DENNIS DAVIS: Upping the ante on high net worth individuals
Tax audits on high net worth individuals won’t kill the goose that lays the golden egg. After all, those who are tax compliant have nothing to fear
For some time now, I have complained that there is a lack of tax audits on high net worth individual taxpayers.
This was neither out of malice, nor out of a desire to target those who have accumulated wealth. Rather, my 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 motorcars consider it their divine right not to pay their legal dues to the SA Revenue Service (Sars)...