Tax expert Dennis Davis says the way the tax system is designed in South Africa is set to disadvantage small businesses.
Tax experts are concerned that small businesses are continuing to be over-regulated and overtaxed. The experts were speaking at a Small Business Indaba in Johannesburg.
Judge Dennis Davis, who was one of the speakers at the conference, says the way the tax system is designed in South Africa is set to disadvantage small businesses, especially those at entry level.
“We are over-regulated and the cause why we are over-regulated, the argument somewhere along the line we are not able to produce the small and medium enterprises that we are supposed to produce.”
“There is always a form of regulation. The question is, ‘is it a regulation that promotes or a regulation that retards?’ Bernard raised the question earlier about the difficulties of corruption for small businesses in municipalities. So we have, before we get anywhere, to one – fix our education system and two – once and for all to eradicate the parallel state,” says Davis.
By SABC News: http://www.sabcnews.com/sabcnews/small-businesses-continue-overtaxed-tax-expert/