Tehillah Niselow, writing in South Africa's Power 98.7, reveals that tech giants are damaging the country's economy by not paying their fare share of tax.
"South Africa’s plan to change its tax law to ensure digital companies such as Google and Facebook contribute to the government’s coffer could raise up to R4.4 billion a year. This is money that could give a life line to the ailing local media.
The introduction of the new legislation will force local vendors doing business with Google, Facebook and other tech giants to pay value added tax (VAT) on goods and services purchased. The law will come into effect on 1 October 2018, according to a draft memo by the National Treasury."
Read the rest of Tehillah's excellent investigation here: https://www.power987.co.za/news/tech-giants-tax-avoidance-hurts-south-africas-media/