The 2019 National Budget Speech took place yesterday afternoon, 20 February, when Finance Minister Tito Mboweni addressed Parliament over the allocation of state funds for the year.
The #RSABudget2019 Highlights, an infographic issued by the National Treasury, the government is expected to spend R5,9 trillion over the MTEF period with the bulk of spending allocated to learning and culture, social development, health and community development. On the other end, tax proposals include the carbon tax which will be implemented on 1 June and see below-inflation increases in fuel taxes raise R1.3 billion. Increases in alcohol and tobacco excise duties are expected to raise a revenue of R1 billion while white bread flour, cake flour and sanitary pads will be zero-rated for VAT purposes from 1 April.
In light of the proposals brought forth by Mboweni during his speech, Sin Tax increases had tongues wagging, clearly putting a strain on nice times.
Check out the infographic below for a brief look at the proposed 2019 sin tax:
