Sars inquiry received with some skepticism - economist

Economist Goolam Ballim says there has been some element of skepticism over Finance Minister Malusi Gigaba's announced judicial commission of inquiry into Sars.

The probe comes amid allegations of state capture and mismanagement at the revenue collector.

Gigaba has been given the green light by President Jacob Zuma to establish investigations which will look into, among other issues, institutional problems.

There has been some element of skepticism to the extent that some may say there is an orbit of proximity between the President, leadership at Sars and even the finance minister himself...so the fact that there is this investigation as an idea, has startled some people.

Goolam Ballim, Chief Economist at Standard Bank

Two things surface. One is that are there process failures at the revenue service, the other is simply faith and trust in the system.

Goolam Ballim, Chief Economist at Standard Bank

So broadly speaking these two elements effectively translate into this outcome where in the current fiscal year a shortfall of R 50 billion and over three years an astonishing estimated R 210 billion. In fact I think it could be worse.

Goolam Ballim, Chief Economist at Standard Bank

Click on the link below to listen to the full audio....


This article first appeared on CapeTalk : Sars inquiry received with some skepticism - economist


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