The South African Revenue Service (SARS) says its efforts to target citizens who have unexplained wealth have already started to show signs of success.
SARS has profiled people who live a luxurious lifestyle and have more wealth than their income.
It says it’s capable of accessing databases that track items like luxury vehicles and expensive property.
[ON AIR] @sarstax says it’s going to be targeting South Africans it believes have assets worth more than four hundred billion rands stashed offshore – that they have not paid tax on. @EdKieswetter – @sarstax Commissioner on #SAfmSunrise with @StephenGrootes #sabcnews pic.twitter.com/cHBukzJotm
— SAfmRadio 📻 (@SAfmRadio) April 8, 2021
SARS collects R38 billion more in taxes in past financial year: Edward Kieswetter
SARS Commissioner Edward Kieswetter says although chasing after tax evaders is hard work, the results are pleasing.
“We are beginning to see some results in that regard. We have already collected R4.5 billion in taxes by using this process. Last year we also reported through our normal volunteer disclosure programme, we collected R3.5 billion from 1 800 applications. Our approach is to go to South Africans and say disclose the information you have fully and on a voluntary basis. And really it is an appeal to South Africans to say come to us before we come to you and we have a friendly conversation,” says Kieswetter.
SARS briefing on preliminary outcomes of revenue collected: