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Not Only The Rich Pay Taxes

Tuesday, 22 October 2013   (0 Comments)
Posted by: Author: Ingé Lamprecht
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Author: Ingé Lamprecht (MoneywebTax)

Every South African may not be contributing to the personal income tax pot, but everybody does pay tax.

Speaking at the launch of the 2013 Tax Statistics, a joint publication between National Treasury and the South African Revenue Service (Sars), Ismail Momoniat, deputy director-general for tax and financial sector policy at National Treasury warned that the number of taxpayers who contribute to the personal income tax pot, are not the only individuals who contribute to state coffers. Momoniat said everybody pays value-added tax (VAT), and contribute to the fuel levy.

Various industry commentators and economists have warned that South Africa's tax burden is divided amongst too a small minority and that the situation is not sustainable.

An examination of the overall tax base and the tax burden is one of the aspects of tax policy that the recently appointed Tax Review Committee, chaired by judge Dennis Davis are considering.

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Section 240A of the Tax Administration Act, 2011 (as amended) requires that all tax practitioners register with a recognized controlling body before 1 July 2013. It is a criminal offense to not register with both a recognized controlling body and SARS.

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