Taxation

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The poor and the middle class will be the hardest hit if the South African government increases the value-added tax. Shutterstock

South Africa needs to raise taxes: why a VAT increase would be a bad idea

The South African government should weigh its decision carefully whether to increase value added tax (VAT) as indirect taxes fall most heavily on the poor and the middle class.
Treasurer Joe Hockey has announced new rules allowing the Tax Commissioner will have the power to to recover unpaid taxes and issue a fine of an extra 100% of unpaid taxes, plus interest. AAP Image/Lukas Coch

Not all corporate tax avoiders will be snared by new rules

Only certain multinationals will be targeted under new corporate tax avoidance rules announced by Treasurer Joe Hockey.
Prime Minister Tony Abbott and Treasurer Joe Hockey have come under increasing pressure to crack down on tax avoidance and white collar crime. AAP Image/Lukas Coch

Hockey targets white collar crime, but forgets whistleblowers

If Treasurer Joe Hockey is serious about cracking down on white collar crime, he should bolster the new Serious Financial Crime Taskforce with stronger whistleblower protection legislation.
Apple Australia Corporate Vice President Tony King told a senate committee the company’s effective tax rate was above 30%. Nikki Short/AAP

Explainer: the ATO plan to deter corporate tax avoidance

A new formula adopted by the ATO is likely to act as both a detection tool and deterrent to corporate tax avoidance.

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