South African government has raised income tax of richest individuals in the country by 45 per cent.
Finance Minister Pravin Gordhan said the new tax rate will help plug a revenue shortfall as economic growth falters.
The top marginal income-tax rate for about 103,000 people earning more than...
south africa finance minister
south africa news
south africa raises income-tax rate
South Africa's Finance Minister Pravin Gordhan on Monday stated that the country's economy might have already seen the worst of its current economic downturn, and things are starting to look better.
"We are going through a difficult economic patch at the moment but we may well have bottomed...
The South African finance minister, Pravin Gordhan, earlier today, said the country's economy is 'in crisis'.
The comments came ahead of his Budget speech, in which he cut the country's growth forecast for 2016 to 0.9%, down from 1.7%.
He conceded the economy is struggling with shrinking...
south africa in crisis