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Why SARS has struggled to crack down on tax evasion among High-Net-Worth Individuals.

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GUEST – Jashwin Baijoo, Associate Director and Head of Strategic Engagement & Compliance at Tax Consulting SA.

South Africa’s tax system is under immense pressure. While just 1.6 million individuals shoulder the bulk of personal income tax, an estimated 100,000 millionaires are managing to evade their tax obligations entirely. This widespread non-compliance not only strains government revenue but also deepens the financial burden on law-abiding taxpayers.

In the 2025 Budget, Finance Minister Enoch Godongwana announced a R7.5 billion allocation to SARS to enhance tax compliance and enforcement. But will this investment be enough to tackle the issue? How is SARS identifying and pursuing high-net-worth individuals who slip through the cracks? And what does this mean for the broader economy?
19 Mar 2025 2PM English South Africa Business News · Investing

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