Writer for Business Tech October 2018
[2] 10 Percent Of South Africans Own 90 Percent Of The Country's Wealth, Staff Reporter for The Huffington Post July 2018
[3] Corporates not ‘tax compliant’. Baldwin Ndaba and African News Agency for The Mercury 22 Aug 2018