Business, Politics

ANC mulls tax on capital inflows

By Andy Rice 3 August 2010

The ANC is considering taxing short-run capital inflows to weaken the rand and make it more competitive. In a discussion document ahead of the policy debating meeting at the party National General Council next month, the ANC said that in the short run, the core priorities are finding ways to ensure a more competitive currency, and that the taxation of short-run capital inflows will be central to that debate. One wonders why they don't simply drop exchange control regulations, which would be a cheaper, less beauracratic way to achieve the cheaper rand objective. Read more: Reuters Africa

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