In the year 2000, the population was roughly 45 million, this figure has since increased to around 60 million in 2022, but the tax base has not grown proportionally – this is a problem for tax in South Africa.
South Africa’s tax base is shrinking, and the South Africa Revenue Service is going after those who are taxpayers harder, says Keith Engel, the chief executive officer at the South African Institute for Tax Professionals ., Engel said that in the year 2000, the South African population was roughly 45 million – this figure has since increased to around 60 million in 2022, but the tax base has not grown proportionally.
“If you try to tax them too hard, to get your fair share, they are likely to leave,” said the tax expert. PIT remains the largest source of tax revenue domestically , and it is particularly worrying as there were only 5.2 million taxpayers in 2020, representing 9% of the population and contributing 40% of the country’s total tax revenue, said Goliger.
He said that SARS is trying to uncover ‘hidden’ revenue from a percentage of the tax base with new methods of accessing wealth and tax compliance. A UWO could lead to a court lead to a court confiscating unexplained wealth on the basis that the wealth of a person or entity is disproportionate to the lawful income derived or declared by the person – and they cannot reasonably justify it.Engel said that SARS is tapping into more tax streams, but the easiest way to access a more extensive tax base is to grow the economy.
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