I thought I’d share my “Tips for Trevor” with you. I have submitted to the Treasury and Moneyweb for public comment.
Quick and easy. Scrap all taxes, direct and indirect. Budget what our requirements are as a country and raise the revenues by a fixed percentage of all bank (all financial institutions) transactions, cheques, deposits, withdrawals, ATM withdrawals, internet transfers etc. The following points are of relevance;
- The banking system has the technology to calculate this value and pay over to the treasury daily.
- Costs of collection – ZERO
- Tax Evasion – ZERO.
- The more you earn, (the more you bank), the more you pay.
- All money eventually finds it’s way into our banking system and will attract tax.
- It is painless,fair and equitable.
- I think it will be a world first and we should attract more foreign direct investment.
- Most of all it is SIMPLE.
Keep up the good work, we are right behind you.