Nowhere to hide for super-rich tax dodgers
Sars is slowly closing off the loopholes that have allowed high-net-worth individuals to hide the scale of their incomes
27 January 2021 - 15:43
The SA Revenue Service’s (Sars’s) revised June 2020 estimate for tax collections for the 2020/2021 financial year was R234bn (or 17%) less than the previous financial year.
Sars commissioner Edward Kieswetter said improved tax collection and administration “continues to be an important element in achieving fiscal consolidation as Sars continues to rebuild its capacity. As an organisation, our near-term objectives include … finalising the tax gap study ... to quantify the difference between how much tax should be collected and how much is collected.”..
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