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Diamond Taxes

Day 472, 15:04 • Published in South Africa

• by Rico Suave

Debate article for the congress

Currently, the diamond tax is 32%. This needs to be lowered. The reasons are manifol😛
1. We've seen a pretty rapid deflation from the 125/135 mark to the 100-120 mark. This is a LARGE deflation, and, though it has seen some decrease in costs as it's been paired with a tax reduction, it's placed substantial strain on many companies.

2. Diamond salaries are no longer at the insane levels they previously were. Even at 1% tax, they'd still just be "on par."

3. Government revenues are very high, and we will not see some massive funding problem if we cut taxes.

4. Diamond investment is beginning to flow overseas to Canada.

You do not have to be a genius to see that the message above is typed by someone gifted with opposable thumbs! This primate fully agrees with the statement though.

Long Live the Nine Provinces of South Africa!

Comments

Peter D. Banko Day 472, 20:19

Ri-co....Sua-ve!

Good advice that our Congress should take...based on sound thinking and sound principles.

Hireshmont Vellos Day 472, 20:53

Yaya, thanks for bringing this up Rico. I was meaning to, but you beat me too it: which is totally cool.

I strongly urge all congressmen to vote for this proposal, as I suggested a week or two ago.

Browski Day 472, 21:13

I have no problem with thi but i think we will need to keep an eye on the situation. If we find that Salaries in dimonds become to high compared to other industries we will need to change it again to encourage new players to work in other sectors.

Boere Generaal Day 472, 21:27

oki doke

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