According to the latest tax statistics, corporate income tax and value added tax (VAT) have plateaued over the past five years.
Group Executive for Research at Sars, Randall Carolissen says due to the financial crisis and the weak economy the tax contributions did not yield the expected gains.
This could be because they've lost business confidence and they are not investing as much as they should in their businesses, they are all cautious watching for better days.— Randall Carolissen, Group Executive for Research at Sars
Any form of corruption or greed is not good for the country because it erodes business confidence, it pushes back investment confidence.— Randall Carolissen, Group Executive for Research at Sars
What needs to happen is that directors need to debate tax issues and tax morality in their boardrooms and make that an integral part of their governance.— Randall Carolissen, Group Executive for Research at Sars
Sars has seen slippage in tax compliance, with a growing increase in the number of people not submitting their return.
To hear more about Sars and tax returns, listen below:
This article first appeared on CapeTalk : Sars revenue takes a knock