WORK­ING LONGER FOR TAX FREE­DOM 43

Finweek English Edition - - THE WEEK -

South Africans are work­ing 43 days longer to achieve “tax free­dom” than they did in 1994, with 25 May rep­re­sent­ing the day this year on which we start work­ing for our­selves rather than the tax man, ac­cord­ing to the Free Mar­ket Foun­da­tion (FMF). The date is cal­cu­lated by tak­ing the to­tal in­come of all South Africans divided by the num­ber of days of the year, which shows that gov­ern­ment ef­fec­tively takes the first 145 days of our in­come, ac­cord­ing to the FMF. In 1994, Tax Free­dom Day was on 12 April, it said.

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