LETTER: Tax reports incomplete
Judge Dennis Davis: The tax committee is clearly in favour of the introduction of a comprehensive wealth tax as soon as possible
Your front page article (Davis report: SA not ready for wealth tax, April 12) and editorial (Not a wealth of choices for SA, April 13) on the Davis tax committee’s wealth tax report refer. It is regrettable that Business Day’s coverage of the committee’s report — titled The Feasibility of a Wealth Tax in SA — did not reflect the key recommendations and justifications in the report. The committee’s report did not propose a long or indefinite deferral of the implementation of a comprehensive wealth tax in SA, as is intimated in your publication. In the light of the vast historical and increasing wealth inequality in SA (the highest in the world), which is a threat to social stability, the committee is clearly in favour of the introduction of a comprehensive wealth tax as soon as possible, subject to the following: First, a comprehensive wealth tax cannot be successfully introduced until a comprehensive picture of wealth is obtained, hence the recommendation for the South African Reven...
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