'Taxpayers will not volunteer any tax they think they're not obliged to pay'
In his supplementary budget speech in Parliament on Wednesday, Finance Minister Tito Mboweni said that gross tax revenue collected during the first two months of 2020/21 was R142 billion, compared to the initial forecast for the same period of R177.3 billion.
Ray White spoke to Bowmans law firm partner Aneria Bouwer for reaction.
What is very interesting is that the proposal seems to make that up mainly by way of spending adjustments. There is a reference of spending adjustments of about 230 billion and then tax measures of 40 billion, so it seems that it is anticipated that it will be sourced by way of spending tax rather than tax collection. The further indication is that the tax collections are intended to come from increased tax administration.Aneria Bouwer, Partner - Bowmans law firm
From a tax morale perspective, we are not at the low where we used to be, I think there has been some improvement but taxpayers are generally cautious and they will comply with their tax obligations but they are not going to volunteer any tax which they think they are not obliged to pay.Aneria Bouwer, Partner - Bowmans law firm
Click on the link below to hear the full conversation....
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