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Assume that the Minister of finance was considering abandoning Income Tax and increasing GCT to 30%. What are the effects on the economy that would

Assume that the Minister of finance was considering abandoning Income Tax and increasing GCT to 30%. What are the effects on the economy that would have to be considered before such a decision could be made? Would there be any advantages or dis- advantages for individuals and also the government? Discuss
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Assume that the Minister of finance was considering abandoning Income Tax and increasing GCT to 30%. What are the effects on the economy that would have to be considered before such a decision could be made? Would there be any advantages or disadvantages for individuals and also the government? Discuss (15 marks)

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