Tax collection efficiency trumps wealth taxes in the short-term
22 April 2024, Tanya Strauss
Speculation surrounding the introduction of formal wealth taxes in South Africa has subsided for the time being. The South African... Revenue Service (SARS) appears to have reconciled itself to the recommendations outlined in the "Feasibility of a Wealth Tax in South Africa" Report by the Davis Committee, which underscores deficiencies in wealth information and tax collection as requiring attention and not necessarily additional ‘wealth taxes’ in the short term. SARS's intensified focus on collecting clearly indicates its intentions to address this information and tax compliance gap.