Laws, regulations and taxes that discourage wealth creation must be repealed
It may well be that individuals actively evade paying tax, but it is not clear that a blanket audit approach on all high-net-worth individuals is the best route
Judge Dennis Davis recently ignited the debate around the possible strengthening of tax audits on high-net-worth taxpayers, in an article on BusinessLIVE (https://www.businesslive.co.za/fm/opinion/on-my-mind/2021-01-21-dennis-davis-upping-the-ante-on-high-net-worth-individuals/)
Davis writes that his “concern is that, in a country with levels of inequality as high as those of SA, it is unconscionable that millions pay their fair share of tax — by way of pay-as-you-earn tax and/or VAT — but some who own multiple homes and fancy motor cars consider it their divine right not to pay their legal dues to the SA Revenue Service”. ..
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