‘Boo, we beat you to that one’

Taxpayers won’t be paying more – for now at least, Finance Minister Pravin Gordhan has said.

Gordhan told journalists this morning ahead of his Budget speech in the National Assembly there would be “no tax increases as you were anticipating, so boo, we beat you to that one”.

There has been speculation that taxes would go up following an announcement by President Jacob Zuma in his State of the Nation Address almost two weeks ago that a tax review would be done.

Gordhan said a tax review committee headed by Judge Dennis Davis would be appointed within the next few days. “The other names of the committee and the terms of reference would be announced in due course,” he said.

He also rubbished speculation of mining taxes going up this year.

In his speech to Parliament, Gordhan said the tax review would be “to assess our tax policy framework and its role in supporting the objectives of inclusive growth, employment, development and fiscal sustainability, among other things”.

National Treasury has apparently been somewhat sensitive about the speculation, as tax increases could lose government goodwill ahead of next year’s general elections.

At the start of his press conference, Gordhan joked with journalists that he would deviate from his scripted speech to announce the raise in taxes.

– City Press