South Africa increased its value added tax in April 1st, and the price rose overall.
Date：2018-04-04
Zwelinzima Vavi, a trade union leader, said in his reply released by twitter, "today the poor will begin to feel the true meaning of" new dawn ". As the VAT is up 7%, the price of market commodities will increase from Sunday, and the poor are paying the price for the political elites and the capitalist crisis.
However, his comments on tweet were immediately attacked, some accused him of alarmist, while others accused him of "political show," and some even suggested that it was a lie of April Fool's day.
The economic investigator sent a message to him: "the value added tax is 14%, now it increased by 1% to 15%... Where's 7%, stop telling lies".
He responded in a good humour: "ha ha ha, please don't expose your ignorance, calculate the percentage increase from 14% to 15%, and then accuse me of lying!"
Finally, a senior financial analyst (CFA) explained the difference between percentage increase and percentage increase.
He explained, "let's take a look at this: its number increased from 14% to 15%, and its value-added tax rate increased by 7.1%. This causes you to pay 0.877% more when you buy a product (that is, without tax, for example, R100 goods, you need to buy the price from R114 to R115).